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 Metairie, LA
9 credit unions are headquartered in Metairie, with 149,111 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
- 9
- Members
- 149,111
- Federal
- 8
- State-chartered
- 1
Credit unions vs payday loan stores in Metairie
Metairie has 10 payday, installment and title loan stores but only 9 credit unions headquartered here — about 1.1 loan stores for every credit union. Local credit unions count 149,111 members — roughly 109 memberships per 100 residents.
Credit unions
9
6.5 per 100k residents
149,111 members
Payday & loan stores
10
7.3 per 100k residents
6 store chains
Biggest loan store chains in Metairie: ACE Cash Express (3), Advance America (2), OneMain Financial (2), Check Into Cash (1), Lendmark Financial Services (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 Metairie
- Median household income
- $74,399
- Payday fee of $68.62, share of two weeks' income
- 2.4%
- Hours of work to pay the $68.62 fee
- 3.4 hours
- PAL payment of $122.15, share of monthly income
- 2.0%
- A $400 emergency equals
- 2.0 days of income
- Households earning under $25,000
- 15.7%
- Residents below the poverty line
- 12.8%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Metairie 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 Metairie
| Credit union | Address | Members | Website |
|---|---|---|---|
| Onpath Federal Credit UnionFederal | 3131 N. I-10 Service Rd. E. Metairie, LA 70002 | 92,011 | beonpath.org |
| The New Orleans Firemen's Federal Credit UnionFederal | P O Box 689 Metairie, LA 70004 | 26,121 | noffcu.org |
| Epic Federal Credit UnionFederal | PO Box 6708 Metairie, LA 70009 | 13,662 | epicfcu.com |
| Xplore Federal Credit UnionFederal | 5500 Veterans Memorial Blvd Ste 100 Metairie, LA 70003 | 7,789 | xplorefcu.com |
| Post Office Employees' Credit UnionState-chartered | 4624 W Napoleon Ave Metairie, LA 70001 | 4,321 | poecu.org |
| Fleur-De-Lis Federal Credit UnionFederal | 433 Metairie Rd, St. 114 Metairie, LA 70005 | 1,499 | fdlfcu.com |
| Electrical Workers Local 130 Federal Credit UnionFederal | 3200 Ridgelake Dr Ste 304 Metairie, LA 70002 | 1,483 | ewl130fcu.com |
| Pan Amoco Federal Credit UnionFederal | 3500 Causeway Blvd, Suite 100 Metairie, LA 70002 | 1,129 | panamocofcu.com |
| New Orleans Clerk & Checkers Federal Credit UnionFederal | 651 Bonnabel Blvd Metairie, LA 70005 | 1,096 | — |
Payday and installment loan stores in Metairie
For comparison: storefront payday, installment and title lenders in Metairie 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 |
|---|---|---|---|
| 3601 N Causeway Blvd Metairie, LA 70002 | (504) 828-4503 | — | 5.0 |
| 5920 Veterans Memorial Blvd #102 Metairie, LA 70003 | (504) 457-0223 | — | 5.0 |
| 6417 Airline Dr Metairie, LA 70003 | (504) 736-0029 | — | 5.0 |
| 3750 Veterans Memorial Blvd. Metairie, LA 70002 | (504) 887-6867 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat 9:00 AM – 1:00 PM Sun closed |
— |
| 8814 Veterans Memorial Blvd., Suite 14 Metairie, LA 70003 | (504) 468-1880 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat 9:00 AM – 1:00 PM Sun closed |
— |
| 3500 N Causeway Blvd Ste 1000 Metairie, LA 70002 | (504) 834-9950 | — | 3.7 |
| 6601 Veterans Memorial Blvd Ste 32 Metairie, LA 70003 | (504) 887-4600 | — | 4.4 |
| 7016 Veterans Memorial Blvd Metairie, LA 70003 | (504) 455-8880 | — | 4.1 |
| 3301 Severn Ave Metairie, LA 70002 | (504) 302-4450 | — | 4.4 |
| 3900 N Causeway Blvd #1275 Metairie, LA 70002 | (504) 446-9100 | — | 3.8 |
More about Metairie
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 Metairie 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.