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 Nevada
8 credit unions are headquartered in Nevada, with 245,885 members in total. 5 are federal credit unions and 3 are state-chartered; all are federally insured by the NCUA.
- Credit unions
- 8
- Members
- 245,885
- Federal
- 5
- State-chartered
- 3
- Members per 100 people
- 8
- CUs per 100k people
- 0.3
Credit unions vs payday loan stores in Nevada
Nevada has 182 payday, installment and title loan stores but only 8 credit unions headquartered here — about 22.8 loan stores for every credit union. Local credit unions count 245,885 members — roughly 8 memberships per 100 residents.
Credit unions
8
0.3 per 100k residents
245,885 members
Payday & loan stores
182
5.8 per 100k residents
11 store chains
Biggest loan store chains in Nevada: Dollar Loan Center (47), Check City (29), TitleMax (24), Moneytree (20), Speedy Cash (18).
What a $500 loan costs over 3 months
| Option | Payment | Total cost |
|---|---|---|
| Payday loan, re-borrowed 6 times (~652%+ 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 (NV 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 Nevada
- Median household income
- $78,884
- Payday fee of $75, share of two weeks' income
- 2.5%
- Hours of work to pay the $75 fee
- 3.9 hours
- PAL payment of $174.50, share of monthly income
- 2.7%
- A $400 emergency equals
- 1.9 days of income
- Households earning under $25,000
- 14.4%
- Residents below the poverty line
- 12.6%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Nevada are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Nevada
| Payday loan in NV | Credit union PAL | |
|---|---|---|
| Legal status | Allowed | Offered by many federal credit unions |
| Loan amount | 25% of gross income | $200 – $2,000 |
| Fee limit | No strict state limit (N/A) | Application fee up to $20 |
| Typical APR | ~652%+ | 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: Nevada law as summarized on our Nevada 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 by city in Nevada
Credit unions are headquartered in 6 cities and towns across Nevada. Pick a city for addresses and websites, or scroll down for the smaller towns.
All credit unions in Nevada
| Credit union | Headquarters | Members | Website |
|---|---|---|---|
| Greater Nevada Credit UnionState-chartered | Carson City | 89,066 | gncu.org |
| One Nevada Credit UnionState-chartered | Las Vegas | 74,308 | onenevada.org |
| Great Basin Federal Credit UnionFederal | Reno | 28,511 | greatbasin.org |
| Weststar Credit UnionState-chartered | Las Vegas | 19,256 | weststar.org |
| Elko Federal Credit UnionFederal | Elko | 18,634 | efcu.org |
| Sierra Pacific Federal Credit UnionFederal | Reno | 10,886 | sierrapacificfcu.org |
| Churchill County Federal Credit UnionFederal | Fallon | 2,983 | myccfcu.org |
| Pahranagat Valley Federal Credit UnionFederal | Alamo | 2,241 | pvfcu.net |
Credit unions in smaller towns of Nevada
Other cities and towns in Nevada where credit unions are headquartered, and how many there are in each.
- Alamo 1
- Elko 1
- Fallon 1
Credit unions are listed in the city of their headquarters; many have branches in other cities and accept members from across the state or the country, so members per 100 people is an approximation.