Is your money safe? The collapse of IndyMac Bank has a lot of people wondering about that.

If your deposits are fully covered by the FDIC you really have nothing to worry about, even if the bank fails.

"However, consumers that have more than the allowable limits on deposit with one institution, they need to take some steps to remedy that and to do so quickly regardless of the institution's health," says Greg McBride, a senior financial analyst with bankrate.com.

McBride says a married couple can have much more than $100,000 on deposit and still be protected.

"Each could have an individual account in their own name that would be insured up to $100,000. In addition they could have a joint account together. That account would be insured up to $200,000, a hundred thousand dollars in each depositor's name.

"Retirement accounts have a higher threshold. It's $250,000. So each could have a retirement account in their own name insured up to $250,000."

And in case you are wondering, accounts in credit unions are also federally insured. Usually that's through the National Credit Union Insurance Fund.

For More Information:

FDIC: Insuring Your Deposits

FDIC Sets Rule to Identify Depositors at Failed Banks

Where can you stash your cash?