Institutions CPM Federal Credit Union

Does CPM Federal Credit Union Use ChexSystems? Is it Good for Bad Credit?

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

CPM Federal Credit Union

Several members of our community have reported that CPM 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.

Top Banks That Don’t Use ChexSystems

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


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 1066 E Montague Ave North Charleston, SC 29405
Deposit Insurance NCUA
Established On -
CEO James Gergen
Headquarter South Carolina
Number of Members 54,132
Community Bank -
Institution Class Federal Credit Union - Multiple common bond - other
Institution Type Credit Union
Credit Union Programs Deposits and Shares Meeting, Approved Mortgage Seller, Mortgage Processing
Low Income Designation Yes
Member of FHLB No
Total Assets $264,743,146
Asset Concentration -
Charter Number 21971
Routing Number 253279536
Membership Eligibility

In order to become a member you must meet the eligibility requirements. If you live, work or worship in the Charleston area then you qualify for membership. However, if you are in the upstate or midlands area of South Carolina you must work for one of our member companies to qualify. Also, if you are a member of the South Carolina Fire Fighters Association then you automatically qualify for membership.


Services & Products

Accounts Offered -
Electronic Services e-Statements, Share Account Transfers, New Loan, Loan Payments, Mobile Payments, View Account History, Electronic Signature Auth./Cert., Download Account History, External Account Transfers, Share Draft Orders, Bill Payment, Account Balance Inquiry, Internet Access Services
Access to Electronic Services Mobile Banking, Home Banking via Internet Website, Automatic Teller Machine (ATM), Audio Response/Phone Based
Services & Products: Credit Business Loans, Real Estate Loans, Overdraft Protection/ Courtesy Pay, Share Secured Credit Cards, Risk Based Loans, Overdraft Lines of Credit
Services & Products: Depository Share Certificates with low minimum balance requirement, No Cost Share Drafts
Services & Products: Financial Education Financial Education, Financial Literacy Workshops, Financial Counseling
Services & Products: Other Bilingual Services, No Cost Bill Payer, Insurance/Investment Sales
Services & Products: Transactional ATM/Debit Card Program, No surcharge ATMs, Check Cashing, Money orders