myMAX Online Branch Enhanced Login Security
Dear Member,
MAX is working hard to make your online financial experience as secure as possible!
In response to your questions regarding the rollout of our Enhanced Login Security System, I would like to share with you some information about the federal regulations that prompted the need for that additional step to protect your account information.
In August of 2006, the National Credit Union Administration (NCUA) issued Letter Number 06-CU-13 that addressed Authentication for Internet Based Services in response to guidance issued by the Federal Financial Institutions Examination Council (F.F.I.E.C.). This letter from NCUA, the Federal regulatory agency that governs credit union policies and practices, requires Credit Unions that offer an Internet-based Service where a member can access account information or transfer funds to other parties, to implement multifactor authentication or layered security.
Multifactor authentication is a term used to describe an extra layer of authenticating (or “identifying”) a member. Member number and password alone are no longer sufficient authentication, as determined by NCUA.
The final layer of new security is the authentication of your computer. MAX has the ability to recognize the computer or computers from which you usually log on. If the system detects a suspicious login due to an unfamiliar computer, it will automatically present you with a series of challenging questions that you will have pre-selected, such as what is your favorite restaurant, what is your favorite movie, what is your favorite food or what is your favorite book. These questions are ones that it is unlikely that someone would know by stealing your wallet or checkbook.
MAX refers to multifactor authentication as “Enhanced Login Security” to communicate to you, our members that we are striving to protect your account information as we comply with NCUA requirements.
We apologize for any inconvenience our Enhanced Login Security system has caused, but we must take every precaution necessary to provide you with the best quality protection.
MAX's implementation of this new layer of online security is for your protection!
Thank you for choosing MAX, Your Community Credit Union!
Sincerely,
H. Greg McClellan
President & CEO
MAX, Your Community Credit Union!
Learn more about Enhanced Login Security >
View Enhanced Login Security FAQ's >
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