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 Denver, CO
5 credit unions are headquartered in Denver, with 316,747 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
- 316,747
- Federal
- 3
- State-chartered
- 2
Credit unions vs payday loan stores in Denver
Denver has 23 payday, installment and title loan stores but only 5 credit unions headquartered here — about 4.6 loan stores for every credit union. Local credit unions count 316,747 members — roughly 29 memberships per 100 residents.
Credit unions
5
0.5 per 100k residents
316,747 members
Payday & loan stores
23
2.1 per 100k residents
8 store chains
Biggest loan store chains in Denver: ACE Cash Express (8), Check Into Cash (4), Advance America (3), OneMain Financial (3), Moneytree (2).
Borrowing $500 for 6 months in Denver
| Option | Payment | Total cost of borrowing |
|---|---|---|
| Installment loan at the Colorado rate cap (36% APR) | $92.30/mo | $53.79 |
| Credit union PAL (28% APR) | $90.27/mo | $41.62 |
| Payday loan renewed every 2 weeks (typical $15 per $100, not available in Colorado) | $75.00 every 2 weeks | $975.00 |
- Monthly payment at the Colorado rate cap vs median monthly household income
- 1.2%
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 Denver
- Median household income
- $91,058
- A $400 emergency equals
- 1.6 days of income
- Households earning under $25,000
- 12.4%
- Residents below the poverty line
- 10.9%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Denver are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Colorado
| Payday loan in CO | Credit union PAL | |
|---|---|---|
| Legal status | Not allowed — storefront payday loans are banned | Offered by many federal credit unions |
| Rate cap | Capped at 36% APR | 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: Colorado law as summarized on our Colorado 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 Denver
| Credit union | Address | Members | Website |
|---|---|---|---|
| Credit Union of Colorado, AFederal | PO Box 5906 Denver, CO 80217 | 169,602 | cuofco.org |
| Westerra Credit UnionState-chartered | 3700 E Alameda Ave Denver, CO 80209 | 96,647 | westerracu.com |
| Denver Community Credit Union D.B.A. Zing Credit UnionState-chartered | 1075 Acoma St, Suite 100 Denver, CO 80204 | 30,006 | myzing.com |
| Affidian Federal Credit UnionFederal | 700 W 39th Ave Denver, CO 80216 | 14,217 | affidiancu.org |
| Denver Fire Department Federal Credit UnionFederal | 12 Lakeside Lane Denver, CO 80212 | 6,275 | dfdfcu.com |
Payday and installment loan stores in Denver
For comparison: storefront payday, installment and title lenders in Denver 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 |
|---|---|---|---|
| 1509 W 84th Ave #71 Federal Heights, CO 80260 | (303) 429-6357 | — | 4.7 |
| 1595 W 48th Ave Denver, CO 80221 | (303) 458-3620 | — | 4.8 |
| 1600 Champa St Ste 2 Denver, CO 80202 | (303) 893-4337 | — | 4.3 |
| 2061 S Federal Blvd Denver, CO 80219 | (303) 935-8210 | — | 4.8 |
| 320 North Broadway Ste J Denver, CO 80203 | (303) 733-5966 | — | 4.8 |
| 3375 Colorado Blvd Denver, CO 80205 | (303) 355-9379 | — | 4.8 |
| 8590 W Colfax Ave Lakewood, CO 80215 | (303) 232-3073 | — | 4.7 |
| 8800 Washington St Thornton, CO 80229 | (303) 286-1640 | — | 4.5 |
| 11870 Washington St Northglenn, CO 80233 | (720) 929-8945 | — | 4.4 |
| 1550 S Colorado Blvd #101 Denver, CO 80222 | (303) 759-4031 | — | 3.0 |
| 7111 W Alameda Ave Unit J Lakewood, CO 80226 | (303) 238-5999 | — | 4.2 |
| 8411 N Pecos St Federal Heights, CO 80260 | (303) 487-1448 | — | 4.9 |
| 10351 Grant St #8 Thornton, CO 80229 | (303) 254-5748 | — | 4.7 |
| 1557 W 84th Ave Ste. G Denver, CO 80260 | (303) 650-9890 | — | 4.9 |
| 98 Wadsworth Blvd #121 Denver, CO 80226 | (303) 237-2997 | — | 4.6 |
| 12015 E 46th Ave Denver, CO 80239 | (303) 373-0952 | — | 3.1 |
| 1569 Colorado Boulevard Denver, CO 80222 | (303) 282-6611 | — | 3.2 |
| 400 E 84th Ave Ste W210 Thornton, CO 80229 | (303) 235-0673 | — | 3.8 |
| 580 E 120th Ave Northglenn, CO 80233 | (720) 929-8900 | — | 4.6 |
| 6901 W Alameda Ave Lakewood, CO 80226 | (303) 232-6669 | — | 4.4 |
| 1898 S Wadsworth Blvd Lakewood, CO 80232 | (303) 988-3073 | — | 4.7 |
| 550 Thornton Pkwy #182b Thornton, CO 80229 | (303) 252-1314 | — | 3.9 |
| 6501 E Evans Ave Denver, CO 80224 | (303) 685-2274 | — | 4.0 |
More about Denver
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 Denver 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.