<prompt> Human: Im about to open a high interest savings account at a credit union to park my money temporarily. Ive never dealt with a credit union before. Ive done my research to know the difference between a bank and credit union, and for my own personal needs the credit union seems to be the right choice. However, the personal banker at my bank who obviously wants my business is warning me all the cons, and if some financial disaster happens Ill never see my money again. I dont believe him, but then again, Im financially naive. What are your experiences with credit unions? Im more interested in the negative, worst case experiences with credit unions that wouldnt happen at a regular bank. Thanks  <response>: Essentially same protections with a bank apply to a credit union. The insurance isnt FDIC, its called NCUSIF. See the note below for more details, its still backed by the federal govt. He is completely full of shit and just doesnt want you to take your money elsewhere. From a credit union website : The shares in your credit union are insured by the National Credit Union Share Insurance Fund NCUSIF, which is backed by the full faith and credit of the United States Government. Established by Congress in 1970 to insure member share accounts at federally insured credit unions, the NCUSIF is managed by NCUA. 