- Payday loans in Cherokee Ridge follow Alabama law (Alabama Deferred Presentment Services Act).
- Borrowing $300 at the state maximum costs $52.50 (17.5% fee).
- The nearest larger city is Huntsville, about 20 miles away.
Cherokee Ridge at a glance
| Cherokee Ridge | |
|---|---|
| Population (2024 Census estimate) | 332 |
| Change since 2020 | +2.5% (growing) |
| County | Marshall County |
| Size rank among 389 Alabama places we cover | 367th |
| Nearest larger city | Huntsville (about 20 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Other towns within 25 miles | 25 (about 399,452 residents) |
| Typical payday APR statewide (CRL 2023) | 456% |
Payday lending in Cherokee Ridge follows Alabama state law. Lenders that serve Cherokee Ridge, in a store or online, must be licensed by the Alabama State Banking Department.
Credit unions near Cherokee Ridge
NCUA data (June 2026) shows no credit union headquartered in Cherokee Ridge or Marshall County. Many credit unions have branches in other towns or accept members online. Use the NCUA’s Credit Union Locator to find one near you.
Only federal credit unions can offer payday alternative loans (PALs), capped at 28% APR; state-chartered credit unions often have their own small-loan products. Membership rules apply, and only main offices are listed here; find branches near you with the NCUA Credit Union Locator. See how PALs work.
Payday loan rules that apply in Cherokee Ridge
The main Alabama rules for a payday loan in Cherokee Ridge: maximum loan: $500 outstanding in total (checked through a statewide database); maximum fee: 17.5% of the amount advanced; loan term: 10 to 31 days. See the full Alabama payday loan rules.
What a $300 loan costs in Cherokee Ridge
At Alabama’s maximum fee, borrowing $300 costs $52.50 (17.5% fee). Statewide, the typical APR on a $400 payday loan was 456% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Marshall County before you borrow
- Call or text 211 for help with rent, utilities and food in Marshall County.
- Ask a federal credit union about a PAL: $200–$2,000 at no more than 28% APR (how PALs work).
- Check your bank app for a small-dollar loan or early pay (bank options).
- Try a cash advance app if you have direct deposit (apps compared).
Towns near Cherokee Ridge
The nearest larger city is Huntsville, about 20 miles away. See all 389 Alabama cities.
Need cash before payday?Send one free request to our lender network. We are not a lender; offers and rates come from lenders.
Request a loanFrequently asked questions
Are payday loans legal in Cherokee Ridge?
Yes. Payday loans are legal in Cherokee Ridge under Alabama state law, and lenders must be licensed by the Alabama State Banking Department.
How much does a payday loan cost in Cherokee Ridge?
At Alabama’s maximum fee, borrowing $300 costs $52.50 (17.5% fee). The typical statewide APR was 456% in 2023.
Where is the nearest credit union to Cherokee Ridge?
NCUA data shows no credit union headquartered in Cherokee Ridge or its county. Use the NCUA credit union locator to find branches and online credit unions.
Sources
- U.S. Census Bureau — City and town population totals, Vintage 2024
- U.S. Census Bureau — 2024 Gazetteer files (place locations)
- NCUA — Credit union call report data, June 2026 (FOICU)
- NCLC — Consumer Credit Regulation: Alabama
- Lexology — Alabama establishes payday loan database
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary