- Payday loans in Powell 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 Gadsden, about 37 miles away.
Powell at a glance
| Powell | |
|---|---|
| Population (2024 Census estimate) | 929 |
| Change since 2020 | +2.2% (growing) |
| County | DeKalb County |
| Size rank among 389 Alabama places we cover | 266th |
| Nearest larger city | Gadsden (about 37 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in DeKalb County | 1 |
| Other towns within 25 miles | 27 (about 67,462 residents) |
| Typical payday APR statewide (CRL 2023) | 456% |
There is no separate Powell payday law: Alabama rules apply here, and any lender serving Powell residents, online or in person, needs a license from the Alabama State Banking Department.
Credit unions near Powell
No credit union has its main office in Powell, but these are based elsewhere in DeKalb County (NCUA, June 2026):
- Nucor Employees Federal Credit Union in Fort Payne (federal charter — may offer payday alternative loans (PALs))
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 Powell
In short, Alabama rules that cover Powell include: 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 Powell
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 DeKalb County before you borrow
Before a payday loan, Powell residents can usually find something cheaper:
- Local assistance through 211 covering DeKalb County.
- A credit union payday alternative loan (max 28% APR). See PALs explained.
- Your bank’s small-dollar loan, if offered (compare banks).
- A cash advance app for $20–$500 (apps compared).
Towns near Powell
The nearest larger city is Gadsden, about 37 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 Powell?
Yes. Payday loans are legal in Powell under Alabama state law, and lenders must be licensed by the Alabama State Banking Department.
How much does a payday loan cost in Powell?
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 Powell?
No credit union is headquartered in Powell, but Nucor Employees Federal Credit Union is based in Fort Payne, also in DeKalb 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