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 Decatur, GA
1 credit union is headquartered in Decatur, with 26,800 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
- 26,800
- Federal
- 0
- State-chartered
- 1
Credit unions vs payday loan stores in Decatur
Decatur has 9 payday, installment and title loan stores but only 1 credit unions headquartered here — about 9.0 loan stores for every credit union. Local credit unions count 26,800 members — roughly 16 memberships per 100 residents.
Credit unions
1
0.6 per 100k residents
26,800 members
Payday & loan stores
9
5.3 per 100k residents
3 store chains
Biggest loan store chains in Decatur: TitleMax (6), ACE Cash Express (2), OneMain Financial (1).
Borrowing $500 for 6 months in Decatur
| 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
- 1.3%
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 Decatur
- Median household income
- $82,607
- A $400 emergency equals
- 1.8 days of income
- Households earning under $25,000
- 16.1%
- Residents below the poverty line
- 13.5%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Decatur 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 Decatur
| Credit union | Address | Members | Website |
|---|---|---|---|
| Membersfirst Credit UnionState-chartered | 2476 Lawrenceville Hwy Decatur, GA 30033 | 26,800 | membersfirstga.com |
Payday and installment loan stores in Decatur
For comparison: storefront payday, installment and title lenders in Decatur 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 |
|---|---|---|---|
| 2375 Wesley Chapel Rd Ste 1 Decatur, GA 30035 | (770) 808-9912 | — | 5.0 |
| 2572 Lawrenceville Hwy Ste B Decatur, GA 30033 | (770) 938-3972 | — | 5.0 |
| 3454 Memorial Dr Decatur, GA 30032 | (404) 286-2338 | — | 5.0 |
| 3665 Flat Shoals Rd Ste B Decatur, GA 30034 | (404) 243-7345 | — | 5.0 |
| 4689 B Memorial Dr Decatur, GA 30032 | (404) 499-1797 | — | 5.0 |
| 4773 Covington Hwy Decatur, GA 30035 | (404) 289-1860 | — | 5.0 |
| 3570 Memorial Dr Ste 104 Decatur, GA 30032 | (404) 284-9411 | — | 4.8 |
| 4065 Memorial Dr Ste F Decatur, GA 30032 | (404) 294-9552 | — | 4.9 |
| 3910 N Druid Hills Rd Decatur, GA 30033 | (404) 633-3110 | — | 4.1 |
More about Decatur
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 Decatur 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.