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 Portland, OR
13 credit unions are headquartered in Portland, with 786,822 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
- 13
- Members
- 786,822
- Federal
- 8
- State-chartered
- 5
Credit unions vs payday loan stores in Portland
Portland has 13 credit unions headquartered here and 11 payday, installment and title loan stores. Local credit unions count 786,822 members — roughly 85 memberships per 100 residents.
Credit unions
13
1.4 per 100k residents
786,822 members
Payday & loan stores
11
1.2 per 100k residents
4 store chains
Biggest loan store chains in Portland: ACE Cash Express (6), OneMain Financial (3), Speedy Cash (1), loanDepot (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 Portland
- Median household income
- $96,109
- Payday fee of $50, share of two weeks' income
- 1.4%
- Hours of work to pay the $50 fee
- 2.1 hours
- PAL payment of $174.50, share of monthly income
- 2.2%
- A $400 emergency equals
- 1.5 days of income
- Households earning under $25,000
- 12.8%
- Residents below the poverty line
- 11.3%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Portland 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 Portland
| Credit union | Address | Members | Website |
|---|---|---|---|
| Onpoint Community Credit UnionState-chartered | PO Box 3750 Portland, OR 97208 | 648,972 | onpointcu.com |
| Consolidated Federal Credit UnionFederal | 1033 NE 6th Ave Portland, OR 97232 | 38,284 | cccu.com |
| Pacific N W Federal Credit UnionFederal | 12005 NE Erin Way Portland, OR 97220 | 23,377 | pnwfcu.org |
| Ironworkers Usa Federal Credit UnionFederal | 11620 NE Ainsworth Cir Portland, OR 97220 | 18,169 | ironworkersusa.org |
| Ibew & United Workers Federal Credit UnionFederal | PO Box 16877 Portland, OR 97292 | 14,304 | ibewuwfcu.com |
| NW Priority Credit UnionState-chartered | PO Box 16640 Portland, OR 97292 | 11,410 | nwprioritycu.org |
| Trailhead Federal Credit UnionFederal | PO Box 2788 Portland, OR 97208 | 8,546 | trailheadcu.org |
| Point West Credit UnionState-chartered | PO Box 11999 Portland, OR 97211 | 7,093 | pointwestcu.com |
| Teamsters Council #37 Credit UnionState-chartered | 1866 NE 162nd Ave Portland, OR 97230 | 5,048 | tcu37.com |
| Castparts Employees Federal Credit UnionFederal | 8120 SE Luther Rd. Portland, OR 97206 | 4,701 | castpartsfcu.com |
| Sunset Federal Credit UnionFederal | 1100 NW Murray Rd Ste 200 Portland, OR 97229 | 3,559 | sspfcu.com |
| Northwest Adventist Federal Credit UnionFederal | 10333 SE Main St Portland, OR 97216 | 3,155 | mynwcu.com |
| Radio Cab Credit UnionState-chartered | 1613 NW Kearney St Portland, OR 97209 | 204 | radiocab.net |
Payday and installment loan stores in Portland
For comparison: storefront payday, installment and title lenders in Portland 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 |
|---|---|---|---|
| 11705 SW Pacific Hwy Ste Y Tigard, OR 97223 | (503) 968-1010 | — | 4.7 |
| 11902 SE Stark St Portland, OR 97216 | (503) 255-2274 | — | 4.6 |
| 16502 SE Division St H Portland, OR 97236 | (503) 760-4600 | — | 4.7 |
| 2722 N Lombard St Portland, OR 97217 | (503) 285-2929 | — | 4.5 |
| 2929 SE Powell Blvd Portland, OR 97202 | (503) 233-2274 | — | 4.5 |
| 5600 NE Martin Luther King Jr Blvd Portland, OR 97211 | (503) 287-6669 | — | 4.8 |
| 4340 NE Sandy Blvd Portland, OR 97213 | (503) 282-3284 | — | 3.4 |
| 9732 SE Washington St Ste K Portland, OR 97216 | (503) 256-0969 | — | 3.1 |
| 9900 SW Greenburg Rd #180 Tigard, OR 97223 | (503) 665-4194 | — | 3.9 |
| Rapid Cash 12131 SE Powell Blvd Portland, OR 97266 | (503) 762-2224 | — | 4.9 |
| 9600 SW Oak St #520 Tigard, OR 97223 | (971) 762-1310 | — | 1.0 |
More about Portland
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 Portland 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.