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 San Angelo, TX
6 credit unions are headquartered in San Angelo, with 38,471 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
- 38,471
- Federal
- 4
- State-chartered
- 2
Credit unions vs payday loan stores in San Angelo
San Angelo has 15 payday, installment and title loan stores but only 6 credit unions headquartered here — about 2.5 loan stores for every credit union. Local credit unions count 38,471 members — roughly 34 memberships per 100 residents.
Credit unions
6
5.3 per 100k residents
38,471 members
Payday & loan stores
15
13.2 per 100k residents
10 store chains
Biggest loan store chains in San Angelo: Cash Store (3), ACE Cash Express (2), Security Finance (2), Western Shamrock Finance (2), Advance America (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 San Angelo
- Median household income
- $67,211
- Payday fee of $75, share of two weeks' income
- 2.9%
- Hours of work to pay the $75 fee
- 4.4 hours
- PAL payment of $174.50, share of monthly income
- 3.1%
- A $400 emergency equals
- 2.2 days of income
- Households earning under $25,000
- 16.7%
- Residents below the poverty line
- 11.7%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for San Angelo 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 San Angelo
| Credit union | Address | Members | Website |
|---|---|---|---|
| 1st Community Federal Credit UnionFederal | 3505 Wildewood Dr San Angelo, TX 76904 | 23,575 | 1cfcu.org |
| Concho Educators Federal Credit UnionFederal | PO Box 60976 San Angelo, TX 76906 | 6,702 | conchoeducators.org |
| San Angelo Federal Credit UnionFederal | 235 W 1st St San Angelo, TX 76903 | 3,903 | safcu.com |
| Trans Texas Southwest Credit UnionState-chartered | 3401 Loop 306 San Angelo, TX 76904 | 2,516 | transtexas.coop |
| Concho Valley Credit UnionState-chartered | 1002 S Abe St San Angelo, TX 76903 | 1,425 | conchovalleycu.com |
| Goodyear San Angelo Federal Credit UnionFederal | PO Box 232 San Angelo, TX 76902 | 350 | gysafcu.com |
Payday and installment loan stores in San Angelo
For comparison: storefront payday, installment and title lenders in San Angelo 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 |
|---|---|---|---|
| 202 N Koenigheim St Ste B San Angelo, TX 76903 | (325) 486-9484 | — | 5.0 |
| 3204 Sherwood Way Ste B San Angelo, TX 76901 | (325) 223-2520 | — | 5.0 |
| 3351 Knickerbocker Rd San Angelo, TX 76904 | (325) 949-3849 | — | 4.6 |
| 2202 N Chadbourne St San Angelo, TX 76903 | (325) 657-0610 | — | 4.8 |
| 3337 Sherwood Way San Angelo, TX 76901 | (325) 944-3504 | — | 4.4 |
| 208 S Irving St San Angelo, TX 76903 | (325) 658-5858 | — | 4.5 |
| 3810 Sherwood Way San Angelo, TX 76901 | (325) 944-8694 | — | 4.1 |
| Western Finance 2401 Sherwood Way San Angelo, TX 76901 | (325) 949-3435 | — | 5.0 |
| 801 S Abe St # 2-A San Angelo, TX 76903 | (325) 653-6814 | — | 2.5 |
| 4548 Sherwood Way San Angelo, TX 76901 | (325) 949-1472 | Mon–Fri 10:00 AM – 6:00 PM Sat 10:00 AM – 3:00 PM Sun closed |
— |
| 3224 Sherwood Way San Angelo, TX 76901 | (325) 224-3283 | — | 3.9 |
| 3732 Sherwood Way San Angelo, TX 76901 | (325) 947-2377 | — | 4.1 |
| 2030 W Harris Ave San Angelo, TX 76901 | (325) 653-7100 | — | 4.9 |
|
Texas Car Title and Payday Loan Services
1 store in San Angelo
texascartitleandpaydayloanservicesinc.com
|
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| 2406 Sherwood Way San Angelo, TX 76901 | (325) 224-3000 | — | 4.9 |
| 1718 S Bryant Blvd San Angelo, TX 76903 | (325) 655-7809 | — | 5.0 |
More about San Angelo
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 San Angelo 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.