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 Wilkes Barre, PA
6 credit unions are headquartered in Wilkes Barre, with 31,727 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
- 6
- Members
- 31,727
- Federal
- 6
- State-chartered
- 0
Credit unions vs payday loan stores in Wilkes Barre
Wilkes Barre has 6 credit unions headquartered here and 3 payday, installment and title loan stores. Local credit unions count 31,727 members — roughly 41 memberships per 100 residents.
Credit unions
6
7.7 per 100k residents
31,727 members
Payday & loan stores
3
3.8 per 100k residents
3 store chains
Biggest loan store chains in Wilkes Barre: Lendmark Financial Services (1), Mariner Finance (1), OneMain Financial (1).
Borrowing $500 for 6 months in Wilkes Barre
| Option | Payment | Total cost of borrowing |
|---|---|---|
| Installment loan at the Pennsylvania rate cap (24% APR) | $89.26/mo | $35.58 |
| Credit union PAL (28% APR) | $90.27/mo | $41.62 |
| Payday loan renewed every 2 weeks (typical $15 per $100, not available in Pennsylvania) | $75.00 every 2 weeks | $975.00 |
- Monthly payment at the Pennsylvania rate cap vs median monthly household income
- 1.9%
Example calculation with fixed monthly payments; the payday row shows typical out-of-state pricing for comparison. Actual rates and terms vary by lender.
What it means for a household in Wilkes Barre
- Median household income
- $55,596
- A $400 emergency equals
- 2.6 days of income
- Households earning under $25,000
- 21.9%
- Residents below the poverty line
- 19.0%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Wilkes Barre are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Pennsylvania
| Payday loan in PA | Credit union PAL | |
|---|---|---|
| Legal status | Not allowed — storefront payday loans are banned | Offered by many federal credit unions |
| Rate cap | Capped at 24% APR | 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: Pennsylvania law as summarized on our Pennsylvania 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 Wilkes Barre
| Credit union | Address | Members | Website |
|---|---|---|---|
| Cross Valley Federal Credit UnionFederal | 640 Baltimore Dr Wilkes Barre, PA 18702 | 17,094 | crossvalleyfcu.org |
| Corner Post Federal Credit UnionFederal | 566 South Main Street Wilkes Barre, PA 18701 | 5,274 | cornerpostfcu.org |
| Vantage Trust Federal Credit UnionFederal | 247 Wilkes-Barre Township Blvd Wilkes Barre, PA 18702 | 5,048 | vantagetrustfcu.org |
| Earning Tree Federal Credit UnionFederal | PO Box 1234 Wilkes Barre, PA 18703 | 1,868 | earningtreefcu.wordpress.com |
| Wyoming Valley Educational Empl Federal Credit UnionFederal | P.O. Box 1194 Wilkes Barre, PA 18703 | 1,589 | wveefcu.wordpress.com |
| Saint Nicholas Federal Credit UnionFederal | PO Box 1213 Wilkes Barre, PA 18703 | 854 | snfcu.org |
Payday and installment loan stores in Wilkes Barre
For comparison: storefront payday, installment and title lenders in Wilkes Barre 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 |
|---|---|---|---|
| 120 East End Centre Wilkes-Barre, PA 18702 | (570) 846-2330 | — | 5.0 |
| 765 Kidder St Wilkes-Barre, PA 18702 | (570) 846-2284 | — | 4.8 |
| 1065 PA-315 Ste 304 Wilkes-Barre, PA 18702 | (570) 823-6147 | — | 4.1 |
More about Wilkes Barre
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 Wilkes Barre 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.