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 Austin, TX
17 credit unions are headquartered in Austin, with 1,058,786 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
- 17
- Members
- 1.1M
- Federal
- 6
- State-chartered
- 11
Credit unions vs payday loan stores in Austin
Austin has 32 payday, installment and title loan stores but only 17 credit unions headquartered here — about 1.9 loan stores for every credit union. Local credit unions count 1,058,786 members — roughly 91 memberships per 100 residents.
Credit unions
17
1.5 per 100k residents
1.1M members
Payday & loan stores
32
2.8 per 100k residents
13 store chains
Biggest loan store chains in Austin: TitleMax (9), OneMain Financial (4), ACE Cash Express (3), Oportun (3), 1st Franklin Financial (2).
What a $500 loan costs over 3 months
| Option | Payment | Total cost |
|---|---|---|
| Payday loan, re-borrowed 6 times (~662%+ 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: a typical fee of $75 on a $500 loan for 2 weeks (TX limits are not set in dollars), paid 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 Austin
- Median household income
- $104,070
- Payday fee of $75, share of two weeks' income
- 1.9%
- Hours of work to pay the $75 fee
- 2.7 hours
- PAL payment of $174.50, share of monthly income
- 2.0%
- A $400 emergency equals
- 1.4 days of income
- Households earning under $25,000
- 11.7%
- Residents below the poverty line
- 11.7%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Austin are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Texas
| Payday loan in TX | Credit union PAL | |
|---|---|---|
| Legal status | Allowed | Offered by many federal credit unions |
| Loan amount | No limit (CSO Model) | $200 – $2,000 |
| Fee limit | No state cap (fees set by city ordinances) (Varies) | Application fee up to $20 |
| Typical APR | ~662%+ | 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: Texas law as summarized on our Texas 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 Austin
| Credit union | Address | Members | Website |
|---|---|---|---|
| University Federal Credit UnionFederal | PO Box 9350 Austin, TX 78766 | 422,795 | ufcu.org |
| A+ Federal Credit UnionFederal | PO Box 14867 Austin, TX 78761 | 194,144 | aplusfcu.org |
| Austin Telco Federal Credit UnionFederal | 11149 Research Blvd Austin, TX 78759 | 95,564 | atfcu.org |
| United Heritage Credit UnionState-chartered | PO Box 202020 Austin, TX 78720 | 83,638 | uhcu.org |
| Greater Texas Federal Credit UnionFederal | 12544 Riata Vista Circle Austin, TX 78727 | 75,261 | gtfcu.org |
| Velocity Credit UnionState-chartered | P O Box 1089 Austin, TX 78767 | 71,906 | velocitycu.com |
| Amplify Credit UnionState-chartered | PO Box 85300 Austin, TX 78708 | 47,585 | goamplify.com |
| Pecu Credit UnionState-chartered | PO Box 2205 Austin, TX 78768 | 21,602 | pecutx.org |
| Capitol Credit UnionState-chartered | PO Box 81647 Austin, TX 78708 | 14,217 | ccutx.org |
| Government Employees Federal Credit UnionFederal | PO Box 81535 Austin, TX 78708 | 9,467 | gefcu-austin.org |
| Texas Dps Credit UnionState-chartered | PO Box 15346 Austin, TX 78761 | 5,762 | txdpscu.org |
| Texas Health Credit UnionState-chartered | 4800 Grover Ave Austin, TX 78756 | 4,816 | thcu.org |
| Travis County Credit UnionState-chartered | 1101 N Interstate 35 Austin, TX 78702 | 3,400 | tccu.net |
| Star of Texas Credit UnionState-chartered | 114 E Huntland Dr Austin, TX 78752 | 2,903 | staroftexascu.org |
| Austin Federal Credit UnionFederal | 1900 Woodward St Austin, TX 78741 | 2,498 | austinfcu.com |
| Lcra Credit UnionState-chartered | P O Box 19138 Austin, TX 78760 | 2,115 | lcracu.org |
| Vatat Credit UnionState-chartered | 614 E 12th St Austin, TX 78701 | 1,113 | vatatcu.org |
Payday and installment loan stores in Austin
For comparison: storefront payday, installment and title lenders in Austin 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 |
|---|---|---|---|
| 10010 Menchaca Rd Ste B Austin, TX 78748 | (512) 362-6234 | — | 4.9 |
| 1900 E Oltorf St Ste 106 Austin, TX 78741 | (512) 362-6938 | — | 4.9 |
| 1930 W William Cannon Dr Austin, TX 78745 | (512) 652-5878 | — | 5.0 |
| 2617 E 7th St Austin, TX 78702 | (512) 362-6175 | — | 5.0 |
| 3909 N Interstate Hwy 35 Austin, TX 78722 | (512) 652-0442 | — | 5.0 |
| 7837 Burnet Rd Austin, TX 78757 | (512) 362-5568 | — | 5.0 |
| 7901 Cameron Rd Ste 5A Austin, TX 78754 | (512) 652-3022 | — | 5.0 |
| 8505 Springdale Rd Austin, TX 78754 | (512) 605-6037 | — | 4.9 |
| 8929 N Lamar Blvd Austin, TX 78753 | (512) 605-6091 | — | 4.9 |
| 1212 W Parmer Ln Ste G Austin, TX 78727 | (512) 374-0941 | — | 4.2 |
| 13359 Research Blvd Ste B-408 Austin, TX 78750 | (512) 335-0526 | — | 3.8 |
| 9020 N Capital of Texas Hwy Bldg 2, Suite 275 Austin, TX 78759 | (512) 406-0214 | — | 3.3 |
| 9900 S I-35 Frontage Rd Ste 200 Austin, TX 78748 | (512) 326-1151 | — | 3.0 |
| 2237 E Riverside Dr #102 Austin, TX 78741 | (512) 447-5682 | — | 4.7 |
| 5341 Cameron Rd Austin, TX 78723 | (512) 458-5498 | — | 4.8 |
| 730 W Stassney Ln Ste 150 Austin, TX 78745 | (512) 447-9371 | — | 4.6 |
| 3909 N Interstate Hwy 35 Ste D-6 Austin, TX 78722 | (737) 701-5539 | — | 4.9 |
| 4410 E Riverside Dr Ste 100 Austin, TX 78741 | (512) 900-2328 | — | 5.0 |
| 8752 Research Blvd Austin, TX 78758 | (737) 250-2148 | — | 5.0 |
| 4631 Airport Blvd #120 Austin, TX 78751 | (512) 459-1743 | — | 4.9 |
| 500 W William Cannon Dr #426 Austin, TX 78745 | (512) 448-3991 | — | 5.0 |
| 13450 Research Blvd Ste 113 Austin, TX 78750 | (737) 253-8070 | — | 4.6 |
| 9300 I-35 Suite A200 Austin, TX 78748 | (737) 808-0015 | — | 2.6 |
| 2514 E Ben White Blvd Austin, TX 78741 | (512) 447-8077 | — | 4.9 |
| 7201 Cameron Rd Austin, TX 78752 | (512) 458-1422 | — | 4.9 |
| 1921 Lohmans Crossing Rd #202 Austin, TX 78734 | (512) 620-7040 | — | 4.5 |
| 8310 N Capital of Texas Hwy #200 Austin, TX 78731 | (512) 485-3575 | — | 1.8 |
| 1717 S Pleasant Valley Rd Austin, TX 78741 | (512) 478-1653 | — | 4.0 |
| 2110 W Slaughter Ln #180 Austin, TX 78748 | (512) 827-0750 | — | 4.6 |
| 5717 S I-35 Frontage Rd Suite 170 Austin, TX 78744 | (512) 442-1965 | — | 4.3 |
| 7419 Burnet Rd Austin, TX 78757 | (512) 873-7881 | — | 4.9 |
| Western Finance 6602 S Congress Ave Austin, TX 78745 | (512) 442-9787 | — | 4.9 |
More about Austin
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 Austin 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.