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 Wausau, WI
5 credit unions are headquartered in Wausau, with 447,111 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
- 5
- Members
- 447,111
- Federal
- 0
- State-chartered
- 5
Credit unions vs payday loan stores in Wausau
Wausau has 6 payday, installment and title loan stores but only 5 credit unions headquartered here — about 1.2 loan stores for every credit union. Local credit unions count 447,111 members — roughly 793 memberships per 100 residents.
Credit unions
5
8.9 per 100k residents
447,111 members
Payday & loan stores
6
10.6 per 100k residents
6 store chains
Biggest loan store chains in Wausau: Cash Store (1), Check 'n Go (1), Dollar Loan Center (1), OneMain Financial (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 Wausau
- Median household income
- $67,991
- Payday fee of $75, share of two weeks' income
- 2.9%
- Hours of work to pay the $75 fee
- 4.1 hours
- PAL payment of $174.50, share of monthly income
- 3.1%
- A $400 emergency equals
- 2.1 days of income
- Households earning under $25,000
- 14.9%
- Residents below the poverty line
- 11.7%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Wausau 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 Wausau
| Credit union | Address | Members | Website |
|---|---|---|---|
| Connexus Credit UnionState-chartered | PO Box 8026 Wausau, WI 54402 | 425,699 | connexuscu.org |
| Cloverbelt Credit UnionState-chartered | PO Box 659 Wausau, WI 54402 | 16,292 | ccuwausau.com |
| Marathon County Employees Credit UnionState-chartered | 400 E Thomas St Wausau, WI 54403 | 2,826 | mcecu.org |
| M.E. Employees Credit UnionState-chartered | 111 E Randolph St Wausau, WI 54401 | 1,306 | meecu.org |
| Public Service Credit UnionState-chartered | PO Box 1854 Wausau, WI 54402 | 988 | publicservicecu.org |
Payday and installment loan stores in Wausau
For comparison: storefront payday, installment and title lenders in Wausau 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 |
|---|---|---|---|
| 306 S 17th Ave Ste D Wausau, WI 54401 | (715) 841-1770 | — | 4.8 |
| 605 S 24th Ave Suite 32 Wausau, WI 54401 | (715) 849-4444 | — | 5.0 |
| 2220 Grand Ave Wausau, WI 54403 | (715) 393-8848 | — | 4.4 |
| 151516 County Rd NN Wausau, WI 54401 | (715) 845-7227 | — | 3.9 |
| 330 Grand Ave Ste 106 Wausau, WI 54403 | (715) 849-1888 | — | 4.6 |
| 2200 Grand Ave Wausau, WI 54403 | (715) 230-2040 | — | 4.9 |
More about Wausau
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 Wausau 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.