What’s a Credit Union?
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.
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Who owns a credit union?
Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn't operate in that manner. Rather, each credit union member owns one "share" of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.
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Are savings deposits insured?
Yes. Safer Than Ever. Your accounts are federally insured by the NCUA to at least $250,000. Your deposits are backed by the full faih and credit of the United States Government.
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Do you have additional information about the changes to Online Banking sign-in?
Yes. Here are some answers to the most asked questions:
Q. Why are you adding steps to Internet Home Banking?
A. Federal Regulators determined that the security provided by a single password may be defeated by new technology used by hi-tech hackers. For that reason, as of February 1, 2009 when you sign in for Internet Banking you will be asked to authenticate your primary computer to allow you to express sign-in.
Q. What do you mean by authenticating my primary computer?
A. Authenticating means confirming that you are who you say you are. To secure access to your financial information you will be asked to complete a questionnaire and select a “phrase” that you will only see when you sign-in from your primary computer.
Q. What if I don’t want to authenticate my computer right then?
A. You will be able to sign-in without authenticating 5 more times then will not be able to access your account until registration is completed.
Q. Will I have to go through this process every time that I sign in after February 1, 2009?
A. No. After you authenticate your computer, the Online Banking sign-in will only ask for your account number. Your Password will be requested on the second screen.
Q. What happens if I don’t see the “phrase” I selected?
A. If you don’t see the phrase selected or if it doesn’t match what previously entered, stop immediately and contact Member Service Center.
Q. What happens when I need to access Internet Banking from a computer other than my primary one?
A. You may authenticate as many computers as you wish but don’t authenticate computers accessible by people not authorized to access your accounts.
Q. How do I access my account from another computer?
A. You will be asked if you wish to “Register this computer now” and to enter a Secondary Password using an onscreen keyboard and your mouse. Correctly typing in the Secondary Password will allow you to access Online Banking. This Password must be between 6 and 8 characters.
Q. What’s the difference between my Password and the Secondary Password?
A. Your Password is used to access Online Banking while a Secondary Password is used during the sign-in process from an unregistered computer.
Q. What happens if I enter an incorrect Password?
A. An error message will show if you enter the wrong password. Return to the sign-in screen to try again. You can attempt to sign-in five times before your online banking account is frozen. If that is the case, contact our Member Service Center to reconfirm your identity and have your account unfrozen.
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