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This provides deposit insurance for credit unions in much the same way as the FDIC provides insurance for banks. Look for the NCUA logo at your credit union's teller stations. The standard maximum limit is $250,000 per individual account holder, per federally insured credit union. (To check on whether your credit union accounts are fully covered, use NCUSIF's coverage estimator at http://webapps.ncua.gov/ins.)
As long as you stay under the limit for each ownership category, you can safely keep much more than $250,000 in one bank. These are the four most common categories of ownership: Single Accounts. These are accounts in only one person's name. All accounts owned by the same one person at the same insured bank are totaled and insured up to $250,000.