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 Shreveport, LA
10 credit unions are headquartered in Shreveport, with 40,743 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
- 10
- Members
- 40,743
- Federal
- 9
- State-chartered
- 1
Credit unions vs payday loan stores in Shreveport
Shreveport has 12 payday, installment and title loan stores but only 10 credit unions headquartered here — about 1.2 loan stores for every credit union. Local credit unions count 40,743 members — roughly 19 memberships per 100 residents.
Credit unions
10
4.8 per 100k residents
40,743 members
Payday & loan stores
12
5.7 per 100k residents
8 store chains
Biggest loan store chains in Shreveport: ACE Cash Express (4), OneMain Financial (2), 1st Franklin Financial (1), Advance America (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 Shreveport
- Median household income
- $54,071
- Payday fee of $68.62, share of two weeks' income
- 3.3%
- Hours of work to pay the $68.62 fee
- 4.7 hours
- PAL payment of $122.15, share of monthly income
- 2.7%
- A $400 emergency equals
- 2.7 days of income
- Households earning under $25,000
- 27.8%
- Residents below the poverty line
- 22.4%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Shreveport 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 Shreveport
| Credit union | Address | Members | Website |
|---|---|---|---|
| Aneca Federal Credit UnionFederal | 4361 Youree Dr Shreveport, LA 71105 | 10,887 | aneca.org |
| Willis Knighton Federal Credit UnionFederal | PO Box 17585 Shreveport, LA 71118 | 8,155 | wkfcu.org |
| Wesla Federal Credit UnionFederal | P. O. Box 17770 Shreveport, LA 71138 | 6,459 | wesla.org |
| Post Office Employees Federal Credit UnionFederal | P. O. Box 3871 Shreveport, LA 71133 | 5,031 | poefcu.org |
| Caddo Parish Teachers Federal Credit UnionFederal | PO Box 3133 Shreveport, LA 71133 | 3,434 | cptfcu.org |
| Professional Fire Fighters Credit UnionState-chartered | 9410 Healthplex Drive Shreveport, LA 71106 | 2,726 | pffcu.org |
| Louisiana Catholic Federal Credit UnionFederal | 814 Jordan St Shreveport, LA 71101 | 2,303 | louisianacatholicfcu.org |
| Shreveport Police Federal Credit UnionFederal | 2750 Mackey Lane Shreveport, LA 71118 | 988 | — |
| State Agencies Federal Credit UnionFederal | 1525 Fairfield Ave, Ste 672 Shreveport, LA 71101 | 666 | stateagenciesfcu.com |
| Avenue Baptist Brotherhood Federal Credit UnionFederal | 901 W 70th St Shreveport, LA 71106 | 94 | — |
Payday and installment loan stores in Shreveport
For comparison: storefront payday, installment and title lenders in Shreveport 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 |
|---|---|---|---|
| 2709 W 70th St Shreveport, LA 71108 | (318) 688-2695 | — | 5.0 |
| 3004 Highland Ave Shreveport, LA 71104 | (318) 934-0564 | — | 5.0 |
| 3802 Jewella Ave Shreveport, LA 71109 | (318) 635-0606 | — | 4.9 |
| 8988 Mansfield Rd Shreveport, LA 71118 | (318) 683-0063 | — | 5.0 |
| 2533 W Bert Kouns Industrial Loop #125 Shreveport, LA 71118 | (318) 687-1411 | — | 4.1 |
| 7230 Youree Dr Ste 111 Shreveport, LA 71105 | (318) 861-3141 | — | 5.0 |
| 3950 Youree Dr Ste 140 Shreveport, LA 71105 | (318) 686-1194 | — | 4.9 |
| 6730 Pines Rd., Ste. 202 Shreveport, LA 71129 | (318) 671-8686 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat 9:00 AM – 1:00 PM Sun closed |
— |
| 7141 Youree Dr Ste 400 Shreveport, LA 71105 | (318) 317-7060 | — | 5.0 |
| 1297 Shreveport Barksdale Hwy A Shreveport, LA 71105 | (318) 687-4333 | — | 4.8 |
| 2800 W 70th St Ste D Shreveport, LA 71108 | (318) 635-9097 | — | 5.0 |
| 9360 Mansfield Rd Shreveport, LA 71118 | (318) 686-4984 | — | 4.9 |
More about Shreveport
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 Shreveport 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.