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 La Crosse, WI
4 credit unions are headquartered in La Crosse, with 86,504 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
- 4
- Members
- 86,504
- Federal
- 0
- State-chartered
- 4
Credit unions vs payday loan stores in La Crosse
La Crosse has 4 payday, installment and title loan stores but only 4 credit unions headquartered here — about 1.0 loan stores for every credit union. Local credit unions count 86,504 members — roughly 134 memberships per 100 residents.
Credit unions
4
6.2 per 100k residents
86,504 members
Payday & loan stores
4
6.2 per 100k residents
4 store chains
Biggest loan store chains in La Crosse: Check 'n Go (1), Lendmark Financial Services (1), Mariner Finance (1), Security Finance (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 La Crosse
- Median household income
- $57,800
- Payday fee of $75, share of two weeks' income
- 3.4%
- Hours of work to pay the $75 fee
- 4.9 hours
- PAL payment of $174.50, share of monthly income
- 3.6%
- A $400 emergency equals
- 2.5 days of income
- Households earning under $25,000
- 20.2%
- Residents below the poverty line
- 19.0%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for La Crosse 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 La Crosse
| Credit union | Address | Members | Website |
|---|---|---|---|
| Marine Credit UnionState-chartered | 300 2nd St N Ste 400 La Crosse, WI 54601 | 74,860 | marinecu.com |
| Governmental Employees Credit UnionState-chartered | 225 La Crosse St La Crosse, WI 54601 | 6,759 | gecuwi.com |
| Gundersen Credit UnionState-chartered | 1910 South Ave La Crosse, WI 54601 | 3,677 | gundersencu.org |
| Dairyland Power Credit UnionState-chartered | 3200 East Avenue South La Crosse, WI 54601 | 1,208 | dairylandpower.com |
Payday and installment loan stores in La Crosse
For comparison: storefront payday, installment and title lenders in La Crosse 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 |
|---|---|---|---|
| 4304 Mormon Coulee Rd La Crosse, WI 54601 | (608) 787-1169 | — | 4.8 |
| 40 Copeland Ave ste 109 b La Crosse, WI 54603 | (608) 668-2425 | — | 4.9 |
| 1423 WI-16 La Crosse, WI 54601 | (608) 781-5721 | — | 4.8 |
| 4012 Mormon Coulee Rd La Crosse, WI 54601 | (608) 796-2009 | — | 4.9 |
More about La Crosse
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 La Crosse 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.