Compare legal limits, fees and the true cost of small loans in your state before you talk to any lender. Compare legal limits, fees and the true cost of small loans in your state.
Credit Unions vs Payday Loans in Little Rock, AR
14 credit unions are headquartered in Little Rock, with 227,524 members in total. Credit unions are member-owned and often offer small personal loans and payday alternative loans (PALs) at far lower rates than payday lenders.
- Credit unions
- 14
- Members
- 227,524
- Federal
- 14
- State-chartered
- 0
Credit unions vs payday loan stores in Little Rock
Little Rock has 14 credit unions headquartered here and 3 payday, installment and title loan stores. Local credit unions count 227,524 members — roughly 104 memberships per 100 residents.
Credit unions
14
6.4 per 100k residents
227,524 members
Payday & loan stores
3
1.4 per 100k residents
1 store chain
Biggest loan store chains in Little Rock: ACE Cash Express (3).
Borrowing $500 for 6 months in Little Rock
| Option | Payment | Total cost of borrowing |
|---|---|---|
| Installment loan at the Arkansas rate cap (17% APR) | $87.51/mo | $25.08 |
| Credit union PAL (28% APR) | $90.27/mo | $41.62 |
| Payday loan renewed every 2 weeks (typical $15 per $100, not available in Arkansas) | $75.00 every 2 weeks | $975.00 |
- Monthly payment at the Arkansas rate cap vs median monthly household income
- 1.6%
Example calculation with fixed monthly payments; the payday row shows typical out-of-state pricing for comparison. Actual rates and terms vary by lender.
What it means for a household in Little Rock
- Median household income
- $66,098
- A $400 emergency equals
- 2.2 days of income
- Households earning under $25,000
- 19.3%
- Residents below the poverty line
- 16.3%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Little Rock are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Arkansas
| Payday loan in AR | Credit union PAL | |
|---|---|---|
| Legal status | Not allowed — storefront payday loans are banned | Offered by many federal credit unions |
| Rate cap | Capped at 17% APR (State Constitution) | Up to 28% |
| Term | Usually 2–4 weeks, due in one payment | 1 to 12 months, in installments |
| Credit check | Usually none; a bank account and income are required | Membership required; payments can be reported to credit bureaus |
Payday rules: Arkansas law as summarized on our Arkansas payday page. PAL rules: National Credit Union Administration (NCUA) rules for federal credit unions (PAL I and PAL II); state-chartered credit unions may offer similar small loans.
Credit unions headquartered in Little Rock
| Credit union | Address | Members | Website |
|---|---|---|---|
| Arkansas Federal Credit UnionFederal | P.O. Box 24410 Little Rock, AR 72221 | 176,734 | afcu.org |
| Telcoe Federal Credit UnionFederal | PO Box 34200 Little Rock, AR 72203 | 23,838 | telcoe.com |
| Baptist Health Federal Credit UnionFederal | 9000 Kanis Rd Little Rock, AR 72205 | 7,099 | baptist-health.com |
| Truservice Community Federal Credit UnionFederal | P. O. Box 25636 Little Rock, AR 72221 | 5,234 | truservice.net |
| Dillard's Federal Credit UnionFederal | PO Box 3335 Little Rock, AR 72203 | 3,437 | — |
| Electric Cooperatives Federal Credit UnionFederal | P.O. Box 194208 Little Rock, AR 72219 | 2,581 | ecfcu.org |
| Arkansas Education Association Federal Credit UnionFederal | 1500 W 4th St Little Rock, AR 72201 | 1,917 | arkansas.nea.org |
| People Trust Community Federal Credit UnionFederal | PO Box 241488 Little Rock, AR 72223 | 1,830 | — |
| Va Hospital Federal Credit UnionFederal | 4300 W 7th St Little Rock, AR 72205 | 1,529 | vahospitalfcu.org |
| L R F D Federal Credit UnionFederal | 210 S Gaines St Little Rock, AR 72201 | 907 | lrfdfcu.virtualcu.net |
| Cooperative Extension Service Federal Credit UnionFederal | 2301 S University Ave Little Rock, AR 72204 | 722 | uaex.uada.edu |
| Arkansas Teachers Federal Credit UnionFederal | P. O. Box 2518 Little Rock, AR 72203 | 622 | atfcu.org |
| Arkansas Farm Bureau Federal Credit UnionFederal | PO Box 31 Little Rock, AR 72203 | 559 | bhfcu.org |
| Southern Gas Federal Credit UnionFederal | PO Box 2600 Little Rock, AR 72203 | 515 | southerngasfcu.com |
Payday and installment loan stores in Little Rock
For comparison: storefront payday, installment and title lenders in Little Rock with addresses, phone numbers and hours. Check a credit union first — a PAL or small personal loan usually costs far less.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 1100 E Roosevelt Rd Little Rock, AR 72206 | (501) 372-4886 | — | 4.9 |
| 6416 Colonel Glenn Rd Little Rock, AR 72204 | (501) 562-2274 | — | 4.8 |
| 7508 Geyer Springs Rd Little Rock, AR 72209 | (501) 562-4807 | — | 4.9 |
More about Little Rock
Only credit union headquarters are listed, with the address on file with the NCUA; phone numbers and branch locations are on each credit union’s website. Many credit unions also have branches in Little Rock and nearby — check membership requirements, as some are open to anyone who lives or works in the area. Loan stores: storefront locations of major payday, installment and title lenders; call ahead to confirm hours.