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 Helena, MT
2 credit unions are headquartered in Helena, with 23,028 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
- 2
- Members
- 23,028
- Federal
- 0
- State-chartered
- 2
Credit unions vs payday loan stores in Helena
Helena has 2 credit unions headquartered here and just 1 payday, installment or title loan store. Local credit unions count 23,028 members — roughly 37 memberships per 100 residents.
Credit unions
2
3.2 per 100k residents
23,028 members
Payday & loan stores
1
1.6 per 100k residents
1 store chain
Biggest loan store chains in Helena: OneMain Financial (1).
Borrowing $500 for 6 months in Helena
| Option | Payment | Total cost of borrowing |
|---|---|---|
| Installment loan at the Montana rate cap (36% APR) | $92.30/mo | $53.79 |
| Credit union PAL (28% APR) | $90.27/mo | $41.62 |
| Payday loan renewed every 2 weeks (typical $15 per $100, not available in Montana) | $75.00 every 2 weeks | $975.00 |
- Monthly payment at the Montana rate cap vs median monthly household income
- 1.4%
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 Helena
- Median household income
- $78,970
- A $400 emergency equals
- 1.8 days of income
- Households earning under $25,000
- 11.4%
- Residents below the poverty line
- 8.2%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Helena are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Montana
| Payday loan in MT | Credit union PAL | |
|---|---|---|
| Legal status | Not allowed — storefront payday loans are banned | Offered by many federal credit unions |
| Rate cap | Capped at 36% 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: Montana law as summarized on our Montana 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 Helena
| Credit union | Address | Members | Website |
|---|---|---|---|
| Intrepid Credit UnionState-chartered | PO Box 159 Helena, MT 59624 | 18,704 | intrepidcu.org |
| Vocal Credit UnionState-chartered | PO Box 7449 Helena, MT 59604 | 4,324 | vocal.coop |
Payday and installment loan stores in Helena
For comparison: storefront payday, installment and title lenders in Helena 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 |
|---|---|---|---|
| 3215 Dredge Dr c Helena, MT 59602 | (406) 449-8855 | — | 3.7 |
More about Helena
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 Helena 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.