| NEW PRODUCT |
Important Information Regarding Home Banking
New Authentication Procedures for Home Banking to protect you!
The Credit Union will be implementing a new “two-factor authentication” system on
March 15, 2007 and you will see a few changes in your home banking login. The new
authentication system will help combat fraud and identity theft. Anyone who uses home
banking will be affected.
The National Credit Union Administration (NCUA) stated: Authentication is the
process of verifying a member’s identity using a variety of methodologies and
technologies before the member gains access to the system. It is a way to ensure
members are who they say they are.
The new authentication system will require existing home banking members to:
• enter their account number
• confirm or enter their email address (an email address will be required)
• enter their existing password
• decide on and enter a confidence word
• choose and answer challenge questions
After the authentication process is complete you will be directed to the account balances
page. All subsequent log-ins from the same PC will require only your account number
and password. If you are using a PC that you have not previously used after the “twofactor
authentication” you will be challenged and must correctly answer the challenge
question(s) previously setup. Any future log-ins from that PC will only require your
account number and password. A few other scenarios that may require you to
successfully answer a challenge question include:
• not using a particular PC to access home banking for three months or more
• purchasing a new PC
• changing browsers
• clearing cookies
The initial log-in will also ask you for a “Confidence Word.” The confidence word will
then be displayed every time you access home banking before you enter your password.
If the “Confidence Word” is missing or incorrect you should not enter your password; if
you do you may be directed to a phishing site, where your confidential information may
be compromised.
These extra precautions and “two factor authentication” system are being implemented in
order to protect your identity. This is just another way the Hanover Federal Credit Union
is looking out for your best interest.
