FAQS
What is Enhanced Authentication?
Enhanced Authentication is a security feature that uses multiple factors to authenticate our Online Banking site to
members and to validate your identity when you log on to the Online Banking site.
Why do we use Enhanced Authentication?
As the incidence of online theft has risen, we have implemented multi-factor levels of authentication. Enhanced Authentication adds additional security to our Online Banking platform and will better protect you from falling victim to Internet crimes.
How is Enhanced Authentication more secure?
In today’s online environment, scammers may attempt to steal your identity by impersonating web sites you trust. Verifying the owner of the website and your phrase protects you from accidentally revealing your username and password to a fake Online Banking web site.  When you enroll in Enhanced Authentication, you select a Security Phrase known only to you. Choose something that is memorable to you. Whenever you log on to Online Banking, you will see your phrase so you know that you are accessing your Online Banking site and not a bogus site. The phrase does not affect or change your Logon ID and Security Code information — this information remains the same. DO NOT use your Security Code as your phrase. We also check the computer or device that you use to access your Online Banking site. If you use multiple computers to access Online Banking (for example from work and home), the first time you log on to that computer after enrolling in Enhanced Authentication, you will be asked to provide the answer to one of your challenge questions. Once you are successfully logged on, that computer is registered and you will not be challenged the next time you log on from that computer.
What happened to my image?
The purpose of the image was to act as an anti-phishing mechanism, a visual indicator that you are on the correct site. The image has been replaced with a Security Phrase determined by you at the time you reenroll. Each time you logon you will need to look for your Security Phrase on the Security Code page much in the same way you previously had looked for your image.
What is my Logon ID?
Your Logon ID did not change. Use the same Logon ID you used before you enrolled in Enhanced Authentication.
What is my Security Code (password)?
Your Security Code (password) did not change. Use the same code you used before you enrolled in Enhanced Authentication.
What happens if someone compromises my Online Banking password? How will Enhanced Authentication
prevent them from accessing my accounts with Online Banking?
If someone tries to log on to your Online Banking account from a computer that you did not register for Enhanced Authentication, they will be challenged to answer one of your Challenge Questions. Since they will not be able to answer the question correctly, they will not be able to log on.
Can I change the phrase or questions I established when I enrolled for Enhanced Authentication?
Yes, you can change your phrase or challenge questions at any time from the Self Service page.
What happens if I get locked out?
If you get locked out, you will receive an error message that specifically states “Your account has been locked.”
If you have a valid email address on file within the online banking, the message will also tell you that an email has been sent with a temporary Security Code. If you do not have a valid email address in online banking, you must contact customer service to have your access unlocked. We recommend that you ensure that your email address in online banking is always up-to-date.
Below are the common reasons you may not receive an email with the temporary Security Code.
 You have a spam blocker or some other type of control preventing the email from being delivered.
 The email address in online banking either does not exist or is not correct. Note: You can update
your email address from the Self Service page through Personal Options.
If you do not receive an email containing a temporary Security Code, you will need to contact customer service. Log in with the temporary Security Code. You will be asked to reenter a new security code and you may also be required to reenroll in Enhanced Authentication.

If you have any questions after the change-over, please do not hesitate to call Member Services.

Zero-percent financing is one of the most popular incentives in the automotive industry, and it is offered by the finance arms of major auto manufacturers. Just as they offer vehicles with cash rebates, car companies subsidize the finance arms of their corporations, essentially pre-paying the loan interest on their vehicles.
Does the “zero-percent financing” offer work to bring buyers into dealerships? According to the J.D. Power Dealer Finance Study, it is considered one of the most successful motivators to get car buyers into dealerships. While the enticement of zero-percent financing may bring you into a dealership, many car buyers do not end up with the zero-percent loan, and for a variety of reasons.

When it comes to zero-percent financing, here are the facts:

1. Zero-percent financing usually requires a shorter-term loan, which can require higher payments.  The most common zero-percent finance deals do not extend for as long as conventional auto loans, so many buyers may opt for the conventional loans in order to keep the monthly payments lower.

2. Zero-percent financing usually requires unblemished credit to qualify.  While some finance programs are moving to go after an expanded audience of buyers with less than perfect credit scores, the majority still require excellent credit. Buyers with less than sterling credit generally do not qualify for them. Stistaically, only 9 in every one hundred buyers will qualify.

3. Zero-percent financing is available only on a limited number of models in dealer stock, not on special orders or option packages.  Most zero-percent deals tend to apply only to the vehicles on the dealer lot and they may not include special option packages or premium models.  Car dealers know that buyers tend to fall in love with cars — not interest rates. So, once they see a dealer’s inventory, the particular model they may not feature the 0% deal that attracted them to the showroom in the first place.

4. Zero-percent financing is usually offered in an either/or situation with a cash rebate and you must choose between the two.  Most of the programs typically follow this formula. For most consumers, taking the rebate is the better deal.

5. If you qualify for zero-percent financing, negotiating a lower price on the vehicle may be more challenging.  Be sure to negotiate the deal before discussing or applying for the zero-percent financing. As always, we recommend you do your homework before buying.

So, you’ve fallen in love after the test drive, and now you find out that, guess what…zero percent won’t work for you. Most consumers will then take the path of least resistance and accept an alternate financing option from the dealership without much quibbling. That could take away one of the buyer’s key levers in the negotiating process: the ability to play one financing offer against another.

Once you have fellen in love with the vehicle, both the salesperson and the buyer are inclined to shift the focus of the discussion to the size of the payment rather than the interest rate.

Gary Pierce of Lending Tree Autos, an online clearinghouse for car loans, says consumers’ tendency to go along with the process shows up in his statistics. One out of 10 pre-approved Lending Tree deals doesn’t survive the negotiating process in the dealership; the buyer accepts a dealership offer instead. That’s a testament to the persuasive power of the salesperson and the environment.

It usually takes a competing offer from a non-dealership source to lead a dealer to come up with the best possible counter-offer. Consumers don’t normally reach that point unless they have a pre-approved offer  in hand as a bargaining chip. Getting pre-approved before you enter the dealership is fast, easy, and gives you the bargaining power.

Do your homework before you shop for a car, and don’t be fooled by offers that sound too good to be true. Usually, they are. If you would like advice or help an auto financing decision, MCT’s skilled loan specialists are ready to help. Simply call or stop by and we will help you find the best financing deal.

Please download and fill out and bring in our easy “Switch Kit”

SwitchKit.pdf

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This long distance phone scam causes consumers to inadvertently incur high charges on their phone bills. Consumers usually receive a message telling them to call a phone number with an 809, 284, 649, or 876 area code in order to collect a prize, find out information about a sick relative, etc. The caller assumes the number is a typical three-digit U.S. area code; however, the caller is actually connected to a phone number outside the United States, often in Canada or the Caribbean, and charged international call rates. Unfortunately, consumers don’t find out that they have been charged higher international call rates until they receive their bill.