Alabama Residents, Say No to Pay Day Loans. Credit unions is an alternative that is great payday advances.

Alabama Residents, Say No to Pay Day Loans. Credit unions is an alternative that is great payday advances.

If you’re in Alabama and considering a pay day loan, reconsider that thought.

Pay day loans are short-term loans that trap customers in a financial obligation period money mart loans loans with a high interest levels and repayment that is unforgiving.

The interest rate on that loan can reach 461% annually, which is among the highest rates in the country, according to a study by the Pew Charitable Trusts if a two-week payday loan is not paid off on time in Alabama. This implies you might find yourself spending $461 in yearly costs for a loan that has been initially $100.

These lenders that are predatory discovered through the entire state, which includes 967 more pay day loan storefronts than McDonald’s restaurants.

NerdWallet is starting out in its academic campaign against predatory financing and it is dealing with the Gateway Foundation and Alabama Appleseed to present Alabama customers with options to payday advances.

Prior to taking down a quick payday loan, contact Gateway first: Its program, Gateway Financial Freedom, provides you with private, specific advice about financial obligation administration, budgeting, and mortgage and counseling that is foreclosure.

They protect customers by providing reduced interest prices and longer payment durations. They’re also more lenders that are flexible it works along with their clients to assist them to handle their cash.

Keep in mind that you need to be a part of many credit unions to use for their loans. The price of account differs from ten dollars to $35, a good investment that may help save you hundreds or 1000s of dollars compared to typical loan that is payday. We’ve discovered that numerous credit unions provide short-term loans with yearly percentage prices (APRs) ranging between 6% and 23%, you should contact specific loan providers for the many present information on short-term loan provides.

Here are a few lenders that are alternative Alabama, put together and suggested by Alabama Appleseed:

Alexander City

1030 Lee St.; (256) 234-3821

Birmingham Metro

4933 Promenade Pkwy. #113; (205) 226-3944

1808 2nd Ave. S; (205) 956-0678

City of Birmingham

7400 London Ave.; (205) 833-3556

750 17th St. N; (205) 226-6800

613 St that is 19th; (205) 985-2828

1400 S. St. this is certainly 20th;205) 933-9933

2725 35th Ave N; (205) 520-2115

5705 Valley Rd.; (205) 783-9100

524 Red Lane Rd. #B; (205) 838-2466

1819 twentieth Street Ensley; 205-781-4220

5401 E. Lake Blvd.; (205) 841-4525

Brewton

2549 Southern Blvd.; (251) 867-3162

Daleville

467 S. Daleville Ave., PO Box 366; (800) 343-9933

Decatur

3048 Finley Island Circle; (256) 351-7880

2328 Aim Mallard Dr. SE; (256) 353-3616

2505 Highway 31 Southern; (256) 355-5010

Dothan

123 S Woodburn Dr.; (334) 671-1890

411 North Foster St.; (334) 793-7714

326 Honeysuckle Rd.; (334) 793-3667

3116 Ross Clark Circle; (334) 792-3306

2220 Montgomery Highway; (334) 793-7226

Gadsden

702 Walnut St.; (256) 543-7040

110 S. 26th St.; (256) 543-7302

Huntsville

2309 Whitesburg Dr. S; (256) 534-2423

220 Wynn Dr. NW; (800) 234-1234

2200 Clinton Ave.; (256) 533-0541

Mobile

6320 Airport Blvd.; (251) 316-3240

103 Hillcrest Rd.; (251) 706-0255

1001 Springhill Ave.; (251) 438-7464

3150 Airport Blvd.; (251) 473-4712

1175-A Hillcrest Rd., Suite 7; (800) 344-3281

109 St. Joseph St.; (251) 694-4100

5 circle that is infirmary (251) 435-5900

Montgomery

1000 Interstate Park Drive; (334) 270-9011

345 Perry Hill Rd.; (334) 272-7790

2767 Eastern Blvd.; (888) 842-6328

244 Dexter Ave.; (334) 834-5144

2914 Chestnut St.; (334) 263-7077

616 Madison Ave.; (334) 242-5484

400 Arba St.; (334) 834-7483

330 Eastdale Circle; (334) 270-5532

340 TechnaCenter Drive; (334) 215-7328

Strength Shoals

4790 E. 2nd St.; (256) 383-9204

TVA Reservation; (256) 386-3000

200 E. 6th St.; (256) 381-3335

Opelika

2915 Pepperell Pkwy.; (334) 745-4711

Selma

198 Highland Ave.; (334) 872-9096

Tuscaloosa

220 Paul W. Bryant Drive East; (205) 348-5944

2520 6th St.; (205) 759-1505

2302 Jack Warner Pkwy. NE; (205) 349-4209

Tuscumbia

200 E. 6th St.; (256) 381-4800

Tuskegee

304 W. Montgomery Rd.; (334) 727-3180

Near you, try using this tool to locate the nearest institution if you’re not from Alabama and need to find a credit union. Go to the sites of specific credit unions for more information on their small-dollar loan choices, and check NerdWallet for updates on options various other states.