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 Oregon City, OR
2 credit unions are headquartered in Oregon City, with 212,390 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
- 2
- Members
- 212,390
- Federal
- 1
- State-chartered
- 1
Credit unions vs payday loan stores in Oregon City
Oregon City has 3 payday, installment and title loan stores but only 2 credit unions headquartered here — about 1.5 loan stores for every credit union. Local credit unions count 212,390 members — roughly 370 memberships per 100 residents.
Credit unions
2
3.5 per 100k residents
212,390 members
Payday & loan stores
3
5.2 per 100k residents
3 store chains
Biggest loan store chains in Oregon City: ACE Cash Express (1), Mariner Finance (1), OneMain Financial (1).
What a $500 loan costs over 3 months
| Option | Payment | Total cost |
|---|---|---|
| Payday loan, re-borrowed 6 times (~154% APR) | $50.00 every 2 weeks | $300.00 |
| 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
- $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 City
- Median household income
- $100,388
- Payday fee of $50, share of two weeks' income
- 1.3%
- Hours of work to pay the $50 fee
- 2.3 hours
- PAL payment of $174.50, share of monthly income
- 2.1%
- A $400 emergency equals
- 1.5 days of income
- Households earning under $25,000
- 7.7%
- Residents below the poverty line
- 6.6%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Oregon City 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 loan in OR | Credit union PAL | |
|---|---|---|
| Legal status | Allowed | Offered by many federal credit unions |
| Loan amount | $500 | $200 – $2,000 |
| Fee limit | Capped at 36% APR + $10 per $100 max fee ($50) | Application fee up to $20 |
| Typical APR | ~154% | 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: 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 headquartered in Oregon City
| Credit union | Address | Members | Website |
|---|---|---|---|
| Rivermark Community Credit UnionState-chartered | 14405 Meyers Rd Oregon City, OR 97045 | 175,894 | rivermarkcu.org |
| Embold Federal Credit UnionFederal | PO Box 2020 Oregon City, OR 97045 | 36,496 | emboldcu.org |
Payday and installment loan stores in Oregon City
For comparison: storefront payday, installment and title lenders in Oregon City 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 |
|---|---|---|---|
| 1630 Beavercreek Rd J Oregon City, OR 97045 | (503) 722-1010 | — | 4.4 |
| 19049 S Beavercreek Rd Oregon City, OR 97045 | (503) 608-7000 | — | 4.8 |
| 901 Molalla Ave Oregon City, OR 97045 | (503) 656-1691 | — | 3.3 |
More about Oregon City
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 Oregon City 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.