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 Youngstown, OH
3 credit unions are headquartered in Youngstown, with 17,798 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
- 3
- Members
- 17,798
- Federal
- 2
- State-chartered
- 1
Credit unions vs payday loan stores in Youngstown
Youngstown has 10 payday, installment and title loan stores but only 3 credit unions headquartered here — about 3.3 loan stores for every credit union. Local credit unions count 17,798 members — roughly 11 memberships per 100 residents.
Credit unions
3
1.9 per 100k residents
17,798 members
Payday & loan stores
10
6.5 per 100k residents
6 store chains
Biggest loan store chains in Youngstown: ACE Cash Express (4), OneMain Financial (2), Advance America (1), Check 'n Go (1), 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 Youngstown
- Median household income
- $52,836
- Payday fee of $75, share of two weeks' income
- 3.7%
- Hours of work to pay the $75 fee
- 5.1 hours
- PAL payment of $174.50, share of monthly income
- 4.0%
- A $400 emergency equals
- 2.8 days of income
- Households earning under $25,000
- 25.3%
- Residents below the poverty line
- 22.3%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Youngstown 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 Youngstown
| Credit union | Address | Members | Website |
|---|---|---|---|
| Associated School Employees Credit UnionState-chartered | 1690 S. Canfiled Niles Rd Youngstown, OH 44515 | 15,478 | asecu.com |
| Doy Federal Credit UnionFederal | 1500 Gypsy Ln Youngstown, OH 44505 | 2,078 | doyfcu.com |
| Mahoning Valley Federal Credit UnionFederal | 15 Colonial Dr Ste 14 Youngstown, OH 44505 | 242 | mahoningvalleyfcu.com |
Payday and installment loan stores in Youngstown
For comparison: storefront payday, installment and title lenders in Youngstown 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 |
|---|---|---|---|
| 2550 1/2 Market St Youngstown, OH 44507 | (330) 788-2337 | — | 4.9 |
| 3029 Belmont Ave Youngstown, OH 44505 | (330) 759-0916 | — | 4.9 |
| 3306 Mahoning Ave Youngstown, OH 44509 | (330) 793-6808 | — | 4.9 |
| 4040 Youngstown-Poland Rd Youngstown, OH 44514 | (330) 788-1535 | — | 4.9 |
| 1449 Boardman-Canfield Rd #130 Boardman, OH 44512 | (330) 729-2161 | — | 4.3 |
| 6530 South Ave Ste 5 Youngstown, OH 44512 | (330) 726-0138 | — | 4.2 |
| 1698 S. Raccoon Road, Unit 7 Youngstown, OH 44515 | (330) 270-3583 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat–Sun closed |
— |
| 1600 S Raccoon Rd UNIT 3 Youngstown, OH 44515 | (330) 799-8500 | — | 5.0 |
| 926 Boardman Poland Rd #3 Boardman, OH 44512 | (330) 423-6080 | — | 4.8 |
| 1393 Boardman-Canfield Rd Ste H-1 Boardman, OH 44512 | (330) 333-7246 | — | 4.8 |
More about Youngstown
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 Youngstown 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.