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 Beaumont, TX
8 credit unions are headquartered in Beaumont, with 167,506 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
- 8
- Members
- 167,506
- Federal
- 4
- State-chartered
- 4
Credit unions vs payday loan stores in Beaumont
Beaumont has 13 payday, installment and title loan stores but only 8 credit unions headquartered here — about 1.6 loan stores for every credit union. Local credit unions count 167,506 members — roughly 118 memberships per 100 residents.
Credit unions
8
5.7 per 100k residents
167,506 members
Payday & loan stores
13
9.2 per 100k residents
11 store chains
Biggest loan store chains in Beaumont: Texas Car Title and Payday Loan Services (2), TitleMax (2), ACE Cash Express (1), Advance America (1), Lendmark Financial Services (1).
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 Beaumont
- Median household income
- $62,630
- Payday fee of $75, share of two weeks' income
- 3.1%
- Hours of work to pay the $75 fee
- 4.4 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
- 20.5%
- Residents below the poverty line
- 18.8%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Beaumont 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 Beaumont
| Credit union | Address | Members | Website |
|---|---|---|---|
| Rave Financial Credit UnionState-chartered | P.O. Box 12849 Beaumont, TX 77726 | 88,140 | bankwithrave.com |
| Dugood Federal Credit UnionFederal | PO Box 12899 Beaumont, TX 77726 | 37,857 | dugood.org |
| Education First Federal Credit UnionFederal | 7025 Eastex Freeway Beaumont, TX 77706 | 32,587 | educationfirstfcu.org |
| Common Cents Federal Credit UnionFederal | PO Box 20396 Beaumont, TX 77720 | 3,647 | commoncentscu.com |
| Beaumont Community Credit UnionState-chartered | 660 South M L King Jr Pkwy Beaumont, TX 77701 | 3,407 | bmtccu.com |
| Coburn Credit UnionState-chartered | P.O. Box 2177 Beaumont, TX 77701 | 929 | — |
| Union Pacific Employees Credit UnionState-chartered | 550 Lindbergh Dr Beaumont, TX 77707 | 624 | — |
| Pear Orchard Federal Credit UnionFederal | 3390 Sarah St Beaumont, TX 77705 | 315 | — |
Payday and installment loan stores in Beaumont
For comparison: storefront payday, installment and title lenders in Beaumont 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 |
|---|---|---|---|
|
Texas Car Title and Payday Loan Services
2 stores in Beaumont
texascartitleandpaydayloanservicesinc.com
|
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| 3810 College St Beaumont, TX 77701 | (409) 835-8861 | — | 4.8 |
| 4150 E Lucas Dr Beaumont, TX 77708 | (409) 892-9000 | — | 4.9 |
| 3680 College St Ste A Beaumont, TX 77701 | (409) 835-0544 | — | 4.9 |
| 5330 Eastex Fwy Beaumont, TX 77708 | (409) 204-4885 | — | 4.9 |
| 4130 E Lucas Dr Ste A Beaumont, TX 77708 | (409) 898-1668 | — | 4.8 |
| 3829 Phelan Blvd. Beaumont, TX 77707 | (409) 832-4314 | Mon–Fri 10:00 AM – 6:00 PM Sat 10:00 AM – 3:00 PM Sun closed |
— |
| 196 S Dowlen Rd Beaumont, TX 77707 | (409) 861-2221 | — | 4.2 |
| 3939 Dowlen Rd #7 Beaumont, TX 77706 | (409) 240-2535 | — | 4.9 |
| 4410 Dowlen Rd #101b Beaumont, TX 77706 | (409) 899-3023 | — | 3.9 |
| 3295 College St Suite 400 Beaumont, TX 77701 | (409) 838-6447 | — | 5.0 |
| 860 S 11th St Ste 105 Beaumont, TX 77701 | (409) 832-2274 | — | 4.9 |
| 49 N 11th St Beaumont, TX 77702 | (409) 832-8243 | — | 5.0 |
| Western Finance 75 N 11th St Beaumont, TX 77702 | (409) 833-5956 | — | 4.9 |
More about Beaumont
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 Beaumont 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.