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Home Banking Multi-factor Authentication Facts and Questions

Due to new guidelines set forth by the FFIEC or Federal Financial Institutions Examination Council, all Credit Unions are required to implement a new security feature which is called Multi-Factor Authentication. This new login procedure will be implemented soon. We are making available the FAQ below to assist you with navigation for this new security feature. Security is our number one priority for our Members and that is why these additional security measures are needed to prevent phishing attacks and scams and assure you are navigating to the official Credit Union site.

Q. Why is Multi-factor Authentication necessary?

A. With the increasing electronification of business, it is easier than ever to obtain another person's identifying information, and perpetrate identity fraud. To detect fraudulent or stolen identities and stem the increasing tide of losses due to identity fraud, financial institutions need to employ systems that will enable them to stay one step ahead of potential frauds. Multi-factor authentication consists of verifying and validating the authenticity of an identity using more than one validation mechanism.

Q. What is Multi-factor Authentication?

A. Multi-factor Authentication is a system that will allow Florida A&M University Federal Credit Union to verify your computer and login information by using an authentication mechanism relying on more than one type of authentication. Historically, a PIN or password alone represents a single factor authentication. Adding additional authentication mechanisms now will result in a multi-factor authentication.

Q. Why is this change necessary?

A. All financial institutions are now required to implement Multi-factor Authentication for PC Banking. The National Credit Union Administration (NCUA), has mandated that all credit unions implement Multi-factor Authentication by July 2007.

Q. How does FAMU Federal Credit Union' s Multi-factor Authentication work?

A. When you enroll a computer, the software uses a mathematical algorithm to generate a long string of variables called a key. This key is stored in a "cookie" on your computer and is used to generate a six digit number know as a "token". When you log on to Home Banking, that token is automatically generated. Your key and the token are mathematically verifiable in our software, which is what will grant you access to Home Banking.

NOTE: This key does not contain any confidential information.

Q. What steps do I take to login to Home Banking once Multi-factor Authentication is in place?

A. You may login as usual:

  • Go to www.famufcu.com
  • Enter your member account number
  • Enter your password
  • If your computer is enrolled you will receive the following message: Multi-factor authentication is successful. Please enter this token number to complete your authentication. Then enter the number presented to you on the screen and you will be logged on.

Should you receive the following message: Sorry, we don' t recognize your computer, you will have three options:

  • Click on the book mark you saved during the enrollment process
  • Click on a link to have an email token sent to your email address
  • Call our Member Service Department at (850) 222-4541, ext. 221

Please make sure that your computer is enrolled and you have the bookmark saved in your favorites.

Q. What is the token?

A. The token is a six digit number. It will change every time you attempt to log on to Home Banking since it is calculated based on a mathematical algorithm. Do not save this number.

Q. Why do you need to save the bookmark and when do you use it?

A. The bookmark is the backup key. Our new multi-factor authentication system uses cookie technology. The key is stored in the cookie. If you dele your cookies or have your browser set not to save cookies, you click on the bookmark to recreate the cookie and authenticate your computer to our secure sire. It you look at it, it contains a long string of variables. You should never change your bookmark.

Q. Why do you keep getting the sorry, we do not recognize this computer screen on my enrolled computer?

A. You must click the bookmark to have a token generated. The key stored in the cookie uses an IP address as one of the many variables to calculate the token. Dial up users of the Internet are assigned a different IP address every time they connect. Some Internet browsers can be configured to clear this information from your computer. Please use the bookmark or change your browser' s configuration. Even broadband service will periodically change your static IP address as an additional security measure. AOL users beware; AOL frequently changes the IP addresses used in their proxy servers.

NOTE: If you receive the page "sorry, we do not recognize your computer" on an enrolled computer, you must click on the bookmark you created during enrollment.

Q. I was able to enroll one computer, but I use many different computers. Can I enroll more than one computer?

A. Yes. You can enroll as many computers as you like. After you enter your email token you will be asked if you want to permanently enroll the computer. This will take you through the steps to add it to your account and create the bookmark.

Q. What if I don' t have access to my email?

A. Please call our Member Service Department at (850) 222-4541, ext. 221. We will be able to assist you over the phone with enrolling your computer.