To ensure the security of your online transactions, LUSO Federal Credit Union uses additional “layered security” measures when appropriate. For instance, we might use these measures if increased risk to your transaction security warrants it. Such additional verification procedures or layers of control include:

• Call-back (voice) verification, email approval, or text-based identification
• Member verification procedures, especially when opening accounts online
• Analyzing banking transactions and flagging suspicious patterns, such as monthly member activity that suddenly switches from paying five vendors $10,000 a month to paying a completely new vendor $100,000
• Establishing dollar limits that require manual intervention to exceed a preset limit

At LUSO Federal Credit Union, we take extra precautions to ensure your online security. Following supervisory guidance from the Federal Financial Institutions Examination Council (FFIEC), we rely on both single- and multi-factor authentication, as well as biometric login. Prioritizing security means enabling you to use online and mobile banking with confidence.

Online security begins with the authentication process used to confirm that it’s you logging in and not someone who has stolen your identity. Authentication generally involves one or more basic factors:

• Something you know (e.g., your password or PIN)
• Something you have (e.g., your ATM or debit card)
• Something unique to you (e.g., your fingerprint or other biometric characteristic)

Single-factor authentication uses one of these methods. Multi-factor authentication uses more than one, and thus is considered a stronger fraud deterrent.

For example, when you use an ATM, you’re utilizing multi-factor authentication. Factor #1 is something you have, your ATM card. Factor #2 is something you know, your PIN.