Online banking customer awareness and information

What is Reg E?

Federal Regulation E establishes the basic rights, liabilities, and responsibilities of consumers who use electronic fund transfer (EFT) services and of financial institutions that offer these services. Consumer transactions that are initiated electronically are covered by these rules.

What protections are provided to consumers who use internet banking?

To protect your account, we encourage you to regularly review your statements and account activity. If you believe an unauthorized EFT or error has been made on your account, contact us immediately. If you notify us within two business days after you learn of the unauthorized transaction, your losses may be limited to as little as $50. Failure to notify us within two business days may result in additional losses.

Where can I get more information about Reg E provisions?

Further information on Regulation E and how it applies to your Everence Federal Credit Union account is available in the Everence Membership disclosure booklet.

Will Everence ever call me and ask for personal information?

Everence will never contact a member to ask for his or her banking credentials by telephone or email. Any attempt at this should be immediately declined, and information about the attempt passed on to Everence (see contact info below).

Scenarios where Everence may contact you:

  • If there is suspicious activity detected on your debit or credit card, we will call to verify transactions or alert you of any compromise.
  • If an MSR suspected fraudulent activity on your account at a branch, we will call to verify the incident.
  • We call new members to confirm the account is set up properly and ask if any other services are desired.
  • We may call to see if you would be interested in working with an advisor if you have an account that might benefit from other services.
  • We may call to invite members to a special upcoming event.
  • Other ways we may communicate would include a flier in your statement mailing, a pop-up message in online banking, or an email providing some information. (For security purposes, emails will not contain links.)

Protections for commercial accounts

If you have a commercial or business account, we encourage you to perform a periodic assessment to evaluate the security and risk controls you have in place. The risk assessment should be used to determine the level of risk associated with any internet activities performed and any controls in place to mitigate these risks. Additional security recommendations include:

  • Limiting employee access
  • Restricting administrative rights
  • Establishing separate passwords

What do I do if I suspect a problem with my accounts?

If, at any time, you notice suspicious account activity or have other concerns about your account security, please contact our service center at (800) 451-5719, option 7.

More Information about protecting your computer and your personal information

For courses covering a variety of online security topics provided by our security partner, Digital Defense, please visit our training and education site.

In the news: denial of service attacks

There have been a number of reports in the news of distributed denial of service (DDOS) attacks against a number of large financial institutions. While the attacks have been aimed primarily at large financial institutions, we take the threat seriously.

DDOS attacks are service interruption attacks. Somewhat like a busy city street during rush hour, a DDOS attack bombards a website with traffic, slowing everything to a crawl or even stopping regular operation. During such an attack, no account information is at risk. The goal isn’t to steal information, but to disrupt service.

We have reviewed our online banking host’s DDOS mitigation plan, and are comfortable with its process. Its objective is to maintain a good balance between risk and cost effectiveness. Downtime could happen, but should be of short duration.

If we ever experience a DDOS attack, access to online banking and shared branching may be disrupted. We would ask for your patience as steps are taken to restore service. You can be assured your account information is secure. And you are always welcome to call or stop in to one of our branches, or use our audio teller, to conduct your financial business.