Institutions CoVantage Credit Union

Does CoVantage Credit Union Use ChexSystems? Is it Good for Bad Credit?

Considering CoVantage Credit Union or already applying for its account? Find out whether CoVantage 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.

CoVantage Credit Union

Several members of our community have reported that CoVantage 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
Notes -
Official Response (Email or Phone)

We use Trans Union Credit Reporting Agency. Yes, we do look at 650 or higher for a checking account. However, we do look at the type of collections that a person may have on their bureau and make our decision. Some accounts may be opened with less than a 650.

We do not use any of the other systems you listed.

Top Banks That Don’t Use ChexSystems

Below you will find banks that don’t use ChexSystems as an alternative to CoVantage 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

Chime

Chime is a fast-growing internet-only bank. Unlike big banks, Chime was created during the smartphone era and, therefore, features an app that is more than just a way for customers to review their bank accounts.

Features and Benefits:

  • Free Visa® debit card
  • Free online banking and mobile banking/deposits
  • No monthly account balance minimums

Why is it recommended for you?

Chime accepts all customers who apply. Even if you have bad or poor credit or have been blacklisted by ChexSystems or credit bureaus.

Apply Now

The Basics

Main Office 723 6th Ave Antigo, WI 54409
Deposit Insurance NCUA
Established On -
CEO Brian Prunty
Headquarter Wisconsin
Number of Members 83,192
Community Bank -
Institution Class Federally Insured State-Chartered Credit Union
Institution Type Credit Union
Credit Union Programs Mortgage Processing, Brokered Deposits (all deposits acquired through a third party), Approved Mortgage Seller
Low Income Designation No
Member of FHLB Yes
Total Assets $1,134,981,271
Asset Concentration -
Charter Number 66848
Routing Number 275981556
Membership Eligibility

You are eligible for membership if you fit into one of the following groups:

  • You live or work in the Wisconsin counties of Brown, Clark, Florence, Forest, Langlade, Lincoln, Marathon, Menomonee, Oconto, Oneida, Outagamie, Portage, Price, Shawano, Taylor, Waupaca and Wood, Wisconsin: persons residing or employed in Dickinson and Iron Counties, Michigan.
  • You are a spouse, parent, child, stepparent, stepchild, sibling, step-sibling, grandparent, step-grandparent, grandchild or step-grandchild of a current CoVantage Credit Union member.
  • You are a member of Servco FS Cooperative (formerly Farm Bureau Cooperative) in Antigo.
  • You are a present student or alumni of a post-secondary school in Marathon County.
  • You were a member at the time of the merger with Shawano Paper Mills Employees Credit Union.
  • You are an employee of Little Rapids Corporation, Shawano Mill, or Weber Veneer & Plywood Company.
 

Services & Products

Accounts Offered -
Electronic Services New Share Account, New Loan, Remote Deposit Capture, Loan Payments, e-Statements, View Account History, Share Draft Orders, Download Account History, Bill Payment, Account Balance Inquiry, Share Account Transfers
Access to Electronic Services Mobile Banking, Audio Response/Phone Based, Home Banking via Internet Website, Automatic Teller Machine (ATM), Kiosk
Services & Products: Credit Participation Loans, Business Loans, Real Estate Loans, Overdraft Protection/ Courtesy Pay, Interest Only or Pymt Option, Indirect Consumer Loans, Micro Consumer Loans, Share Secured Credit Cards, Risk Based Loans, Pay Day Loans, Micro Business Loans, Overdraft Lines of Credit
Services & Products: Depository Business Share Accounts, No Cost Share Drafts, Health Savings Accounts
Services & Products: Financial Education In-School Branches, Financial Counseling, Financial Education, Financial Literacy Workshops, First Time Homebuyer Program
Services & Products: Other Insurance/Investment Sales, No Cost Bill Payer
Services & Products: Transactional Check Cashing, No surcharge ATMs, ATM/Debit Card Program, Money orders, Prepaid Debit Cards