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 Savannah, GA
6 credit unions are headquartered in Savannah, with 25,581 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
- 6
- Members
- 25,581
- Federal
- 4
- State-chartered
- 2
Credit unions vs payday loan stores in Savannah
Savannah has 13 payday, installment and title loan stores but only 6 credit unions headquartered here — about 2.2 loan stores for every credit union. Local credit unions count 25,581 members — roughly 11 memberships per 100 residents.
Credit unions
6
2.5 per 100k residents
25,581 members
Payday & loan stores
13
5.4 per 100k residents
7 store chains
Biggest loan store chains in Savannah: TitleMax (5), Lendmark Financial Services (2), OneMain Financial (2), 1st Franklin Financial (1), ACE Cash Express (1).
Borrowing $500 for 6 months in Savannah
| 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
- 1.6%
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 Savannah
- Median household income
- $65,513
- A $400 emergency equals
- 2.2 days of income
- Households earning under $25,000
- 18.2%
- Residents below the poverty line
- 16.2%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Savannah 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 Savannah
| Credit union | Address | Members | Website |
|---|---|---|---|
| Georgia Heritage Federal Credit UnionFederal | P O Box 1920 Savannah, GA 31402 | 15,224 | georgiaheritagefcu.org |
| Savannah Schools Federal Credit UnionFederal | 4673 E. Highway 80 Savannah, GA 31410 | 4,097 | ssfcuonline.org |
| Mercy Federal Credit UnionFederal | 11705 Mercy Blvd Savannah, GA 31419 | 2,258 | mercyfcu.org |
| Savannah Postal Credit UnionState-chartered | PO Box 13807 Savannah, GA 31416 | 2,047 | spcu22.com |
| Workmen's Circle Incorporated Credit UnionState-chartered | 527 Stephenson Ave, Ste 1 Savannah, GA 31405 | 1,682 | workmenscirclecu.com |
| F A B Church Federal Credit UnionFederal | P. O. Box 1512 Savannah, GA 31402 | 273 | fabfcu.com |
Payday and installment loan stores in Savannah
For comparison: storefront payday, installment and title lenders in Savannah 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 |
|---|---|---|---|
| 10403 Abercorn St Savannah, GA 31419 | (912) 927-9888 | — | 5.0 |
| 2800 Skidaway Rd Savannah, GA 31404 | (912) 303-9785 | — | 4.9 |
| 4215 Augusta Rd Garden City, GA 31408 | (912) 525-2446 | — | 4.9 |
| 5507 Abercorn St Savannah, GA 31405 | (912) 352-1870 | — | 4.9 |
| 6006 Ogeechee Rd Savannah, GA 31419 | (912) 721-8030 | — | 5.0 |
| 5730 Ogeechee Rd Suite 460 Savannah, GA 31405 | (912) 744-9030 | — | 4.5 |
| 7805 Abercorn St Ste B-22 Savannah, GA 31406 | (912) 691-1776 | — | 3.3 |
| 11609 Abercorn St Ste G Savannah, GA 31419 | (912) 961-6551 | — | 4.5 |
| 7805 Abercorn St #10 Savannah, GA 31406 | (912) 355-2524 | — | 4.0 |
| 1100 Eisenhower Dr Ste 27 Savannah, GA 31406 | (912) 352-7640 | — | 4.9 |
| 4328 Augusta Rd Garden City, GA 31408 | (912) 964-2274 | — | 4.8 |
| 3 E Montgomery Cross Rd Savannah, GA 31406 | (912) 233-6420 | — | 4.8 |
| 100 Bull St Suite 200 Savannah, GA 31401 | (912) 348-7200 | — | 4.6 |
More about Savannah
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 Savannah 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.