For "chum" as in fish bait:
* Appât (most common)
* Pâté (for a type of chum made with fish scraps)
* Morceaux de poisson (literally "pieces of fish")
For "chum" as in friend:
* Copain (male friend)
* Copine (female friend)
* Ami (more formal, friend of either gender)
* Poto (slang, close friend, mainly in French Canada)
For "chum" as in a derogatory term for someone:
* Type (general, not very strong)
* Mec (male, slang)
* Fille (female, slang)
* Bonhomme (male, more insulting)
* Fiancée (female, more insulting)
The best translation will depend on the context of the sentence and the intended meaning.