Does Alliance Federal Credit Union Use ChexSystems? Is it Good for Bad Credit?
Considering Alliance Federal Credit Union or already applying for its account? Find out whether Alliance Federal Credit Union uses ChexSystems and offers a second chance checking or savings account.
You walk into your local bank branch and sit down with your bank representative to talk about opening a checking account. Maybe you’ve been through some financial difficulties in the past, but you are ready to get back on track. But maybe not. You may think your financials are in good shape.
You wait with bated breath through the application process, only to let it out in a sigh of disappointment.
The banking representative turns to you and says, “I’m sorry, but we can’t open an account for you right now. You were rejected by ChexSystems.”
At that point, the banker probably explained ChexSystems to you in detail. If you haven't already, you can read our in-depth guide to ChexSystems and ChexSystems removal, and why it may be having a negative impact on your financial life.
Denials like these are surprisingly common. In fact, CNN has reported that approximately 15% of bank applicants are denied regular bank accounts.
Alliance Federal Credit Union
Several members of our community have reported that Alliance Federal Credit Union DOES use ChexSystems but you can still qualify for an account if you don't owe any money to the bank. A second chance checking or savings account is another option to consider. Check out their financial products below and visit the official website to learn more.
Details | |
|---|---|
| Method of Verification | Credit report, OFAC, Insta-Check |
| Notes | - |
| Official Response (Email or Phone) | When a person wishes to open a new account, the first thing we do is verify their identity. Most commonly, the person presents an unexpired, government-issued, picture ID, such as their drivers license and their Social Security card. Also acceptable would be a passport or military ID. After we have verified their identity, we also run a credit report from the Equifax credit bureau, and OFAC report, and a report from Insta-Check. We want to make sure that we have verified the identity of the person before they become a member of Alliance Federal Credit Union. We like to see a minimum credit score of 500 for new accounts. The minimum score for loans varies, but we would want to see it quite a bit higher than 500 for loans. |
Top Banks That Don’t Use ChexSystems
Below you will find banks that don’t use ChexSystems as an alternative to Alliance Federal Credit Union in any step of the process. You can be sure that these banks won’t ever cross reference your records before deciding whether to let you open an account.
The list is suggested by our readers. Please consider the Unchex editor's curated list of banks that don't use ChexSystems for all the banking options available nationwide.
Editor's Choice
CIT Bank
The CIT Bank Savings Connect account is the best among banks that don’t use ChexSystems. Unlike many other non-ChexSystems accounts, the CIT Bank Savings Connect is also a high-yield savings account that can help grow your savings much faster than most other banks can.
Features and Benefits:
- Interest-bearing
- Minimum balance requirement: $0
- Monthly maintenance fee: $0
- Monthly ATM charge reimbursements of up to $30
Why is it recommended for you?
Although CIT Bank has a relatively high minimum deposit ($100) to get started, it offers one of the best interest rates among online banks, and has no opening, monthly servicing, online transfer or incoming wire fees.
Apply NowThe Best Alternative
The Complete ChexSystems Removal Kit
Our comprehensive ChexSystems Removal Guide includes the exact documents and instructions guaranteed to help you get off ChexSystems and start banking again.
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Membership Eligibility
In order to be a member at Alliance Federal Credit Union you must live, work or worship in Lubbock or Hockley County.