Consumers Credit Union is committed to provide leading-edge products and services to our Members. When it comes to Online Banking, that means providing a fast, convenient, secure environment for users to manage their accounts, pay bills, and move money.
At the same time, transactions such as these can carry a higher risk than other types of activities performed within Online Banking. Thus, it is critical such transactions are monitored and analyzed for fraud; when potential fraud is detected, it's equally important to validate users are who they say they are. In order to accomplish this objective, CCU and our Online Banking and Bill Pay providers have put controls in place to analyze the transactions and "challenge" users appropriately to validate their identity before the transaction is allowed to execute.
To help assure these controls in place, users may be prompted with new, additional levels of verification to ensure the transaction is a valid, authorized one. These verification protocols are in addition to the standard public key encryption algorithm (RSA), multi-factor authentication (security questions), and Reverse Authentication (site key image and phrase).
This enhanced security measure was implemented as part of our compliance with new, stricter Online Account access regulations. The benefit for you: these measures will help protect both your personal information and your accounts against unauthorized movement of funds.
CCU currently supports two (2) identity verification methods:
- Knowledge Based Authentication (KBA): KBA questions differ from RSA questions in that rather than being picked from a list and answered ahead of time by the user, the questions are sourced dynamically from public databases. KBA questions are designed to be easily answered by the legitimate user, but difficult to answer by a fraudster. KBA questions are available for users over the age of 18 and are accessed from United States-based databases only.
- Out of Band Authentication (OOB): OOB involves both phone and SMS validation. In phone validation, Online Banking presents the user a code before the transaction is allowed to execute. The user selects a phone number (already in our system) and the user then receives an automated phone call. The user enters in the code using their touch tone keypad. Online Banking validates the code, if successful the transaction is allowed to execute. With SMS validation, Online Banking texts a code via SMS to a mobile device number (already in our system). The user then enters the code into Online Banking for validation.
Again, the credit union is committed to providing the safest possible environment for our Members – whether in service center, Online, or over the phone. While we apologize in advance for any inconvenience these measures might cause, we hope you agree it's in our mutual best interest to take all reasonable steps to protect you, your information, and your accounts.