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 Louis, MO
13 credit unions are headquartered in Saint Louis, with 290,826 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
- 13
- Members
- 290,826
- Federal
- 3
- State-chartered
- 10
Credit unions vs payday loan stores in Saint Louis
Saint Louis has 27 payday, installment and title loan stores but only 13 credit unions headquartered here — about 2.1 loan stores for every credit union. Local credit unions count 290,826 members — roughly 33 memberships per 100 residents.
Credit unions
13
1.5 per 100k residents
290,826 members
Payday & loan stores
27
3.0 per 100k residents
8 store chains
Biggest loan store chains in Saint Louis: TitleMax (9), ACE Cash Express (7), OneMain Financial (3), Advance America (2), Check 'n Go (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 Saint Louis
- Median household income
- $75,419
- Payday fee of $75, share of two weeks' income
- 2.6%
- Hours of work to pay the $75 fee
- 3.6 hours
- PAL payment of $174.50, share of monthly income
- 2.8%
- A $400 emergency equals
- 1.9 days of income
- Households earning under $25,000
- 17.7%
- Residents below the poverty line
- 14.1%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Saint Louis 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 Louis
| Credit union | Address | Members | Website |
|---|---|---|---|
| Together Credit UnionState-chartered | 423 Lynch St Saint Louis, MO 63118 | 147,485 | togethercu.org |
| St. Louis Community Credit UnionState-chartered | 3651 Forest Park Ave Saint Louis, MO 63108 | 50,924 | stlouiscommunity.com |
| Neighbors Credit UnionState-chartered | 6300 S Lindbergh Blvd Saint Louis, MO 63123 | 47,638 | neighborscu.org |
| Gateway Metro Federal Credit UnionFederal | 1001 Pine St Saint Louis, MO 63101 | 9,510 | gogmfcu.org |
| Century Credit UnionState-chartered | 1540 Lemay Ferry Rd Saint Louis, MO 63125 | 9,500 | centurycu.org |
| First Missouri Credit UnionState-chartered | 1690 Lemay Ferry Rd Saint Louis, MO 63125 | 7,857 | 1stmocu.org |
| Health Care Family Credit UnionState-chartered | 2114 S Big Bend Blvd Saint Louis, MO 63117 | 5,068 | hcfcu4u.org |
| Lutheran Federal Credit UnionFederal | 10733 Sunset Office Dr Ste 406 Saint Louis, MO 63127 | 4,471 | lutheranfcu.org |
| Members 1st Credit UnionState-chartered | 4702 Mattis Rd Saint Louis, MO 63128 | 4,190 | me1stcu.com |
| St. Louis Policemen`S Credit UnionState-chartered | 1200 Clark Ave Saint Louis, MO 63103 | 2,096 | stlpolicecu.com |
| Patriot Credit UnionState-chartered | 4343 Telegraph Rd, Patriot Credit U Saint Louis, MO 63129 | 1,524 | patriotcu.com |
| West Side Baptist Church Federal Credit UnionFederal | 4675 Page Blvd Saint Louis, MO 63113 | 332 | westsidembc.org |
| Co - Lib Credit UnionState-chartered | 1640 S Lindbergh Blvd Saint Louis, MO 63131 | 231 | — |
Payday and installment loan stores in Saint Louis
For comparison: storefront payday, installment and title lenders in Saint Louis 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 |
|---|---|---|---|
| 1 N Oaks Plaza Ste B St. Louis, MO 63121 | (314) 385-9087 | — | 5.0 |
| 10415 Watson Rd St. Louis, MO 63127 | (314) 686-6050 | — | 4.9 |
| 10568 Page Ave St. Louis, MO 63132 | (314) 890-2220 | — | 5.0 |
| 1311 N Grand Blvd St. Louis, MO 63106 | (314) 932-4995 | — | 5.0 |
| 2629 Gravois Ave St. Louis, MO 63118 | (314) 881-3975 | — | 5.0 |
| 3227 S Kingshighway Blvd St. Louis, MO 63139 | (314) 881-6164 | — | 4.9 |
| 7405 W Florissant Ave St. Louis, MO 63136 | (314) 446-6006 | — | 5.0 |
| 8640 Airport Rd Berkeley, MO 63134 | (314) 521-3608 | — | 4.9 |
| 9814 W Florissant Ave St. Louis, MO 63136 | (314) 388-4850 | — | 4.9 |
| 10004 Gravois Rd St. Louis, MO 63123 | (314) 638-7200 | — | 4.9 |
| 10016 W Florissant Ave St. Louis, MO 63136 | (314) 388-3175 | — | 4.9 |
| 10578 Page Ave St. Louis, MO 63132 | (314) 423-4949 | — | 4.9 |
| 3655 S Grand Blvd St. Louis, MO 63118 | (314) 773-1186 | — | 4.9 |
| 6528 Manchester Ave St. Louis, MO 63139 | (314) 644-2654 | — | 4.9 |
| 7028 W Florissant Ave St. Louis, MO 63136 | (314) 381-9100 | — | 4.9 |
| 7856 Olive Blvd University City, MO 63130 | (314) 863-7500 | — | 4.8 |
| 379 Watson Plaza St. Louis, MO 63126 | (314) 966-6020 | — | 3.1 |
| 5811 Chippewa St Ste A2 St. Louis, MO 63109 | (314) 752-4581 | — | 3.7 |
| 9120 Overland Plaza Overland, MO 63114 | (314) 890-2227 | — | 3.7 |
| 3861 Lemay Ferry Rd. Saint Louis, MO 63125 | (314) 416-7780 | Mon–Fri 10:00 AM – 6:00 PM Sat 10:00 AM – 1:00 PM Sun closed |
— |
| 6902 Olive Blvd. University City, MO 63130 | (314) 862-1678 | Mon–Fri 10:00 AM – 6:00 PM Sat 10:00 AM – 1:00 PM Sun closed |
— |
| 1415 N Grand Blvd St. Louis, MO 63106 | (314) 535-5496 | — | 4.9 |
| 8503 Olive Blvd Olivette, MO 63132 | (314) 733-1115 | — | 4.8 |
| 12645 Olive Blvd Ste 222 Creve Coeur, MO 63141 | (417) 986-0920 | — | 4.6 |
| Two Cityplace Dr 2nd Floor St. Louis, MO 63141 | (314) 354-7100 | — | 4.1 |
| 313 Watson Plaza St. Louis, MO 63126 | (314) 282-6789 | — | 3.7 |
| 9004 St Charles Rock Rd St. Louis, MO 63114 | (314) 427-1116 | — | 4.8 |
More about Saint Louis
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 Louis 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.