New Mexico Second Chance Banks & Credit Unions

Nowadays, it can be really hard to find a bank that doesn’t use credit reporting agencies in New Mexico. But have no fear! Other options might be even better. A second chance bank account is a version of a standard checking account offered by a financial institution that doesn’t work with a credit reporting agency like EWS or ChexSystems. The bank can still check your history, but because it is a second chance bank, it offers an account with a slightly higher monthly payment.

At the end of the day, it’s not about giving out a loan or mortgage, but about letting you manage your funds!

Bank of Albuquerque - "The New Challenger"

If you’re having a hard time getting past a regular checking account, perhaps, due to your past financial mishaps or challenges, the Bank of Albuquerque offers a second chance checking account through its Opportunity Banking Account. As the account name speaks for itself, it’s meant to give you the “opportunity” to re-establish a solid checking history. However, you’ll need a minimum initial deposit of $50 to open an account and there’s a monthly service fee, which can be reduced if you enroll in a qualifying direct deposit.

Nonetheless, here’s are some other features of the account:

FREE Visa debit card
Access to online and mobile banking
Convenient QuickSave tool to help you save money
One complimentary overdraft fee refund per year
Access to 24,000 ATMs across the country

This bank is located in and around Albuquerque and Rio Rancho.

Click to Open an Opportunity Banking Account Today!

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

Bank of the West

Bank of the West does look at your ChexSystems. However, they still offer a second chance with their Fresh Start Checking Account. For as long as it has been a year since you’ve had an issue with your ChexSystems and you have no history of fraud, the approval of your application should be easy.

Here are the top features of the account:

A Bank of the West debit card
Unlimited check writing
Unlimited Bank of the West ATM access
Mobile banking
Online banking with bill pay
Free bankers-by-phone access

This bank can be found in more than 20 locations in New Mexico, including but not limited to Albuquerque, Anthony, Cedar Crest, Las Cruces, Los Lunas, and Rio Rancho.

Learn more about Bank of the West