- Payday loans in Cinco Bayou follow Florida law (Florida Statutes s. 560.404 (deferred presentment)).
- Borrowing $300 at the state maximum costs $30 (10% fee) plus a small verification fee.
- The nearest larger city is Crestview, about 23 miles away.
Cinco Bayou at a glance
| Cinco Bayou | |
|---|---|
| Population (2024 Census estimate) | 468 |
| Change since 2020 | +2% (growing) |
| County | Okaloosa County |
| Size rank among 393 Florida places we cover | 376th |
| Nearest larger city | Crestview (about 23 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Okaloosa County | 2 |
| Other towns within 25 miles | 7 (about 93,504 residents) |
| Typical payday APR statewide (CRL 2023) | 293% |
Whether you borrow at a storefront in Crestview or online from Cinco Bayou, the lender must hold a Florida license from the Florida Office of Financial Regulation and follow state limits.
Credit unions near Cinco Bayou
No credit union has its main office in Cinco Bayou, but these are based elsewhere in Okaloosa County (NCUA, June 2026):
- Eglin Federal Credit Union in Fort Walton Bea (federal charter — may offer payday alternative loans (PALs))
- Okaloosa County Teachers Federal Credit Union in Crestview (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 Cinco Bayou
Key Florida limits that apply to Cinco Bayou borrowers: maximum loan: $500 (single-payment); $1,000 for installment deferred presentment; maximum fee: 10% of the amount provided, plus a verification fee; loan term: 7 to 31 days (installment: 60 to 90 days). See the full Florida payday loan rules.
What a $300 loan costs in Cinco Bayou
At Florida’s maximum fee, borrowing $300 costs $30 (10% fee) plus a small verification fee. Statewide, the typical APR on a $400 payday loan was 293% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Okaloosa County before you borrow
- Credit union payday alternative loans (PALs): $200–$2,000 at no more than 28% APR. Search for a federal credit union in Cinco Bayou that offers them. See how PALs work.
- Your bank’s small-dollar loan, if it offers one. See bank small-dollar loans.
- Cash advance apps for $20–$500 based on your direct deposits. See apps compared.
- 211: call or text 211 for local help with rent, utilities and food.
Towns near Cinco Bayou
- Fort Walton Beach · 1 mi
- Shalimar · 2 mi
- Mary Esther · 3 mi
- Valparaiso · 7 mi
- Destin · 8 mi
- Niceville · 11 mi
The nearest larger city is Crestview, about 23 miles away. See all 393 Florida 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 Cinco Bayou?
Yes. Payday loans are legal in Cinco Bayou under Florida state law, and lenders must be licensed by the Florida Office of Financial Regulation.
How much does a payday loan cost in Cinco Bayou?
At Florida’s maximum fee, borrowing $300 costs $30 (10% fee) plus a small verification fee. The typical statewide APR was 293% in 2023.
Where is the nearest credit union to Cinco Bayou?
No credit union is headquartered in Cinco Bayou, but Eglin Federal Credit Union is based in Fort Walton Bea, also in Okaloosa 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)
- Florida Statutes s. 560.404
- Florida OFR — Payday lenders
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary