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 Cincinnati, OH
11 credit unions are headquartered in Cincinnati, with 109,295 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
- 11
- Members
- 109,295
- Federal
- 8
- State-chartered
- 3
Credit unions vs payday loan stores in Cincinnati
Cincinnati has 12 payday, installment and title loan stores but only 11 credit unions headquartered here — about 1.1 loan stores for every credit union. Local credit unions count 109,295 members — roughly 13 memberships per 100 residents.
Credit unions
11
1.4 per 100k residents
109,295 members
Payday & loan stores
12
1.5 per 100k residents
5 store chains
Biggest loan store chains in Cincinnati: OneMain Financial (5), ACE Cash Express (2), Advance America (2), Mariner Finance (2), Lendmark Financial Services (1).
What a $500 loan costs over 3 months
| Option | Payment | Total cost |
|---|---|---|
| Payday loan, re-borrowed 6 times (~28% 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 (OH 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 Cincinnati
- Median household income
- $73,894
- Payday fee of $75, share of two weeks' income
- 2.6%
- Hours of work to pay the $75 fee
- 3.7 hours
- PAL payment of $174.50, share of monthly income
- 2.8%
- A $400 emergency equals
- 2.0 days of income
- Households earning under $25,000
- 18.2%
- Residents below the poverty line
- 15.4%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Cincinnati are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Ohio
| Payday loan in OH | Credit union PAL | |
|---|---|---|
| Legal status | Allowed | Offered by many federal credit unions |
| Loan amount | $1,000 | $200 – $2,000 |
| Fee limit | 28% APR + max $20 monthly fee (Varies) | Application fee up to $20 |
| Typical APR | ~28% | 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: Ohio law as summarized on our Ohio 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 Cincinnati
| Credit union | Address | Members | Website |
|---|---|---|---|
| Sharefax Credit UnionState-chartered | 604 Ivy Gateway Cincinnati, OH 45245 | 42,151 | sharefax.org |
| Cinfed Federal Credit UnionFederal | 4801 Kennedy Avenue Cincinnati, OH 45209 | 38,665 | cinfed.org |
| Cincinnati Ohio Police Federal Credit UnionFederal | 959 W 8th St Cincinnati, OH 45203 | 11,186 | copfcu.com |
| Children's Medical Center Federal Credit UnionFederal | 3333 Burnet Ave Cincinnati, OH 45229 | 5,908 | cincinnatichildrens.org |
| Cincinnati Healthcare Associates Federal Credit UnionFederal | 2139 Auburn Ave. Cincinnati, OH 45219 | 3,161 | chacu.org |
| Local Union 392 Federal Credit UnionFederal | 1228 Central Parkway, Suite 302 Cincinnati, OH 45202 | 2,720 | local392fcu.org |
| Cincinnati Interagency Federal Credit UnionFederal | 26 Martin Luther King Dr #G4 Cincinnati, OH 45220 | 2,015 | cifcu.org |
| Deca Credit UnionState-chartered | 3118 Colerain Ave Cincinnati, OH 45225 | 1,799 | — |
| St. James Parish Credit UnionState-chartered | 6195 Cheviot Rd Cincinnati, OH 45247 | 799 | stjpcu.com |
| W T Community Federal Credit UnionFederal | 755 Ohio Pike Cincinnati, OH 45245 | 731 | — |
| Mt Zion Woodlawn Federal Credit UnionFederal | 10180 Woodlawn Blvd Cincinnati, OH 45215 | 160 | — |
Payday and installment loan stores in Cincinnati
For comparison: storefront payday, installment and title lenders in Cincinnati 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 |
|---|---|---|---|
| 11336 Princeton Pike Cincinnati, OH 45246 | (513) 771-0336 | — | 4.2 |
| 2038 Beechmont Ave Cincinnati, OH 45230 | — | — | 1.0 |
| 4440 Glen Este-Withamsville Rd Cincinnati, OH 45245 | (513) 753-8470 | — | 3.5 |
| 6175 Glenway Ave C Cincinnati, OH 45211 | (513) 661-9939 | — | 3.6 |
| 8433 Colerain Ave Cincinnati, OH 45239 | (513) 923-3000 | — | 4.6 |
| 2516 Victory Pkwy Cincinnati, OH 45206 | (513) 751-2274 | — | 4.8 |
| 4981 Vine St Cincinnati, OH 45217 | (513) 641-0756 | — | 4.9 |
| 10589 Springfield Pike Cincinnati, OH 45215 | (513) 771-1114 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat–Sun closed |
— |
| 8320 Colerain Avenue Cincinnati, OH 45239 | (513) 923-2247 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat–Sun closed |
— |
| 3657-D Stone Creek Blvd Cincinnati, OH 45251 | (513) 873-4440 | — | 4.8 |
| 4394 Eastgate Square Dr #1800 Cincinnati, OH 45245 | (513) 630-1350 | — | 4.7 |
| 454 Ohio Pike #22 Cincinnati, OH 45255 | (513) 813-0300 | — | 5.0 |
More about Cincinnati
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 Cincinnati 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.