- Payday loans in Evansville follow Indiana law (Indiana Small Loan law (IC 24-4.5-7)).
- Borrowing $300 at the state maximum costs $44.
- 5 credit unions are headquartered in Evansville; ask about small-dollar loans before borrowing.
Evansville at a glance
| Evansville | |
|---|---|
| Population (2024 Census estimate) | 115,395 |
| Change since 2020 | -1.7% (shrinking) |
| County | Vanderburgh County |
| Size rank among 482 Indiana places we cover | 3rd |
| Share of Indiana’s population | 1.7% |
| Nearest larger city | Indianapolis (about 144 miles) |
| Credit unions headquartered in town (NCUA) | 5, 5 federal |
| Credit unions headquartered in Vanderburgh County | 5 |
| Other towns within 25 miles | 15 (about 32,381 residents) |
| Typical payday APR statewide (CRL 2023) | 372% |
There is no separate Evansville payday law: Indiana rules apply here, and any lender serving Evansville residents, online or in person, needs a license from the Indiana Department of Financial Institutions.
Credit unions in Evansville
These credit unions have their main office in Evansville, according to NCUA call report data (June 2026):
- Evansville Firefighters Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Liberty Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Sterling United Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Diamond Valley Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Evansville Federal Credit Union (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 Evansville
| Rule | Indiana |
|---|---|
| Maximum loan | $605, and no more than 20% of your gross monthly income |
| Maximum fee | 15% of the first $250, 13% of $251–$400, 10% of $401–$605 |
| Minimum term | 14 days |
| Loans at once | Two, tracked in a statewide database |
What a $300 loan costs in Evansville
The Center for Responsible Lending put the typical APR on a $400 payday loan in Indiana at 372% (June 2023). For $300 at the state maximum, expect $44. Check any offer with our payday loan calculator.
Other help in Vanderburgh County before you borrow
Before a payday loan, Evansville residents can usually find something cheaper:
- Local assistance through 211 covering Vanderburgh 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 Evansville
The nearest larger city is Indianapolis, about 144 miles away. See all 482 Indiana 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 Evansville?
Yes. Payday loans are legal in Evansville under Indiana state law, and lenders must be licensed by the Indiana Department of Financial Institutions.
How much does a payday loan cost in Evansville?
At Indiana’s maximum fee, borrowing $300 costs $44. The typical statewide APR was 372% in 2023.
Are there credit unions in Evansville?
Yes. NCUA data lists 5 credit unions with a main office in Evansville, including Evansville Firefighters Federal Credit Union and Liberty Federal Credit Union. Federal credit unions can offer payday alternative loans capped at 28% APR.
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)
- Indiana DFI — Small loan law borrower rights
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary