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 Albuquerque, NM
7 credit unions are headquartered in Albuquerque, with 841,002 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
- 7
- Members
- 841,002
- Federal
- 5
- State-chartered
- 2
Credit unions vs payday loan stores in Albuquerque
Albuquerque has 21 payday, installment and title loan stores but only 7 credit unions headquartered here — about 3.0 loan stores for every credit union. Local credit unions count 841,002 members — roughly 129 memberships per 100 residents.
Credit unions
7
1.1 per 100k residents
841,002 members
Payday & loan stores
21
3.2 per 100k residents
8 store chains
Biggest loan store chains in Albuquerque: ACE Cash Express (6), OneMain Financial (4), TitleMax (3), Approved Cash (2), Check 'n Go (2).
Borrowing $500 for 6 months in Albuquerque
| Option | Payment | Total cost of borrowing |
|---|---|---|
| Installment loan at the New Mexico 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 New Mexico) | $75.00 every 2 weeks | $975.00 |
- Monthly payment at the New Mexico rate cap vs median monthly household income
- 1.6%
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 Albuquerque
- Median household income
- $68,578
- A $400 emergency equals
- 2.1 days of income
- Households earning under $25,000
- 19.1%
- Residents below the poverty line
- 16.0%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Albuquerque are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in New Mexico
| Payday loan in NM | Credit union PAL | |
|---|---|---|
| Legal status | Not allowed — storefront payday loans are banned | Offered by many federal credit unions |
| Rate cap | Capped at 36% APR (2022 Law) | 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: New Mexico law as summarized on our New Mexico 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 Albuquerque
| Credit union | Address | Members | Website |
|---|---|---|---|
| Nusenda Federal Credit UnionFederal | PO Box 8530 Albuquerque, NM 87198 | 295,895 | nusenda.org |
| Sunward Federal Credit UnionFederal | P.O. Box 23040 Albuquerque, NM 87192 | 174,947 | gosunward.org |
| First Financial Credit UnionState-chartered | PO Box 25587 Albuquerque, NM 87125 | 99,409 | ffnm.org |
| U.S. Eagle Federal Credit UnionFederal | P.O. Box 129 Albuquerque, NM 87103 | 98,947 | useagle.org |
| Sandia Area Federal Credit UnionFederal | P.O. Box 18044 Albuquerque, NM 87185 | 70,188 | sandia.org |
| Rio Grande Credit UnionState-chartered | 1121 4th St NW Albuquerque, NM 87102 | 50,834 | riograndecu.org |
| Kirtland Federal Credit UnionFederal | 6440 Gibson Blvd SE Albuquerque, NM 87108 | 50,782 | kirtlandcu.org |
Payday and installment loan stores in Albuquerque
For comparison: storefront payday, installment and title lenders in Albuquerque 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 |
|---|---|---|---|
| 111 Coors Blvd NW Ste C1 Albuquerque, NM 87121 | (505) 836-2274 | — | 4.7 |
| 1521 Eubank Blvd NE Albuquerque, NM 87112 | (505) 296-2114 | — | 4.8 |
| 3200 Coors Blvd NW F Albuquerque, NM 87120 | (505) 831-6454 | — | 4.9 |
| 333 Montaño Rd NW Ste E Albuquerque, NM 87107 | (505) 342-2400 | — | 4.8 |
| 4001 San Mateo Blvd NE Ste D Albuquerque, NM 87110 | (505) 889-8084 | — | 4.8 |
| 4720 Central Ave SE Albuquerque, NM 87108 | (505) 266-6151 | — | 4.7 |
| 111 Coors Blvd NW Ste E1-E2 Albuquerque, NM 87121 | (505) 352-7322 | — | 4.3 |
| 11500 Menaul Blvd NE Ste E Albuquerque, NM 87112 | (505) 299-8789 | — | 4.0 |
| 5019 Menaul Blvd NE Albuquerque, NM 87110 | (505) 880-1733 | — | 3.6 |
| 6300 San Mateo Blvd NE Ste H-2 Albuquerque, NM 87109 | (505) 821-1911 | — | 3.9 |
| 3900 San Mateo Blvd NE Albuquerque, NM 87110 | (505) 883-3096 | — | 4.9 |
| 4420 Central Ave SW Albuquerque, NM 87105 | (505) 836-7310 | — | 5.0 |
| 4603 4th St NW Albuquerque, NM 87107 | (505) 217-7438 | — | 4.9 |
| 4701 Menaul Blvd NE Albuquerque, NM 87110 | (505) 881-2274 | — | 3.0 |
| Liberty Loans 8400 Menaul Blvd NE Ste B Albuquerque, NM 87112 | (505) 299-8484 | — | 2.6 |
| 1625 Rio Bravo Blvd SW Space #26 Albuquerque, NM 87105 | (505) 877-4049 | — | 4.9 |
| 6211 4th St NW #5 Albuquerque, NM 87107 | (505) 344-1660 | — | 4.6 |
| Western Finance 3765 Isleta Blvd SW Ste G Albuquerque, NM 87105 | (505) 873-6037 | — | 4.4 |
| Shamrock Finance 933 San Mateo Blvd NE Ste 200 Albuquerque, NM 87108 | (505) 889-8979 | — | 4.4 |
| 111 Coors Blvd NW #C2 Albuquerque, NM 87121 | (505) 831-1305 | — | 4.9 |
| 8212 Louisiana Blvd NE Ste B Albuquerque, NM 87113 | (505) 588-0070 | — | 4.8 |
More about Albuquerque
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 Albuquerque 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.