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 Joplin, MO
3 credit unions are headquartered in Joplin, with 37,312 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
- 3
- Members
- 37,312
- Federal
- 1
- State-chartered
- 2
Credit unions vs payday loan stores in Joplin
Joplin has 10 payday, installment and title loan stores but only 3 credit unions headquartered here — about 3.3 loan stores for every credit union. Local credit unions count 37,312 members — roughly 51 memberships per 100 residents.
Credit unions
3
4.1 per 100k residents
37,312 members
Payday & loan stores
10
13.6 per 100k residents
9 store chains
Biggest loan store chains in Joplin: TitleMax (2), Advance America (1), Check 'n Go (1), Lendmark Financial Services (1), Mariner Finance (1).
What a $500 loan costs over 3 months
| Option | Payment | Total cost |
|---|---|---|
| Payday loan, re-borrowed 6 times (~462% APR) | $75.00 every 2 weeks | $450.00 |
| Credit union PAL, 3 monthly payments (28% APR + $20 fee) | $174.50 a month | $43.51 |
- You keep with a credit union PAL over 3 months
- $406.49 payday costs 10× more
Payday: a typical fee of $75 on a $500 loan for 2 weeks (MO limits are not set in dollars), paid 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 Joplin
- Median household income
- $56,764
- Payday fee of $75, share of two weeks' income
- 3.4%
- Hours of work to pay the $75 fee
- 5.2 hours
- PAL payment of $174.50, share of monthly income
- 3.7%
- A $400 emergency equals
- 2.6 days of income
- Households earning under $25,000
- 20.6%
- Residents below the poverty line
- 15.8%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Joplin are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Missouri
| Payday loan in MO | Credit union PAL | |
|---|---|---|
| Legal status | Allowed | Offered by many federal credit unions |
| Loan amount | $500 | $200 – $2,000 |
| Fee limit | 75% of initial loan amount (N/A) | Application fee up to $20 |
| Typical APR | ~462% | 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: Missouri law as summarized on our Missouri 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 Joplin
| Credit union | Address | Members | Website |
|---|---|---|---|
| Great Plains Federal Credit UnionFederal | P O Box 2968 Joplin, MO 64803 | 28,251 | greatplainsfcu.com |
| Joplin Metro Credit UnionState-chartered | 3301 Texas Ave Joplin, MO 64804 | 5,858 | joplinmcu.com |
| Legacy Credit UnionState-chartered | 3202 Indiana Ave Joplin, MO 64804 | 3,203 | yourlcu.com |
Payday and installment loan stores in Joplin
For comparison: storefront payday, installment and title lenders in Joplin 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 |
|---|---|---|---|
| 1202 S Rangeline Rd #3 Joplin, MO 64801 | (417) 624-5561 | — | 4.9 |
| 1721 W 7th St Suite A Joplin, MO 64801 | (417) 385-4051 | — | 4.9 |
| 1901 E. 32nd Street, Suite 9 Joplin, MO 64804 | (417) 782-6555 | Mon–Fri 10:00 AM – 6:00 PM Sat 10:00 AM – 1:00 PM Sun closed |
— |
| 925 S Rangeline Rd Joplin, MO 64801 | (417) 673-1484 | — | 4.8 |
| 2639 E 32nd St Ste r Joplin, MO 64804 | (417) 691-8266 | — | 4.7 |
| 1531 E 32nd St #1 Joplin, MO 64804 | (417) 781-2314 | — | 4.9 |
| 420 N Rangeline Rd #15 Joplin, MO 64801 | (417) 624-2224 | — | 4.2 |
| 1901 E 32nd St #6 Joplin, MO 64804 | (417) 624-6933 | — | 4.8 |
| 2313 W 7th St A Joplin, MO 64801 | (417) 782-5600 | — | 4.9 |
| Shamrock Finance 2914 E 32nd St Ste 112A Joplin, MO 64804 | (417) 627-0949 | — | 4.5 |
More about Joplin
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 Joplin 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.