Because of the wild roller coaster ride we are now enjoying (read enduring) with our economy a lot of people are really concerned about the safety of the money they have invested in their bank. Each year a certain number of banks do fail, but with all of the doom and gloom coming out of Washington right now, the visibility has really been raised to a new level.
If you are concerned about the safety of your money in your particular bank, consider doing some research over at BankRate.com. They have a search tool called Safe & Sound that will provide you with a rating of how safe your financial institute is.
Bankrate.com’s Safe & Sound® service is a proprietary system designed to provide information on the relative financial strength and stability of U.S. commercial banks, savings institutions and credit unions.
I am sure that not every bank or credit union is in their database, but my credit union was listed and I am happy to say they received 4 stars.
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