- Payday loans in Madison 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 5 miles away.
Madison at a glance
| Madison | |
|---|---|
| Population (2024 Census estimate) | 64,029 |
| Change since 2020 | +11.7% (growing fast) |
| Counties | Limestone County and Madison County |
| Size rank among 389 Alabama places we cover | 9th |
| Share of Alabama’s population | 1.2% |
| Nearest larger city | Huntsville (about 5 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in these counties | 4 |
| Other towns within 25 miles | 16 (about 360,114 residents) |
| Typical payday APR statewide (CRL 2023) | 456% |
Payday lending in Madison follows Alabama state law. Lenders that serve Madison, in a store or online, must be licensed by the Alabama State Banking Department.
Credit unions near Madison
No credit union has its main office in Madison, but these are based elsewhere in Limestone County (NCUA, June 2026):
- Redstone Federal Credit Union in Huntsville (federal charter — may offer payday alternative loans (PALs))
- Councill Federal Credit Union in Normal (federal charter — may offer payday alternative loans (PALs))
- Rocket City Federal Credit Union in Huntsville (federal charter — may offer payday alternative loans (PALs))
- North Alabama Educators Credit Union in Huntsville (state charter)
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.
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Payday loan rules that apply in Madison
The main Alabama rules for a payday loan in Madison: 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 Madison
The Center for Responsible Lending put the typical APR on a $400 payday loan in Alabama at 456% (June 2023). For $300 at the state maximum, expect $52.50 (17.5% fee). Check any offer with our payday loan calculator.
Other help in Limestone County before you borrow
- Call or text 211 for help with rent, utilities and food in Limestone 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 Madison
The nearest larger city is Huntsville, about 5 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 Madison?
Yes. Payday loans are legal in Madison under Alabama state law, and lenders must be licensed by the Alabama State Banking Department.
How much does a payday loan cost in Madison?
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 Madison?
No credit union is headquartered in Madison, but Redstone Federal Credit Union is based in Huntsville, also in Limestone County.
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