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 Santa Rosa, CA
3 credit unions are headquartered in Santa Rosa, with 477,157 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
- 3
- Members
- 477,157
- Federal
- 1
- State-chartered
- 2
Credit unions vs payday loan stores in Santa Rosa
Santa Rosa has 3 payday, installment and title loan stores but only 3 credit unions headquartered here — about 1.0 loan stores for every credit union. Local credit unions count 477,157 members — roughly 227 memberships per 100 residents.
Credit unions
3
1.4 per 100k residents
477,157 members
Payday & loan stores
3
1.4 per 100k residents
3 store chains
Biggest loan store chains in Santa Rosa: OneMain Financial (1), Oportun (1), loanDepot (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 Santa Rosa
- Median household income
- $97,377
- Payday fee of $45, share of two weeks' income
- 1.2%
- Hours of work to pay the $45 fee
- 1.9 hours
- PAL payment of $104.70, share of monthly income
- 1.3%
- A $400 emergency equals
- 1.5 days of income
- Households earning under $25,000
- 10.6%
- Residents below the poverty line
- 9.6%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Santa Rosa 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 Santa Rosa
| Credit union | Address | Members | Website |
|---|---|---|---|
| Redwood Credit UnionState-chartered | PO Box 6104 Santa Rosa, CA 95406 | 417,354 | redwoodcu.org |
| Community First Credit UnionState-chartered | PO Box 6004 Santa Rosa, CA 95406 | 58,012 | comfirstcu.org |
| Sonoma Federal Credit UnionFederal | 917 College Ave Santa Rosa, CA 95404 | 1,791 | sonomafed.com |
Payday and installment loan stores in Santa Rosa
For comparison: storefront payday, installment and title lenders in Santa Rosa 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 |
|---|---|---|---|
| 711 Stony Point Rd #11 Santa Rosa, CA 95407 | (707) 546-5162 | — | 4.0 |
| 711 Stony Point Rd Santa Rosa, CA 95407 | (707) 200-6940 | — | 5.0 |
| 3700 Old Redwood Hwy #230 Santa Rosa, CA 95403 | (707) 408-9050 | — | 5.0 |
More about Santa Rosa
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 Santa Rosa 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.