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 Orlando, FL
5 credit unions are headquartered in Orlando, with 366,006 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
- 366,006
- Federal
- 2
- State-chartered
- 3
Credit unions vs payday loan stores in Orlando
Orlando has 24 payday, installment and title loan stores but only 5 credit unions headquartered here — about 4.8 loan stores for every credit union. Local credit unions count 366,006 members — roughly 34 memberships per 100 residents.
Credit unions
5
0.5 per 100k residents
366,006 members
Payday & loan stores
24
2.2 per 100k residents
7 store chains
Biggest loan store chains in Orlando: ACE Cash Express (9), Advance America (5), OneMain Financial (5), Oportun (2), Lendmark Financial Services (1).
What a $500 loan costs over 3 months
| Option | Payment | Total cost |
|---|---|---|
| Payday loan, re-borrowed 6 times (~304% APR) | $55.00 every 2 weeks | $330.00 |
| 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
- $286.49 payday costs 8× more
Payday: the FL maximum — $55 on a $500 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 Orlando
- Median household income
- $75,099
- Payday fee of $55, share of two weeks' income
- 1.9%
- Hours of work to pay the $55 fee
- 3.1 hours
- PAL payment of $174.50, share of monthly income
- 2.8%
- A $400 emergency equals
- 1.9 days of income
- Households earning under $25,000
- 14.7%
- Residents below the poverty line
- 14.1%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Orlando are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Florida
| Payday loan in FL | Credit union PAL | |
|---|---|---|
| Legal status | Allowed | Offered by many federal credit unions |
| Loan amount | $500 | $200 – $2,000 |
| Fee limit | 10% of check + $5 fee ($55) | Application fee up to $20 |
| Typical APR | ~304% | 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: Florida law as summarized on our Florida 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 Orlando
| Credit union | Address | Members | Website |
|---|---|---|---|
| Fairwinds Credit UnionState-chartered | 135 W Central Blvd, Suite 1220 Orlando, FL 32801 | 252,617 | fairwinds.org |
| Mccoy Federal Credit UnionFederal | PO Box 593806 Orlando, FL 32859 | 81,089 | mccoyfcu.org |
| Orlando Credit UnionState-chartered | 945 S Orange Ave Orlando, FL 32806 | 27,433 | orlandocreditunion.org |
| Priority Credit UnionState-chartered | 301 East Michigan Street Orlando, FL 32806 | 4,456 | prioritycu.org |
| Local 606 Electrical Workers Federal Credit UnionFederal | 820 Virginia Dr Orlando, FL 32803 | 411 | local606fcu.org |
Payday and installment loan stores in Orlando
For comparison: storefront payday, installment and title lenders in Orlando 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 |
|---|---|---|---|
| 11241 E Colonial Dr Ste 205 Orlando, FL 32817 | (407) 737-6043 | — | 4.9 |
| 1523 S Crystal Lake Dr Orlando, FL 32806 | (407) 893-6484 | — | 5.0 |
| 4490 S Semoran Blvd Orlando, FL 32822 | (407) 737-0866 | — | 4.8 |
| 4560 S Kirkman Rd Orlando, FL 32811 | (407) 523-9494 | — | 4.9 |
| 4712 S Orange Blossom Trl Orlando, FL 32839 | (407) 857-0222 | — | 4.9 |
| 5030 W Colonial Dr Orlando, FL 32808 | (407) 578-5926 | — | 4.9 |
| 5171 S John Young Pkwy Orlando, FL 32839 | (407) 851-1500 | — | 4.9 |
| 6325 N Orange Blossom Trl Ste 111 Orlando, FL 32810 | (407) 292-7294 | — | 4.8 |
| 6950 Silver Star Rd Orlando, FL 32818 | (407) 822-4240 | — | 4.9 |
| 12981 S. Orange Blossom Trail, Sedano's Supermarket Orlando, FL 32837 | (407) 255-2720 | Mon–Thu 10:00 AM – 6:00 PM Fri–Sat 10:00 AM – 7:00 PM Sun closed |
— |
| 13851 S. John Young Pkwy, Unit 104 Orlando, FL 32837 | (407) 859-0277 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat 9:00 AM – 4:00 PM Sun closed |
— |
| 4473 South Semoran Blvd. Orlando, FL 32822 | (407) 207-2630 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat 9:00 AM – 4:00 PM Sun closed |
— |
| 5600 W. Colonial Drive, #315 Orlando, FL 32808 | (407) 291-6467 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat 9:00 AM – 4:00 PM Sun closed |
— |
| 7661 South Orange Blossom Trail Orlando, FL 32809 | (407) 251-4240 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat 9:00 AM – 4:00 PM Sun closed |
— |
| 12321 E Colonial Dr Ste 160 Orlando, FL 32826 | (407) 587-0045 | — | 3.7 |
| 2069 Town Center Blvd Orlando, FL 32837 | (407) 857-9535 | — | 4.3 |
| 4972 E Colonial Dr Orlando, FL 32803 | (407) 894-5771 | — | 3.4 |
| 7083 Grand National Dr Ste 103 Orlando, FL 32819 | (407) 490-0179 | — | 2.3 |
| 7315 W Colonial Dr Orlando, FL 32818 | (407) 299-0950 | — | 4.2 |
| 4020 S Semoran Blvd Orlando, FL 32822 | (321) 684-4915 | — | 4.9 |
| 7611 S Orange Blossom Trl Orlando, FL 32809 | (407) 901-5019 | — | 4.9 |
| 4099 W Town Center Blvd Orlando, FL 32837 | (407) 352-9098 | — | 4.3 |
| 218 S Semoran Blvd Orlando, FL 32807 | (407) 482-1066 | — | 4.6 |
| 121 S Orlando Ave Ste 1500 Off# 1501 Orlando, FL 32801 | (321) 347-3550 | — | 4.8 |
More about Orlando
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 Orlando 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.