Credit Unions vs Payday Loans in Wisconsin

99 credit unions are headquartered in Wisconsin, with 3,909,657 members in total. 2 are federal credit unions and 97 are state-chartered; all are federally insured by the NCUA.

Credit unions

99

Members

3.9M

Federal

2

State-chartered

97

Members per 100 people

66

CUs per 100k people

1.7

Credit unions vs payday loan stores in Wisconsin

Wisconsin has 230 payday, installment and title loan stores but only 99 credit unions headquartered here — about 2.3 loan stores for every credit union. Local credit unions count 3,909,657 members — roughly 66 memberships per 100 residents.

Biggest loan store chains in Wisconsin: Security Finance (44), Check 'n Go (41), OneMain Financial (28), Cash Store (23), Dollar Loan Center (19).

What a $500 loan costs over 3 months

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 (WI 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 Wisconsin

Median household income

$78,208

Payday fee of $75, share of two weeks' income

2.5%

Hours of work to pay the $75 fee

3.7 hours

PAL payment of $174.50, share of monthly income

2.7%

A $400 emergency equals

1.9 days of income

Households earning under $25,000

13.5%

Residents below the poverty line

10.8%

Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Wisconsin are population-weighted and approximate. Hours of work are based on the median individual income.

Payday loans vs credit union PALs: the rules in Wisconsin

Payday rules: Wisconsin law as summarized on our Wisconsin 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 Wisconsin

Credit unions are headquartered in 59 cities and towns across Wisconsin. Pick a city for addresses and websites, or scroll down for the smaller towns.

• Madison · 6
• Milwaukee · 5
• Wausau · 5
• Green Bay · 4
• La Crosse · 4
• Oshkosh · 4
• Appleton · 3
• Racine · 3
• Sheboygan · 3
• Fond Du Lac · 2
• Kenosha · 2
• Eau Claire · 1
• Janesville · 1
• Waukesha · 1

All credit unions in Wisconsin

Credit unions in smaller towns of Wisconsin

Other cities and towns in Wisconsin where credit unions are headquartered, and how many there are in each.

• Antigo 1
• Arcadia 1
• Athens 1
• Beloit 2
• Black River Fal 1
• Brantwood 1
• Brookfield 1
• Cudahy 1
• Fort Atkinson 1
• Hayward 1
• Hurley 1
• Jefferson 2
• Kaukauna 1
• Manitowoc 2
• Marinette 2
• Marshfield 3
• Medford 1
• Menomonee Falls 1
• Menomonie 1
• Merrill 1
• Mosinee 1
• Neenah 2
• New Holstein 1
• Niagara 1
• Oak Creek 1
• Oakdale 1
• Oconto Falls 1
• Onalaska 2
• Park Falls 1
• Plover 1
• Rhinelander 1
• Rib Lake 1
• Ripon 1
• Sheboygan Falls 1
• Sparta 1
• Spooner 1
• Stevens Point 1
• Superior 3
• Tomah 1
• Two Rivers 1
• Waterloo 1
• West Bend 1
• Westby 1
• Weston 1
• Wisconsin Rapid 1