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 Bowie, MD
1 credit union is headquartered in Bowie, with 19,713 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
- 19,713
- Federal
- 1
- State-chartered
- 0
Credit unions vs payday loan stores in Bowie
Bowie has 2 payday, installment and title loan stores but only 1 credit unions headquartered here — about 2.0 loan stores for every credit union. Local credit unions count 19,713 members — roughly 19 memberships per 100 residents.
Credit unions
1
0.9 per 100k residents
19,713 members
Payday & loan stores
2
1.9 per 100k residents
2 store chains
Biggest loan store chains in Bowie: Mariner Finance (1), OneMain Financial (1).
Borrowing $500 for 6 months in Bowie
| Option | Payment | Total cost of borrowing |
|---|---|---|
| Installment loan at the Maryland rate cap (33% APR) | $91.54/mo | $49.21 |
| Credit union PAL (28% APR) | $90.27/mo | $41.62 |
| Payday loan renewed every 2 weeks (typical $15 per $100, not available in Maryland) | $75.00 every 2 weeks | $975.00 |
- Monthly payment at the Maryland rate cap vs median monthly household income
- 0.7%
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 Bowie
- Median household income
- $149,904
- A $400 emergency equals
- 1.0 days of income
- Households earning under $25,000
- 4.4%
- Residents below the poverty line
- 3.8%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Bowie are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Maryland
| Payday loan in MD | Credit union PAL | |
|---|---|---|
| Legal status | Not allowed — storefront payday loans are banned | Offered by many federal credit unions |
| Rate cap | Capped at 33% APR | 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: Maryland law as summarized on our Maryland 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 Bowie
| Credit union | Address | Members | Website |
|---|---|---|---|
| Prince George's Community Federal Credit UnionFederal | 15201 Hall Rd Bowie, MD 20721 | 19,713 | princegeorgescfcu.org |
Payday and installment loan stores in Bowie
For comparison: storefront payday, installment and title lenders in Bowie 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 |
|---|---|---|---|
| 15530 Annapolis Rd #102 Bowie, MD 20715 | (301) 805-4633 | — | 4.8 |
| 4201 Northview Dr #407 Bowie, MD 20716 | (301) 805-7224 | — | 4.6 |
More about Bowie
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 Bowie 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.