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

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

Midcoast Federal Credit Union

Several members of our community have reported that Midcoast 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 Card and ID
Notes -
Official Response (Email or Phone)

We do not use any systems to verify a new account. We need a valid photo ID and your SSN. If you wanted a debit card or Visa credit card, we would pull a credit report.

Top Banks That Don’t Use ChexSystems

Below you will find banks that don’t use ChexSystems as an alternative to Midcoast 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 Now
The 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.

Learn More
Main Office
831 Middle St Bath, ME 04530-2401
Deposit Insurance
NCUA
Established On
-
CEO
Joseph R Gervais
Headquarter
Maine
Number of Members
15,302
Community Bank
-
Institution Class
Federal Credit Union - Community credit unions
Institution Type
Credit Union
Credit Union Programs
Brokered Certificates of Deposit
Low Income Designation
No
Member of FHLB
Yes
Total Assets
$138,330,344
Asset Concentration
-
Charter Number
10898
Routing Number
-
Membership Eligibility

In order to become a member of Midcoast Federal Credit Union you must meet these guidelines.

Persons who live, work, worship or attend school in, and businesses, and other legal entities located in Sagadahoc County, Lincoln county, Knox County or the following towns in Cumberland County, Maine: Brunswick, Harpswell, or Freeport.

Sagadahoc County includes: Bath, West Bath, Arrowsic, Bowdoin, Bowdoinham, Georgetown, Phippsburg, Richmond, Topsham, Woolwich, and Perkins Township- Swan Island, and Five Islands.

Lincoln County includes: Alna, Boothbay, Boothbay Harbor, Bremen, Bristol, Damariscotta, Dresden, Edgecomb, Hibberts Gore, Jefferson, Monhegan Plantation, Newcastle, Nobleboro, Somerville, South Bristol, Southport, Waldoboro, Westport, Whitefield, Wiscasset.

Knox County includes: Appleton, Camden, Criehaven township, Cushing, Friendship, Hope, Isle au Haut, Matinicus Isle Plantation, North Haven, Owls Head, Rockland, Rockport, South Thomaston, St. George, Thomaston, Union , Vinalhaven Island, Warren, Washington.

Cumberland County includes: Brunswick, Harpswell, and Freeport.

Accounts Offered
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Electronic Services
Bill Payment, Account Balance Inquiry, Share Draft Orders, Remote Deposit Capture, Share Account Transfers, Loan Payments, New Loan, Mobile Payments, View Account History, Download Account History, e-Statements
Access to Electronic Services
Audio Response/Phone Based, Automatic Teller Machine (ATM), Home Banking via Internet Website, Mobile Banking
Services & Products: Credit
Business Loans, Participation Loans, Real Estate Loans, Overdraft Protection/ Courtesy Pay, Share Secured Credit Cards, Risk Based Loans
Services & Products: Depository
No Cost Share Drafts, Health Savings Accounts, Business Share Accounts, Share Certificates with low minimum balance requirement
Services & Products: Financial Education
Financial Education
Services & Products: Other
No Cost Bill Payer, Student Scholarship
Services & Products: Transactional
Money orders, No surcharge ATMs, ATM/Debit Card Program