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 Sacramento, CA
5 credit unions are headquartered in Sacramento, with 1,259,680 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
- 5
- Members
- 1.3M
- Federal
- 0
- State-chartered
- 5
Credit unions vs payday loan stores in Sacramento
Sacramento has 14 payday, installment and title loan stores but only 5 credit unions headquartered here — about 2.8 loan stores for every credit union. Local credit unions count 1,259,680 members — roughly 149 memberships per 100 residents.
Credit unions
5
0.6 per 100k residents
1.3M members
Payday & loan stores
14
1.7 per 100k residents
5 store chains
Biggest loan store chains in Sacramento: ACE Cash Express (6), Advance America (2), Lendmark Financial Services (2), OneMain Financial (2), Oportun (2).
What a $300 loan costs over 3 months
| Option | Payment | Total cost |
|---|---|---|
| Payday loan, re-borrowed 6 times (~460% APR) | $45.00 every 2 weeks | $270.00 |
| Credit union PAL, 3 monthly payments (28% APR + $20 fee) | $104.70 a month | $34.11 |
- You keep with a credit union PAL over 3 months
- $235.89 payday costs 8× more
Payday: the CA maximum — $45 on a $300 loan for 2 weeks, paid again each time the loan is renewed or taken out again (6 times in 3 months). PAL: payday alternative loan from a federal credit union, capped at 28% APR with an application fee of up to $20.
What it means for a household in Sacramento
- Median household income
- $80,674
- Payday fee of $45, share of two weeks' income
- 1.5%
- Hours of work to pay the $45 fee
- 2.3 hours
- PAL payment of $104.70, share of monthly income
- 1.6%
- A $400 emergency equals
- 1.8 days of income
- Households earning under $25,000
- 15.7%
- Residents below the poverty line
- 15.6%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Sacramento are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in California
| Payday loan in CA | Credit union PAL | |
|---|---|---|
| Legal status | Allowed | Offered by many federal credit unions |
| Loan amount | $300 | $200 – $2,000 |
| Fee limit | 15% of check face value ($45) | Application fee up to $20 |
| Typical APR | ~460% | 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: California law as summarized on our California 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 Sacramento
| Credit union | Address | Members | Website |
|---|---|---|---|
| The Golden 1 Credit UnionState-chartered | P.O. Box 15966 Sacramento, CA 95852 | 1,195,395 | golden1.com |
| Sacramento Credit UnionState-chartered | P.O. Box 2351 Sacramento, CA 95812 | 31,124 | sactocu.org |
| First U.S. Community Credit UnionState-chartered | 580 University Ave Sacramento, CA 95825 | 27,555 | firstus.org |
| California Community Credit UnionState-chartered | 8815 Folsom Blvd Sacramento, CA 95826 | 4,112 | caccu.org |
| Vision One Credit UnionState-chartered | 3279 Ramos Cir Sacramento, CA 95827 | 1,494 | visionone.org |
Payday and installment loan stores in Sacramento
For comparison: storefront payday, installment and title lenders in Sacramento 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 |
|---|---|---|---|
| 2202 El Camino Ave Sacramento, CA 95821 | (916) 646-9413 | — | 4.2 |
| 4110 Norwood Ave Ste 400 Sacramento, CA 95838 | (916) 567-1143 | — | 4.9 |
| 4341 Elkhorn Blvd Sacramento, CA 95842 | (916) 348-2990 | — | 4.8 |
| 5227 Elkhorn Blvd Sacramento, CA 95842 | (916) 331-0545 | — | 4.9 |
| 6510 Florin Rd Sacramento, CA 95828 | (916) 964-7773 | — | 4.8 |
| 6640 Valley Hi Dr Ste A2 Sacramento, CA 95823 | (916) 688-1002 | — | 4.7 |
| 1510-C West El Camino Ave. Sacramento, CA 95833 | (916) 569-1508 | Mon–Fri 10:00 AM – 6:00 PM Sat 9:00 AM – 1:00 PM Sun closed |
— |
| 4573 Mack Road Sacramento, CA 95823 | (916) 395-6375 | Mon–Fri 10:00 AM – 6:00 PM Sat 9:00 AM – 1:00 PM Sun closed |
— |
| 3711 Truxel Rd #2 Sacramento, CA 95834 | (916) 244-8188 | — | 4.2 |
| 8250 Calvine Rd Ste B Sacramento, CA 95828 | (916) 689-2657 | — | 4.7 |
| 3336 Bradshaw Rd #160 Sacramento, CA 95827 | (916) 971-8800 | — | 4.1 |
| 3541 N Freeway Blvd Ste 105 Sacramento, CA 95834 | (916) 419-2681 | — | 4.3 |
| 4215 Norwood Ave Ste 01B Sacramento, CA 95838 | (916) 226-9802 | — | 4.5 |
| 4940 Stockton Blvd Sacramento, CA 95820 | (916) 226-9749 | — | 4.9 |
More about Sacramento
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 Sacramento 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.