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 Saint Charles, MO
1 credit union is headquartered in Saint Charles, with 68,069 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
- 68,069
- Federal
- 0
- State-chartered
- 1
Credit unions vs payday loan stores in Saint Charles
Saint Charles has 6 payday, installment and title loan stores but only 1 credit unions headquartered here — about 6.0 loan stores for every credit union. Local credit unions count 68,069 members — roughly 48 memberships per 100 residents.
Credit unions
1
0.7 per 100k residents
68,069 members
Payday & loan stores
6
4.2 per 100k residents
5 store chains
Biggest loan store chains in Saint Charles: TitleMax (2), ACE Cash Express (1), Advance America (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 Saint Charles
- Median household income
- $97,683
- Payday fee of $75, share of two weeks' income
- 2.0%
- Hours of work to pay the $75 fee
- 3.1 hours
- PAL payment of $174.50, share of monthly income
- 2.1%
- A $400 emergency equals
- 1.5 days of income
- Households earning under $25,000
- 7.1%
- Residents below the poverty line
- 5.2%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Saint Charles 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 Saint Charles
| Credit union | Address | Members | Website |
|---|---|---|---|
| Vantage Credit UnionState-chartered | 19 Research Park Ct Saint Charles, MO 63304 | 68,069 | vcu.com |
Payday and installment loan stores in Saint Charles
For comparison: storefront payday, installment and title lenders in Saint Charles 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 |
|---|---|---|---|
| 1889 S Old Hwy 94 St Charles, MO 63303 | (636) 757-1244 | — | 5.0 |
| 3850 W Clay St St Charles, MO 63301 | (636) 757-9000 | — | 5.0 |
| 601 1st Capitol Dr St Charles, MO 63301 | (636) 916-4973 | — | 4.9 |
| 2406 West Clay Saint Charles, MO 63301 | (636) 946-8198 | Mon–Fri 10:00 AM – 6:00 PM Sat 10:00 AM – 1:00 PM Sun closed |
— |
| 1602 Country Club Plaza Dr St Charles, MO 63303 | (636) 352-1602 | — | 4.9 |
| 2157 Bluestone Dr St Charles, MO 63303 | (636) 939-2400 | — | 4.8 |
More about Saint Charles
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 Saint Charles 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.