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 Delaware
15 credit unions are headquartered in Delaware, with 254,107 members in total. 15 are federal credit unions and 0 are state-chartered; all are federally insured by the NCUA.
- Credit unions
- 15
- Members
- 254,107
- Federal
- 15
- State-chartered
- 0
- Members per 100 people
- 25
- CUs per 100k people
- 1.5
Credit unions vs payday loan stores in Delaware
Delaware has 30 payday, installment and title loan stores but only 15 credit unions headquartered here — about 2.0 loan stores for every credit union. Local credit unions count 254,107 members — roughly 25 memberships per 100 residents.
Credit unions
15
1.5 per 100k residents
254,107 members
Payday & loan stores
30
3.0 per 100k residents
6 store chains
Biggest loan store chains in Delaware: Check 'n Go (8), Advance America (7), OneMain Financial (6), Mariner Finance (5), TitleMax (3).
What a $500 loan costs over 3 months
| Option | Payment | Total cost |
|---|---|---|
| Payday loan, re-borrowed 6 times (~521%+ APR) | $75.00 every 2 weeks | $450.00 |
| Credit union PAL, 3 monthly payments (28% APR + $20 fee) | $174.50 a month | $43.51 |
- You keep with a credit union PAL over 3 months
- $406.49 payday costs 10× more
Payday: a typical fee of $75 on a $500 loan for 2 weeks (DE limits are not set in dollars), paid 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 Delaware
- Median household income
- $86,313
- Payday fee of $75, share of two weeks' income
- 2.3%
- Hours of work to pay the $75 fee
- 3.6 hours
- PAL payment of $174.50, share of monthly income
- 2.4%
- A $400 emergency equals
- 1.7 days of income
- Households earning under $25,000
- 12.3%
- Residents below the poverty line
- 10.7%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Delaware are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Delaware
| Payday loan in DE | Credit union PAL | |
|---|---|---|
| Legal status | Allowed | Offered by many federal credit unions |
| Loan amount | $1,000 | $200 – $2,000 |
| Fee limit | No state limit (N/A) | Application fee up to $20 |
| Typical APR | ~521%+ | 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: Delaware law as summarized on our Delaware 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 by city in Delaware
Credit unions are headquartered in 8 cities and towns across Delaware. Pick a city for addresses and websites, or scroll down for the smaller towns.
All credit unions in Delaware
| Credit union | Headquarters | Members | Website |
|---|---|---|---|
| Del-One Federal Credit UnionFederal | Dover | 92,957 | del-one.org |
| Dover Federal Credit UnionFederal | Dover | 42,909 | doverfcu.com |
| Dexsta Federal Credit UnionFederal | Wilmington | 34,253 | dexsta.com |
| Tidemark Federal Credit UnionFederal | Seaford | 22,105 | tidemarkfcu.org |
| American Spirit Federal Credit UnionFederal | Newark | 12,122 | americanspirit.org |
| Community Powered Federal Credit UnionFederal | Bear | 11,392 | cpwrfcu.org |
| Eagle One Federal Credit UnionFederal | Claymont | 9,575 | eagleonefcu.org |
| Edu Federal Credit UnionFederal | New Castle | 8,036 | edufcu.com |
| Delaware State Police Federal Credit UnionFederal | Georgetown | 7,805 | dspfcu.com |
| Wilmington Police & Fire Federal Credit UnionFederal | Wilmington | 3,949 | wpffcu.org |
| Stepping Stones Community Federal Credit UnionFederal | Wilmington | 2,722 | sscreditunion.org |
| New Castle County Delaware Em Federal Credit UnionFederal | New Castle | 2,359 | nccdefcu.com |
| Priority Plus Federal Credit UnionFederal | Wilmington | 1,922 | priorityplusfcu.org |
| Provident Federal Credit UnionFederal | Dover | 1,621 | providentfcu.com |
| Delaware River & Bay Auth Emp Federal Credit UnionFederal | New Castle | 380 | — |
Credit unions in smaller towns of Delaware
Other cities and towns in Delaware where credit unions are headquartered, and how many there are in each.
- Bear 1
- Claymont 1
- Georgetown 1
- Seaford 1
Credit unions are listed in the city of their headquarters; many have branches in other cities and accept members from across the state or the country, so members per 100 people is an approximation.