New Mexico Banks & Credit Unions That Don't Use ChexSystems

ChexSystems is a reporting agency that keeps track of your bank deposit accounts, such as savings and checking accounts. A ChexSystems report shows the activities on your account, including but not limited to, past accounts that have been closed, involuntary account closure, bounced checks and overdrafts, unpaid negative balances, debit or ATM card abuse, suspected fraud or identity theft, and excessive account application. Also, consumer risk scores are being generated to further evaluate the said accounts. The scores are similar to credit scores and range from 100 to 899. The lower the score, the higher the risk.

Nevertheless, banks and credit unions use this report to decide whether or not they will approve your application for a new deposit account. Hence, if a financial institution sees your report on the negative side, chances are, your application will be declined.

However, while it can be frustrating to have a bad ChexSystems report, you still have a chance. And, if you happen to be in New Mexico, good news awaits you.

Roughly 85% of banks in New Mexico use ChexSystems while some banks offer the so-called “non-ChexSystems checking account or second chance checking accounts” to help people re-establish their credit and financial standing. Below is the list of banks in NM that don’t use ChexSystems.

What Are The Best Banks That Don’t Use ChexSystems in New Mexico?

1st Convenience Bank - "The Unsung Superstar"

Since 1901, 1st Convenience Bank has been putting its customers first. It’s also a non-ChexSystems bank that offers a consumer on-the-go style of banking. Hence, the bank offers an e-Account that leans more towards digital banking. You can either open the account in person with no minimum deposit required or open the account online with a minimum initial deposit of $20.

Nonetheless, your account comes with the following:

  • FREE Gold Key ATM withdrawals
  • A debit Mastercard for purchases and payments
  • A monthly maintenance fee of only $5.00 with E-statement enrollment
  • Bill Pay and money order services

This bank is located inside Walmart stores throughout New Mexico, including but not limited to Alamogordo, Albuquerque, Bernalillo, Carlisle, Clovis, Farmington, Hobbs, Las Cruces, Rio Bravo, Rio Rancho, and Roswell.

Click to Open an e-Account with 1st Convenience Bank Today!


While these five banks made it to our list, know that each one has its unique offers, features, and services. Thus, the best one will almost always depend on your specific needs. Do you want flexibility on your account? Do you want more convenience and/or accessibility? Are you after the minimum deposit required? And so on… The takeaway is, choose the bank that will best fit your needs.

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