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 Kenosha, WI
2 credit unions are headquartered in Kenosha, with 10,795 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
- 10,795
- Federal
- 0
- State-chartered
- 2
Credit unions vs payday loan stores in Kenosha
Kenosha has 9 payday, installment and title loan stores but only 2 credit unions headquartered here — about 4.5 loan stores for every credit union. Local credit unions count 10,795 members — roughly 10 memberships per 100 residents.
Credit unions
2
1.8 per 100k residents
10,795 members
Payday & loan stores
9
8.0 per 100k residents
9 store chains
Biggest loan store chains in Kenosha: Advance America (1), Cash Store (1), Check 'n Go (1), Check Into Cash (1), Dollar Loan Center (1).
What a $500 loan costs over 3 months
| Option | Payment | Total cost |
|---|---|---|
| Payday loan, re-borrowed 6 times (~574%+ 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 (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 Kenosha
- Median household income
- $71,200
- Payday fee of $75, share of two weeks' income
- 2.7%
- Hours of work to pay the $75 fee
- 4.0 hours
- PAL payment of $174.50, share of monthly income
- 2.9%
- A $400 emergency equals
- 2.1 days of income
- Households earning under $25,000
- 15.0%
- Residents below the poverty line
- 13.4%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Kenosha 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 loan in WI | Credit union PAL | |
|---|---|---|
| Legal status | Allowed | Offered by many federal credit unions |
| Loan amount | No state limit | $200 – $2,000 |
| Fee limit | No strict state limit (N/A) | Application fee up to $20 |
| Typical APR | ~574%+ | 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: 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 headquartered in Kenosha
| Credit union | Address | Members | Website |
|---|---|---|---|
| Southern Lakes Credit UnionState-chartered | 3000 80th Street Kenosha, WI 53142 | 9,683 | southernlakescu.org |
| Kenosha Police and Firemen's Credit UnionState-chartered | 625 52nd St Kenosha, WI 53140 | 1,112 | — |
Payday and installment loan stores in Kenosha
For comparison: storefront payday, installment and title lenders in Kenosha 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 |
|---|---|---|---|
| 5604 75th Street Kenosha, WI 53142 | (262) 697-6298 | Mon–Fri 9:00 AM – 5:30 PM Sat–Sun closed |
— |
| 7224 118th Ave Ste J Kenosha, WI 53142 | (262) 857-3021 | — | 4.9 |
| 6019 Sheridan Rd Kenosha, WI 53143 | (262) 653-8888 | — | 5.0 |
| 3466 52nd St Kenosha, WI 53144 | (262) 653-9600 | — | 4.5 |
| 2047 22nd Ave Kenosha, WI 53140 | (262) 297-7511 | — | 5.0 |
| 3620 57th Ave Ste 300 Kenosha, WI 53144 | (262) 358-4550 | — | 4.7 |
| 5901 75th St #160 Kenosha, WI 53142 | (262) 697-0869 | — | 3.6 |
| 4217 75th St Kenosha, WI 53142 | (262) 948-8000 | — | 4.9 |
| 3910 75th St #102 Kenosha, WI 53142 | (262) 200-0551 | — | 4.9 |
More about Kenosha
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 Kenosha 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.