Not entirely. Because Elluminate is a software-as-a-service application that's hosted outside HSU, you'll use a combination of your HSU User Name [1] and a separate Elluminate password to access your web conferencing account [2].
Links:
[1] http://www.humboldt.edu/its/glossary/5#term99
[2] http://www.humboldt.edu/its/services/web-conferencing