Local banks and credit unions are being flooded with phone calls from concerned members who want to know if their money is safe.

In the midst of what some are calling an American economy in turmoil, two CEOs from local financial institutions can assure you....your money is safe.

They say because insurance regulated by the FDIC and the NCUA makes sure of it.

It's the investment banks, those that generate funding through different investors and then create products like the sub prime mortgage investments, that are having the most problems.

The average American's money in commercial, community banks and credit unions are safely insured.

But because of what is happening nationally, some local institutions are tightening up what they loan out.

The CEO of River Valley Bank, Steve Anderson says it's more difficult now to get a loan than it was three or four months ago.

"The credit crunch isn't that tight in the community banks, but there are increasing signs that credit availability will continue to diminish," Anderson said.

Despite this, he says those with good credit, less debt and a down payment can certainly have access to mortgage money and other loans.

Cloverbelt Credit Union CEO Paul Chittum says it's business as usual, adding they have plenty of money to lend with rates the same as they've always been.

"If you're coming for a car loan, our rates are the same as they've been. We have plent of money to loan for mortgages. The effect of the bailout or non-bailout is that consumer confidence is not there," he said.

He says many people might shy away from attempting to buy a car or house until this crisis is over.

Both Cloverbelt and River Valley CEOs say they will take phone calls from their members who have questions and concerns about their money and their future.