Credit Unions vs Payday Loans in Oregon

47 credit unions are headquartered in Oregon, with 2,406,156 members in total. 26 are federal credit unions and 21 are state-chartered; all are federally insured by the NCUA.

Credit unions

47

Members

2.4M

Federal

26

State-chartered

21

Members per 100 people

57

CUs per 100k people

1.1

Credit unions vs payday loan stores in Oregon

Oregon has 52 payday, installment and title loan stores but only 47 credit unions headquartered here — about 1.1 loan stores for every credit union. Local credit unions count 2,406,156 members — roughly 57 memberships per 100 residents.

Biggest loan store chains in Oregon: ACE Cash Express (22), OneMain Financial (17), loanDepot (6), Mariner Finance (6), Speedy Cash (1).

What a $500 loan costs over 3 months

You keep with a credit union PAL over 3 months

$256.49 payday costs 7× more

Payday: the OR maximum — $50 on a $500 loan for 2 weeks, paid again each time the loan is renewed or taken out again (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 Oregon

Median household income

$83,810

Payday fee of $50, share of two weeks' income

1.6%

Hours of work to pay the $50 fee

2.5 hours

PAL payment of $174.50, share of monthly income

2.5%

A $400 emergency equals

1.7 days of income

Households earning under $25,000

13.9%

Residents below the poverty line

11.9%

Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Oregon are population-weighted and approximate. Hours of work are based on the median individual income.

Payday loans vs credit union PALs: the rules in Oregon

Payday rules: Oregon law as summarized on our Oregon 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 Oregon

Credit unions are headquartered in 24 cities and towns across Oregon. Pick a city for addresses and websites, or scroll down for the smaller towns.

• Portland · 13
• Salem · 4
• Eugene · 3
• Springfield · 3
• Corvallis · 2
• Oregon City · 2
• Albany · 1
• Bend · 1
• Klamath Falls · 1
• Medford · 1
• Roseburg · 1

All credit unions in Oregon

Credit unions in smaller towns of Oregon

Other cities and towns in Oregon where credit unions are headquartered, and how many there are in each.

• Clackamas 1
• Clatskanie 1
• Coquille 1
• Durkee 1
• Gladstone 1
• John Day 1
• Lebanon 1
• Milwaukie 2
• North Bend 1
• Pendleton 1
• Saint Helens 1
• Tigard 2
• Tualatin 1