Posted: July 6, 2023
Q: What is Two-Factor Authentication (2FA)?
A: Two-Factor Authentication (2FA) is an additional layer of security that helps protect your accounts by requiring two different types of verification before granting access. It typically involves something you know (like a password) and something you have (like a unique code).
Q: Why is Two-Factor Authentication important?
A: Two-Factor Authentication adds an extra layer of security to your accounts, significantly reducing the risk of unauthorized access. It helps protect your personal and financial information, making it more difficult for hackers or unauthorized individuals to gain access to your accounts.
Q: How does Two-Factor Authentication work?
A: With Two-Factor Authentication, when you log in to your account, you will be prompted to enter a verification code. This verification code is often sent to your mobile device via SMS or to your email on file with the credit union. By requiring this additional step, even if someone has your password, they won’t be able to access your account without secondary verification.
Q: Will Two-Factor Authentication be mandatory for all Labor Credit Union members?
A: Yes, to ensure the highest level of account security, Two-Factor Authentication will be mandatory for all members. We want to provide you with the best possible protection for your financial information.
Q: How will I receive the Two-Factor Authentication code?
A: The Two-Factor Authentication code can be sent to your registered mobile phone number via SMS, or your email. During the setup process, you will be guided on how to choose your preferred method.
Q: What if I don’t have a mobile phone or prefer not to receive SMS codes?
A: If you don’t have a mobile phone or prefer not to receive SMS codes, you can choose to use your email as an alternative method for generating the verification code.
Q: Can I opt out of Two-Factor Authentication?
A: For the security of your account, Two-Factor Authentication is mandatory for all members. However, we have implemented user-friendly and efficient methods to ensure a seamless experience when using 2FA.
If you have any further questions or need assistance with Two-Factor Authentication, please don’t hesitate to contact our dedicated Financial Wellness Advisors. We are here to help you.