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 Greenville, SC
4 credit unions are headquartered in Greenville, with 108,213 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
- 4
- Members
- 108,213
- Federal
- 4
- State-chartered
- 0
Credit unions vs payday loan stores in Greenville
Greenville has 18 payday, installment and title loan stores but only 4 credit unions headquartered here — about 4.5 loan stores for every credit union. Local credit unions count 108,213 members — roughly 47 memberships per 100 residents.
Credit unions
4
1.7 per 100k residents
108,213 members
Payday & loan stores
18
7.8 per 100k residents
10 store chains
Biggest loan store chains in Greenville: TitleMax (6), Check 'n Go (3), Advance America (2), 1st Franklin Financial (1), ACE Cash Express (1).
What a $500 loan costs over 3 months
| Option | Payment | Total cost |
|---|---|---|
| Payday loan, re-borrowed 6 times (~391% 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: the SC maximum — $75 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 Greenville
- Median household income
- $63,701
- Payday fee of $75, share of two weeks' income
- 3.1%
- Hours of work to pay the $75 fee
- 4.3 hours
- PAL payment of $174.50, share of monthly income
- 3.3%
- A $400 emergency equals
- 2.3 days of income
- Households earning under $25,000
- 17.9%
- Residents below the poverty line
- 14.9%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Greenville are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in South Carolina
| Payday loan in SC | Credit union PAL | |
|---|---|---|
| Legal status | Allowed | Offered by many federal credit unions |
| Loan amount | $500 | $200 – $2,000 |
| Fee limit | 15% of face value ($75) | Application fee up to $20 |
| Typical APR | ~391% | 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: South Carolina law as summarized on our South Carolina 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 Greenville
| Credit union | Address | Members | Website |
|---|---|---|---|
| Spero Financial Federal Credit UnionFederal | PO Box 10708 Greenville, SC 29603 | 45,420 | spero.financial |
| Greenville Federal Credit UnionFederal | 1501 Wade Hampton Blvd Greenville, SC 29609 | 35,393 | greenvillefcu.com |
| Mtc Federal Credit UnionFederal | PO Box 1944 Greenville, SC 29602 | 15,990 | mtcfederal.com |
| Greenville Heritage Federal Credit UnionFederal | PO Box 2564 Greenville, SC 29602 | 11,410 | greenvilleheritage.com |
Payday and installment loan stores in Greenville
For comparison: storefront payday, installment and title lenders in Greenville 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 |
|---|---|---|---|
| 1860 Woodruff Rd Ste A Greenville, SC 29607 | (864) 329-8613 | — | 5.0 |
| 2 Farrs Bridge Rd Greenville, SC 29617 | (864) 553-7999 | — | 5.0 |
| 201 Mauldin Rd Suite A Greenville, SC 29605 | (864) 277-2032 | — | 4.9 |
| 3120 White Horse Rd Greenville, SC 29611 | (864) 269-0116 | — | 5.0 |
| 6114 White Horse Rd Ste A Greenville, SC 29611 | (864) 220-5055 | — | 5.0 |
| 947 N Pleasantburg Dr Greenville, SC 29607 | (864) 421-0970 | — | 5.0 |
| 1641 Woodruff Rd Unit 6 Greenville, SC 29615 | (864) 284-9800 | — | 4.9 |
| 3601 E North St Ste 3 Greenville, SC 29615 | (864) 609-0690 | — | 5.0 |
| 6133 White Horse Rd Greenville, SC 29611 | (864) 412-4251 | — | 4.9 |
| 1178 Woodruff Rd., Ste. 1 Greenville, SC 29607 | (864) 234-0999 | Mon–Fri 9:00 AM – 5:30 PM Sat 9:00 AM – 12:00 PM Sun closed |
— |
| 3403 W. Blue Ridge Drive Greenville, SC 29611 | (864) 269-9059 | Mon–Fri 9:00 AM – 5:30 PM Sat 9:00 AM – 12:00 PM Sun closed |
— |
| 2537 N Pleasantburg Dr Ste B Greenville, SC 29609 | (864) 232-1746 | — | 4.8 |
| 1259 S Pleasantburg Dr Ste b Greenville, SC 29605 | (864) 277-9987 | — | 4.9 |
| 101 Verdae Blvd Ste 340 Greenville, SC 29607 | (864) 284-0816 | — | 4.6 |
| 2537 N Pleasantburg Dr C Greenville, SC 29609 | (864) 232-9571 | — | 4.4 |
| 1511 Woodruff Rd D Greenville, SC 29607 | (864) 234-6738 | — | 3.5 |
| 2400 N Pleasantburg Dr Ste i Greenville, SC 29609 | (864) 268-7768 | — | 4.4 |
| 220 N Main St Suite 500 Greenville, SC 29601 | (704) 831-3800 | — | 4.8 |
More about Greenville
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 Greenville 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.