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 Vermont
13 credit unions are headquartered in Vermont, with 454,313 members in total. 5 are federal credit unions and 8 are state-chartered; all are federally insured by the NCUA.
- Credit unions
- 13
- Members
- 454,313
- Federal
- 5
- State-chartered
- 8
- Members per 100 people
- 70
- CUs per 100k people
- 2.0
Credit unions vs payday loan stores in Vermont
Vermont has 13 credit unions headquartered here, and we found no storefront payday loan chains. Local credit unions count 454,313 members — roughly 70 memberships per 100 residents.
Credit unions
13
2.0 per 100k residents
454,313 members
Payday & loan stores
0
0 store chains
Borrowing $500 for 6 months in Vermont
| Option | Payment | Total cost of borrowing |
|---|---|---|
| Installment loan at the Vermont rate cap (18% APR) | $87.76/mo | $26.58 |
| Credit union PAL (28% APR) | $90.27/mo | $41.62 |
| Payday loan renewed every 2 weeks (typical $15 per $100, not available in Vermont) | $75.00 every 2 weeks | $975.00 |
- Monthly payment at the Vermont rate cap vs median monthly household income
- 1.3%
Example calculation with fixed monthly payments; the payday row shows typical out-of-state pricing for comparison. Actual rates and terms vary by lender.
What it means for a household in Vermont
- Median household income
- $80,516
- A $400 emergency equals
- 1.8 days of income
- Households earning under $25,000
- 14.6%
- Residents below the poverty line
- 10.8%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Vermont are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Vermont
| Payday loan in VT | Credit union PAL | |
|---|---|---|
| Legal status | Not allowed — storefront payday loans are banned | Offered by many federal credit unions |
| Rate cap | Capped at 18% APR | 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: Vermont law as summarized on our Vermont 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 by city in Vermont
Credit unions are headquartered in 11 cities and towns across Vermont. Pick a city for addresses and websites, or scroll down for the smaller towns.
All credit unions in Vermont
| Credit union | Headquarters | Members | Website |
|---|---|---|---|
| Eastrise Federal Credit UnionFederal | Williston | 176,876 | eastrise.com |
| North Country Federal Credit UnionFederal | Burlington | 78,661 | northcountry.org |
| Vermont Federal Credit UnionFederal | So Burlington | 62,966 | vermontfederal.org |
| Heritage Family Federal Credit UnionFederal | Rutland | 54,726 | hfcuvt.org |
| 802 Credit UnionState-chartered | Barre | 42,126 | 802cu.com |
| One Credit UnionState-chartered | Springfield | 18,255 | onecu.org |
| Green Mountain Credit UnionState-chartered | South Burlingto | 10,123 | greenmountaincu.com |
| Northern Lights Federal Credit UnionFederal | Saint Johnsbury | 4,166 | northernlightscu.com |
| Members 1st Credit UnionState-chartered | Brattleboro | 2,111 | members1cu.com |
| Central Vermont Medical Center,Inc. Credit UnionState-chartered | Barre | 1,732 | uvmhealth.org |
| Orlex Government Employees Credit UnionState-chartered | Newport | 1,281 | northcountry.org |
| Northeast Schools and Hospital Credit UnionState-chartered | Newport | 1,000 | nshcu.virtualcu.net |
| St. Patrick's Parish Credit UnionState-chartered | Fairfield | 290 | stpatricksvt.org |
Credit unions in smaller towns of Vermont
Other cities and towns in Vermont where credit unions are headquartered, and how many there are in each.
- Barre 2
- Brattleboro 1
- Burlington 1
- Fairfield 1
- Newport 2
- Rutland 1
- Saint Johnsbury 1
- So Burlington 1
- South Burlingto 1
- Springfield 1
- Williston 1
Credit unions are listed in the city of their headquarters; many have branches in other cities and accept members from across the state or the country, so members per 100 people is an approximation.