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 Kansas City, MO
9 credit unions are headquartered in Kansas City, with 39,528 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
- 39,528
- Federal
- 2
- State-chartered
- 7
Credit unions vs payday loan stores in Kansas City
Kansas City has 21 payday, installment and title loan stores but only 9 credit unions headquartered here — about 2.3 loan stores for every credit union. Local credit unions count 39,528 members — roughly 7 memberships per 100 residents.
Credit unions
9
1.5 per 100k residents
39,528 members
Payday & loan stores
21
3.5 per 100k residents
8 store chains
Biggest loan store chains in Kansas City: TitleMax (6), Check 'n Go (3), OneMain Financial (3), Security Finance (3), Advance America (2).
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 Kansas City
- Median household income
- $74,544
- Payday fee of $75, share of two weeks' income
- 2.6%
- Hours of work to pay the $75 fee
- 3.7 hours
- PAL payment of $174.50, share of monthly income
- 2.8%
- A $400 emergency equals
- 2.0 days of income
- Households earning under $25,000
- 16.4%
- Residents below the poverty line
- 13.9%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Kansas City 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 Kansas City
| Credit union | Address | Members | Website |
|---|---|---|---|
| Public Safety Credit UnionState-chartered | PO Box 270020 Kansas City, MO 64127 | 13,461 | publicsafetycu.org |
| Holy Rosary Credit UnionState-chartered | 533 Campbell St Kansas City, MO 64106 | 6,979 | holyrosarycu.org |
| Csd Credit UnionState-chartered | 8510 E. Bannister Rd Kansas City, MO 64134 | 5,827 | csdcu.org |
| Kansas City Credit UnionState-chartered | 5110 Ararat Dr Kansas City, MO 64129 | 5,051 | kccu.net |
| Catholic Family Credit UnionState-chartered | 9237 Ward Pkwy Ste 114 Kansas City, MO 64114 | 3,480 | catholicfamilycu.com |
| K.C. Area Credit UnionState-chartered | PO Box 15566 Kansas City, MO 64106 | 1,937 | kcareacu.com |
| Kc Unidos Federal Credit UnionFederal | 2130 Jefferson St Ste A Kansas City, MO 64108 | 1,578 | kcunidosfcu.com |
| Wedevelopment Federal Credit UnionFederal | 3123 Prospect Ave Kansas City, MO 64128 | 933 | wedevelopmentfcu.com |
| Bluescope Employees' Credit UnionState-chartered | PO Box 419917 Kansas City, MO 64141 | 282 | — |
Payday and installment loan stores in Kansas City
For comparison: storefront payday, installment and title lenders in Kansas City 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 |
|---|---|---|---|
| 300 US-69 Kansas City, MO 64119 | (816) 595-0930 | — | 4.9 |
| 344 NE 72nd St Gladstone, MO 64118 | (816) 436-1286 | — | 4.9 |
| 3617 Main St Kansas City, MO 64111 | (816) 756-5100 | — | 4.9 |
| 4100 Independence Ave Kansas City, MO 64124 | (816) 241-0829 | — | 5.0 |
| 7741 Troost Ave Kansas City, MO 64131 | (816) 333-5781 | — | 4.9 |
| 9004 E State Rte 350 Raytown, MO 64133 | (816) 313-6205 | — | 5.0 |
| 1321 Burlington St Ste 350 North Kansas City, MO 64116 | (816) 207-4377 | — | 4.8 |
| 4173 Sterling Ave Kansas City, MO 64133 | (816) 478-5100 | — | 4.8 |
| 9262 Blue Ridge Blvd Kansas City, MO 64138 | (816) 966-0055 | — | 4.9 |
| 1154 103rd St Kansas City, MO 64114 | (816) 942-9644 | — | 3.9 |
| 7932 N Oak Trafficway #209 Kansas City, MO 64118 | (816) 436-0189 | — | 4.1 |
| 9480 E State Rte 350 Raytown, MO 64133 | (816) 358-7000 | — | 4.1 |
| 3611 Main St Ste 107 Kansas City, MO 64111 | (816) 561-4774 | — | 4.6 |
| 6514 N Oak Trafficway Gladstone, MO 64118 | (816) 420-8500 | — | 4.9 |
| 7314 Raytown Rd B Raytown, MO 64133 | (816) 313-8292 | — | 4.9 |
| 7932 N. Oak Trafficway, Ste. 204 Kansas City, MO 64118 | (816) 436-9182 | Mon–Fri 10:00 AM – 6:00 PM Sat 10:00 AM – 2:00 PM Sun closed |
— |
| 8666 E. 63rd Street Kansas City, MO 64133 | (816) 313-6318 | Mon–Fri 10:00 AM – 6:00 PM Sat 10:00 AM – 2:00 PM Sun closed |
— |
| 1331 E 63rd St Kansas City, MO 64110 | (816) 363-2274 | — | 4.9 |
| 3947 Main St Kansas City, MO 64111 | (816) 931-0984 | — | 4.8 |
| 5720 N Antioch Rd Gladstone, MO 64119 | (816) 454-2590 | — | 4.9 |
| 6061 NE Antioch Rd Gladstone, MO 64119 | (816) 299-4610 | — | 4.7 |
More about Kansas City
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 Kansas City 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.