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 San Jose, CA
9 credit unions are headquartered in San Jose, with 2,349,147 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
- 9
- Members
- 2.3M
- Federal
- 2
- State-chartered
- 7
Credit unions vs payday loan stores in San Jose
San Jose has 10 payday, installment and title loan stores but only 9 credit unions headquartered here — about 1.1 loan stores for every credit union. Local credit unions count 2,349,147 members — roughly 231 memberships per 100 residents.
Credit unions
9
0.9 per 100k residents
2.3M members
Payday & loan stores
10
1.0 per 100k residents
7 store chains
Biggest loan store chains in San Jose: OneMain Financial (3), Oportun (2), ACE Cash Express (1), Advance America (1), Lendmark Financial Services (1).
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 San Jose
- Median household income
- $143,392
- Payday fee of $45, share of two weeks' income
- 0.8%
- Hours of work to pay the $45 fee
- 1.6 hours
- PAL payment of $104.70, share of monthly income
- 0.9%
- A $400 emergency equals
- 1.0 days of income
- Households earning under $25,000
- 8.5%
- Residents below the poverty line
- 7.9%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for San Jose 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 San Jose
| Credit union | Address | Members | Website |
|---|---|---|---|
| First Technology Federal Credit UnionFederal | 2890 Zanker Rd, Ste 120 San Jose, CA 95134 | 1,868,605 | firsttechfed.com |
| Technology Credit UnionState-chartered | 2010 N 1st St San Jose, CA 95131 | 174,822 | techcu.com |
| Meriwest Credit UnionState-chartered | P O Box 530953 San Jose, CA 95153 | 76,513 | meriwest.com |
| Keypoint Credit UnionState-chartered | 2150 Trade Zone Blvd San Jose, CA 95131 | 55,225 | keypointcu.com |
| Mirastar Federal Credit UnionFederal | 2099 Gateway Place, Suite 140 San Jose, CA 95110 | 50,198 | mirastarfcu.org |
| Excite Credit UnionState-chartered | 265 Curtner Avenue San Jose, CA 95125 | 45,798 | excitecu.org |
| Commonwealth Central Credit UnionState-chartered | 5890 Silver Creek Valley Rd San Jose, CA 95138 | 37,678 | wealthcu.org |
| Premier One Credit UnionState-chartered | 6640 Via Del Oro San Jose, CA 95119 | 27,435 | premieronecu.org |
| F3 Credit UnionState-chartered | 1040 Leigh Ave San Jose, CA 95126 | 12,873 | f3creditunion.com |
Payday and installment loan stores in San Jose
For comparison: storefront payday, installment and title lenders in San Jose 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 |
|---|---|---|---|
| 1008 Blossom Hill Rd Ste G1 San Jose, CA 95123 | (408) 264-8488 | — | 3.8 |
| 189 Curtner Ave #40 San Jose, CA 95125 | (408) 906-8920 | — | 2.9 |
| 5132 Stevens Creek Blvd San Jose, CA 95129 | (408) 249-8220 | — | 3.9 |
| 1636 Story Rd San Jose, CA 95122 | (669) 257-5072 | — | 5.0 |
| 201 Willow St San Jose, CA 95110 | (669) 282-3004 | — | 5.0 |
| 456 E Hedding St San Jose, CA 95112 | (408) 947-2072 | — | 4.9 |
| 5568 Monterey Road San Jose, CA 95138 | (408) 225-0480 | Mon–Fri 10:00 AM – 6:00 PM Sat 9:00 AM – 1:00 PM Sun closed |
— |
| 4750 Almaden Expy #148 San Jose, CA 95118 | (408) 620-3900 | — | 4.9 |
| 3150 Almaden Expy Suite 200 San Jose, CA 95118 | (669) 288-5737 | — | 4.4 |
| 1762 Technology Dr Ste 223 San Jose, CA 95110 | (707) 408-9050 | — | 4.8 |
More about San Jose
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 San Jose 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.