Considering Minnesota Valley Federal Credit Union or already applying for its account? Find out whether Minnesota Valley 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.
Several members of our community have reported that Minnesota Valley 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.
Below you will find banks that don’t use ChexSystems as an alternative to Minnesota Valley 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.
|Main Office||1640 Adams St Mankato, MN 56001|
|CEO||Nick S Meyer|
|Number of Members||11,804|
|Institution Class||Federal Credit Union - Community credit unions|
|Institution Type||Credit Union|
|Credit Union Programs||Short-Term, Small Amount Loans (FCU Only), Mortgage Processing, Brokered Certificates of Deposit, Approved Mortgage Seller, Deposits and Shares Meeting|
|Low Income Designation||Yes|
|Member of FHLB||Yes|
Minnesota Valley Credit Union offers free checking, online banking, personal loans, competitive mortgage rates and more from their Mankato, Minnesota offices. As a member of the Shared Branching Network MVFCU members have access to their accounts at over 5,050 locations nationwide.|
Persons who live, work, worship, volunteer, or attend school, and businesses and legal entities located in Blue Earth, Nicollet, or LeSueur counties in Minnesota and immediate family members wherever they may live.
Services & Products
|Electronic Services||Bill Payment, Mobile Payments, View Account History, Account Balance Inquiry, Remote Deposit Capture, External Account Transfers, Share Account Transfers, Share Draft Orders, New Loan, Loan Payments, e-Statements, Download Account History, Member Application|
|Access to Electronic Services||Mobile Banking, Audio Response/Phone Based, Automatic Teller Machine (ATM), Home Banking via Internet Website|
|Services & Products: Credit||Business Loans, Real Estate Loans, 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, Share Certificates with low minimum balance requirement, Health Savings Accounts, No Cost Share Drafts|
|Services & Products: Financial Education||Financial Education, First Time Homebuyer Program, Financial Counseling|
|Services & Products: Other||Bilingual Services, No Cost Bill Payer, Student Scholarship|
|Services & Products: Transactional||No surcharge ATMs, ATM/Debit Card Program, Check Cashing, Prepaid Debit Cards|