In comparison to the rest of the United States, Louisiana has one of the highest populations of “unbanked” households, meaning that no one living in the home has a checking or savings account. To put it in perspective, there are 11.4% of unbanked households in the state, which equates to nearly 200,000 Louisiana homes.
There’s a whole laundry list of reasons why a person lives without a bank account. A survey by the FDIC shows that the majority of unbanked people cite that they don’t have enough money to meet minimum balance requirements or they simply don’t trust banks. A growing amount of the population has also experienced being blacklisted by a consumer reporting agency called ChexSystems, making it next to impossible to open an account.
If you’ve ever experienced hardships in the past when it comes to managing a bank account, you may have been reported to ChexSystems. Whether you’ve experienced a number of overdraft fees, unpaid debts, or involuntary account closures at a previous financial institution, ChexSystems will flag that behavior and keep it in its database for other financial institutions to see.
Fortunately, our job here at CheckingExpert.com is to locate banks and credit unions in Louisiana that will look beyond a ChexSystems record and even a bad credit score. Our list contains banks and credit unions that offer second chance checking accounts that specialize in getting customers back into the banking system. In addition, some banks on this list won’t view your record with ChexSystems at all during the application process. Here are the banks and credit unions that want your business!
Second Chance Banking in Louisiana for November 2023Open an account today! Did we leave your financial institution off this list of The Best Second Chance Banking in Alabama? Has there been a change in any of the listings? Please let us know.
Best Second Chance Banks by State
To find more information and additional options available in your area, select your state from the list below and explore your options.