If you’ve been denied a checking account in the past, you’re not alone. Many banks and credit unions rely on ChexSystems, a reporting agency that tracks overdrafts, unpaid fees, and closed accounts.
These records can stay on your file for up to five years, which often makes opening new accounts more difficult during that time.
How ChexSystems Can Affect Banking Access
Roughly 80% of banks and credit unions in the U.S. use ChexSystems to evaluate new applicants. If your file includes negative marks, your application could be declined.
However, not every financial institution follows this practice. Some skip ChexSystems altogether, and others offer second chance accounts to help members rebuild their banking record and restore access to standard financial services.
Tower Federal Credit Union’s Policy on ChexSystems
Tower Federal Credit Union does not use ChexSystems when reviewing new account applications. That means you can open a checking or savings account even if your ChexSystems file includes negative information.
The credit union offers several account types, ranging from simple checking options to accounts with added benefits. This flexibility makes Tower Federal a strong option for people who want a fresh start with reliable, accessible banking.
Other Banks and Credit Unions That Don’t Use ChexSystems
If Tower Federal Credit Union isn’t quite the right fit, you still have other options. The following banks also make it easy to open an account without ChexSystems:
SoFi
- Up to $300 sign-up bonus with direct deposit
- No minimum opening deposit
- Earn up to 3.80% APY
- Over 55,000 fee-free ATMs
- Early pay with direct deposit
Current
- Build credit and earn points with every swipe
- No minimum opening deposit or maintenance fees
- Get paid up to 2 days faster
- No credit check or ChexSystems
Chime
- Up to 3.75% APY on a high-yield savings account
- Over 47,000+ fee-free ATMs
- Up to $200 fee-free overdraft coverage
- Get paid up to 2 days early with direct deposit
Learn More
- Banks That Don’t Use ChexSystems – Take the first step to rebuilding your banking history with our list of banks that do not use ChexSystems for account approval.
- Credit Unions That Don’t Use ChexSystems – Find a credit union that will work with you, not against you. Learn about the credit unions that don’t use ChexSystems.
- Am I in ChexSystems? – Unsure if you’re in ChexSystems? Learn how to find out and take control of your financial status.
- How to Get Out of ChexSystems – Learn how to get out of ChexSystems in four simple steps.
- Second Chance Checking Accounts – Take control of your financial future with our list of over 250 banks that offer second chance checking accounts.
