Million Dollar Mattress
From the Jerusalem Post... "An Israeli woman mistakenly threw out a mattress with $1 million inside, setting off a frantic search through tons of garbage at a number of landfill sites."... Full Article.
This is just one reason to save money in a federally insured credit union such as Piedmont CU. NCUA deposit insurance covers up to $250,000 at this time. There are situations in which the amount is increased. I'll use myself as an example. My wife and I both have our own separate savings at the credit union. We are joint owners of each others' accounts. We also have accounts for our two children on which we are both joint owners. If we had $1,000,000 we could distribute it in these accounts so as to effectively have it all federaly insured under NCUA rules.
The woman in the story was obviously a dedicated saver who lived within her means. I can't judge her for her stuffing the mattress because I have no idea what her situation in Israel is or what the banking system is like there. So while it's true that we have had some turbulent times of late on our side of the world, don't let the fear of what might happen cause you to make bad decisions. Money is safer in the credit union than it is anywhere else!