How to determine if your savings are protected

— -- Q: I have my emergency cash at ING. Is it safe?

A: As major banks and brokerage firms announce massive write-offs of questionable mortgage loans, this kind of question has been coming in to Ask Matt frequently about both banks and brokerage firms.

ING Direct is a bank. Account holders are protected by the Federal Deposit Insurance Corp. The FDIC stands behind accounts up to $100,000 per depositor per insured bank, and up to $250,000 for some retirement accounts. You can read more about FDIC insurance here.

To find out if ING, or any bank, is a member, click on the Bank Find link. Enter the name of the bank and scroll down until you find it. ING is a member. To save you time, here's a direct link to its report.

For an answer to similar questions about a brokerage account, check this previous Ask Matt column. In the case of a brokerage, it's a good idea to make sure before you invest that it's a member of Securities Investor Protection Corp. (SIPC). This organization was created to help protect brokerage investors from losses due to fraud. You're protected for up to $500,000, including $100,000 in cash. The column linked above will tell you more about checking up on brokerages.

Matt Krantz is a financial markets reporter at USA TODAY and author of Investing Online for Dummies. He answers a different reader question every weekday in his Ask Matt column at money.usatoday.com. To submit a question, e-mail Matt at mkrantz@usatoday.com. Click here to see previous Ask Matt columns.