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 Baton Rouge, LA
17 credit unions are headquartered in Baton Rouge, with 477,175 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
- 17
- Members
- 477,175
- Federal
- 14
- State-chartered
- 3
Credit unions vs payday loan stores in Baton Rouge
Baton Rouge has 17 payday, installment and title loan stores but only 17 credit unions headquartered here — about 1.0 loan stores for every credit union. Local credit unions count 477,175 members — roughly 123 memberships per 100 residents.
Credit unions
17
4.4 per 100k residents
477,175 members
Payday & loan stores
17
4.4 per 100k residents
10 store chains
Biggest loan store chains in Baton Rouge: ACE Cash Express (5), Advance America (2), OneMain Financial (2), loanDepot (2), 1st Franklin Financial (1).
What a $350 loan costs over 3 months
| Option | Payment | Total cost |
|---|---|---|
| Payday loan, re-borrowed 6 times (~780% APR) | $68.62 every 2 weeks | $411.72 |
| Credit union PAL, 3 monthly payments (28% APR + $20 fee) | $122.15 a month | $36.46 |
- You keep with a credit union PAL over 3 months
- $375.26 payday costs 11× more
Payday: the LA maximum — $68.62 on a $350 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 Baton Rouge
- Median household income
- $63,143
- Payday fee of $68.62, share of two weeks' income
- 2.8%
- Hours of work to pay the $68.62 fee
- 4.0 hours
- PAL payment of $122.15, share of monthly income
- 2.3%
- A $400 emergency equals
- 2.3 days of income
- Households earning under $25,000
- 22.1%
- Residents below the poverty line
- 20.2%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Baton Rouge are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Louisiana
| Payday loan in LA | Credit union PAL | |
|---|---|---|
| Legal status | Allowed | Offered by many federal credit unions |
| Loan amount | $350 | $200 – $2,000 |
| Fee limit | 16.75% of face value + $10 doc fee ($68.62) | Application fee up to $20 |
| Typical APR | ~780% | 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: Louisiana law as summarized on our Louisiana 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 Baton Rouge
| Credit union | Address | Members | Website |
|---|---|---|---|
| Pelican Credit UnionState-chartered | P.O. Box 40088 Baton Rouge, LA 70835 | 88,080 | pelicanstatecu.com |
| Neighbors Federal Credit UnionFederal | PO Box 2831 Baton Rouge, LA 70821 | 81,290 | neighborsfcu.org |
| Efcu Financial Federal Credit UnionFederal | 3232 S Sherwood Forest Blvd Baton Rouge, LA 70816 | 72,182 | efcufinancial.org |
| La Capitol Federal Credit UnionFederal | P.O. Box 3398 Baton Rouge, LA 70821 | 51,987 | lacapfcu.org |
| Campus Federal Credit UnionFederal | P.O. Box 98036 Baton Rouge, LA 70898 | 44,062 | campusfederal.org |
| Baton Rouge Telco Federal Credit UnionFederal | 13404 Airline Hwy Baton Rouge, LA 70817 | 34,762 | brtelco.org |
| Essential Credit UnionState-chartered | PO Box 66278 Baton Rouge, LA 70896 | 31,118 | essentialcu.org |
| Eagle Louisiana Federal Credit UnionFederal | PO Box 64630 Baton Rouge, LA 70896 | 15,405 | eaglefederal.org |
| Department of Corrections Credit UnionState-chartered | P O Box 4789 Baton Rouge, LA 70821 | 13,554 | doccu.org |
| Formation Federal Credit UnionFederal | P O Box 15745 Baton Rouge, LA 70895 | 9,111 | formationcu.com |
| Bayou Federal Credit UnionFederal | 5880 Florida Blvd Baton Rouge, LA 70806 | 7,644 | bayoufcu.org |
| Baton Rouge Fire Department Federal Credit UnionFederal | PO Box 40118 Baton Rouge, LA 70835 | 6,427 | brfdfcu.com |
| Baton Rouge City Parish Emp Federal Credit UnionFederal | P.O. Box 3521 Baton Rouge, LA 70821 | 5,769 | brcitycu.org |
| Breco Federal Credit UnionFederal | 5711 S. Sherwood Forest Blvd. Baton Rouge, LA 70816 | 5,485 | brecofcu.com |
| Les Federal Credit UnionFederal | PO Box 44201 Baton Rouge, LA 70804 | 4,877 | lesfcu.com |
| Southern Teachers & Parents Federal Credit UnionFederal | 728 Harding Blvd Baton Rouge, LA 70807 | 3,819 | stpfcudotorg |
| East Baton Rouge Teachers Federal Credit UnionFederal | 4836 Plank Rd Baton Rouge, LA 70805 | 1,603 | ebrteachersfcu.org |
Payday and installment loan stores in Baton Rouge
For comparison: storefront payday, installment and title lenders in Baton Rouge 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 |
|---|---|---|---|
| 12330 Florida Blvd #2 Baton Rouge, LA 70815 | (225) 275-6026 | — | 5.0 |
| 2060 O'Neal Ln Baton Rouge, LA 70816 | (225) 751-1014 | — | 5.0 |
| 4065 Florida Blvd Ste 3 Baton Rouge, LA 70806 | (225) 383-1326 | — | 5.0 |
| 4427 Perkins Rd Baton Rouge, LA 70808 | (225) 387-2333 | — | 5.0 |
| 5949 Plank Rd Baton Rouge, LA 70805 | (225) 359-6242 | — | 4.9 |
| 3045 Government Street Baton Rouge, LA 70806 | (225) 389-9447 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat 9:00 AM – 1:00 PM Sun closed |
— |
| 7064 Siegen Lane, Space G Baton Rouge, LA 70809 | (225) 291-4105 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat 9:00 AM – 1:00 PM Sun closed |
— |
| 6555 Siegen Ln STE 14 Baton Rouge, LA 70809 | (225) 928-5633 | — | 4.3 |
| 9634 Airline Hwy Ste F-1D Baton Rouge, LA 70815 | (225) 924-2374 | — | 4.3 |
| 1937 Perkins Rd Baton Rouge, LA 70808 | (225) 251-7050 | — | 5.0 |
| 4528 Bennington Ave Suite 300-D Baton Rouge, LA 70808 | (337) 445-7150 | — | — |
| 11445 Coursey Blvd Ste S Baton Rouge, LA 70816 | (225) 935-0084 | — | 4.9 |
| 5355 Government St Ste E Baton Rouge, LA 70806 | (225) 927-3290 | — | 4.9 |
| 6166 Siegen Ln Ste C Baton Rouge, LA 70809 | (225) 347-5759 | — | 4.5 |
| 10330 Airline Hwy Ste. A4 Baton Rouge, LA 70816 | (225) 201-1092 | — | 4.8 |
| 9230 Florida Blvd Ste a Baton Rouge, LA 70815 | (225) 791-3036 | — | 4.9 |
| 10828 Florida Blvd Baton Rouge, LA 70815 | (225) 275-1542 | — | 4.9 |
More about Baton Rouge
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 Baton Rouge 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.