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 Huntsville, TX
2 credit unions are headquartered in Huntsville, with 16,428 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
- 2
- Members
- 16,428
- Federal
- 1
- State-chartered
- 1
Credit unions vs payday loan stores in Huntsville
Huntsville has 8 payday, installment and title loan stores but only 2 credit unions headquartered here — about 4.0 loan stores for every credit union. Local credit unions count 16,428 members — roughly 23 memberships per 100 residents.
Credit unions
2
2.7 per 100k residents
16,428 members
Payday & loan stores
8
11.0 per 100k residents
7 store chains
Biggest loan store chains in Huntsville: Security Finance (2), 1st Franklin Financial (1), ACE Cash Express (1), Lendmark Financial Services (1), OneMain Financial (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 Huntsville
- Median household income
- $49,389
- Payday fee of $75, share of two weeks' income
- 3.9%
- Hours of work to pay the $75 fee
- 5.3 hours
- PAL payment of $174.50, share of monthly income
- 4.2%
- A $400 emergency equals
- 3.0 days of income
- Households earning under $25,000
- 23.8%
- Residents below the poverty line
- 18.2%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Huntsville 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 Huntsville
| Credit union | Address | Members | Website |
|---|---|---|---|
| Community Service Credit UnionState-chartered | 250 Fm 2821 Rd W Huntsville, TX 77320 | 11,379 | cscutx.com |
| Walker County Federal Credit UnionFederal | 1802 Normal Park Huntsville, TX 77340 | 5,049 | walkercountyfcu.com |
Payday and installment loan stores in Huntsville
For comparison: storefront payday, installment and title lenders in Huntsville 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 |
|---|---|---|---|
| 1206 Sam Houston Ave Huntsville, TX 77340 | (936) 291-2291 | — | 4.9 |
| 1329 University Ave D Huntsville, TX 77340 | (936) 295-9171 | — | 5.0 |
| 152 Col Etheredge Blvd Suite 407 Huntsville, TX 77340 | (936) 400-8955 | — | 4.9 |
| 3011 SH 30 Ste 204 Huntsville, TX 77340 | (936) 436-0100 | — | 4.9 |
| 3010 SH 30 Ste B Huntsville, TX 77340 | (936) 337-0064 | — | 4.9 |
| 3011 SH 30 W Ste 200-A Huntsville, TX 77340 | (936) 436-1912 | — | 3.9 |
|
Texas Car Title and Payday Loan Services
1 store in Huntsville
texascartitleandpaydayloanservicesinc.com
|
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| 919 11th St Huntsville, TX 77340 | (936) 294-0146 | — | 4.9 |
| Western Finance 1308 Sam Houston Ave STE A Huntsville, TX 77340 | (936) 291-7724 | — | 4.9 |
More about Huntsville
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 Huntsville 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.