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 Augusta, GA
1 credit union is headquartered in Augusta, with 623 members. 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
- 1
- Members
- 623
- Federal
- 1
- State-chartered
- 0
Credit unions vs payday loan stores in Augusta
Augusta has 14 payday, installment and title loan stores but only 1 credit unions headquartered here — about 14.0 loan stores for every credit union. Local credit unions count 623 members — roughly 0 memberships per 100 residents.
Credit unions
1
0.5 per 100k residents
623 members
Payday & loan stores
14
7.0 per 100k residents
7 store chains
Biggest loan store chains in Augusta: TitleMax (6), Security Finance (3), 1st Franklin Financial (1), Check Into Cash (1), Lendmark Financial Services (1).
Borrowing $500 for 6 months in Augusta
| Option | Payment | Total cost of borrowing |
|---|---|---|
| Installment loan at the Georgia rate cap (16% APR) | $87.27/mo | $23.59 |
| Credit union PAL (28% APR) | $90.27/mo | $41.62 |
| Payday loan renewed every 2 weeks (typical $15 per $100, not available in Georgia) | $75.00 every 2 weeks | $975.00 |
- Monthly payment at the Georgia rate cap vs median monthly household income
- 1.8%
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 Augusta
- Median household income
- $58,514
- A $400 emergency equals
- 2.5 days of income
- Households earning under $25,000
- 23.2%
- Residents below the poverty line
- 19.4%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Augusta are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Georgia
| Payday loan in GA | Credit union PAL | |
|---|---|---|
| Legal status | Not allowed — storefront payday loans are banned | Offered by many federal credit unions |
| Rate cap | Capped at 16% APR (Payday Lending Ban) | 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: Georgia law as summarized on our Georgia 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 Augusta
| Credit union | Address | Members | Website |
|---|---|---|---|
| United Neighborhood Federal Credit UnionFederal | 1434 Poplar St Augusta, GA 30901 | 623 | unitedneighborhoodfcu.org |
Payday and installment loan stores in Augusta
For comparison: storefront payday, installment and title lenders in Augusta 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 |
|---|---|---|---|
| 2625 Deans Bridge Rd # A Augusta, GA 30906 | (706) 796-9094 | — | 5.0 |
| 3096 Deans Bridge Rd Augusta, GA 30906 | (706) 560-9825 | — | 5.0 |
| 3240 Peach Orchard Rd #10 Augusta, GA 30906 | (706) 312-6300 | — | 4.9 |
| 3348 Wrightsboro Rd Augusta, GA 30909 | (706) 396-1595 | — | 5.0 |
| 3865 Washington Rd Martinez, GA 30907 | (706) 860-5848 | — | 4.9 |
| 617 15th St Augusta, GA 30901 | (706) 262-5100 | — | 5.0 |
| 1631 Gordon Hwy Ste 4 Augusta, GA 30906 | (706) 771-7769 | — | 5.0 |
| Sunbelt Credit 221 James Brown Blvd Augusta, GA 30901 | (706) 722-0135 | — | 1.0 |
| 3830 Washington Rd #8 Martinez, GA 30907 | (706) 210-9510 | — | 5.0 |
| 266 Bobby Jones Expy Ste 19 Augusta, GA 30907 | (706) 667-5418 | — | 4.7 |
| 266 Bobby Jones Expy Augusta, GA 30907 | (706) 210-1233 | — | 4.9 |
| 270 Bobby Jones Expy #122 Augusta, GA 30907 | (706) 651-9835 | — | 3.9 |
| 2907 Washington Rd #708 Augusta, GA 30909 | (706) 722-6496 | — | 4.7 |
| 3435 Wrightsboro Rd Ste 1116A Augusta, GA 30909 | (706) 738-8875 | — | 4.0 |
More about Augusta
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 Augusta 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.