- Payday loans in Hanover follow Indiana law (Indiana Small Loan law (IC 24-4.5-7)).
- Borrowing $300 at the state maximum costs $44.
- The nearest larger city is Jeffersonville, about 29 miles away.
Hanover at a glance
| Hanover | |
|---|---|
| Population (2024 Census estimate) | 3,827 |
| Change since 2020 | +2.3% (growing) |
| County | Jefferson County |
| Size rank among 482 Indiana places we cover | 143rd |
| Nearest larger city | Jeffersonville (about 29 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Jefferson County | 2 |
| Other towns within 25 miles | 8 (about 42,418 residents) |
| Typical payday APR statewide (CRL 2023) | 372% |
There is no separate Hanover payday law: Indiana rules apply here, and any lender serving Hanover residents, online or in person, needs a license from the Indiana Department of Financial Institutions.
Credit unions near Hanover
No credit union has its main office in Hanover, but these are based elsewhere in Jefferson County (NCUA, June 2026):
- Clifty Creek Employees Federal Credit Union in Madison (federal charter — may offer payday alternative loans (PALs))
- Jefferson Community Federal Credit Union in Madison (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 Hanover
In short, Indiana rules that cover Hanover include: 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. See the full Indiana payday loan rules.
What a $300 loan costs in Hanover
At Indiana’s maximum fee, borrowing $300 costs $44. Statewide, the typical APR on a $400 payday loan was 372% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Jefferson County before you borrow
Before a payday loan, Hanover residents can usually find something cheaper:
- Local assistance through 211 covering Jefferson 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 Hanover
The nearest larger city is Jeffersonville, about 29 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 Hanover?
Yes. Payday loans are legal in Hanover under Indiana state law, and lenders must be licensed by the Indiana Department of Financial Institutions.
How much does a payday loan cost in Hanover?
At Indiana’s maximum fee, borrowing $300 costs $44. The typical statewide APR was 372% in 2023.
Where is the nearest credit union to Hanover?
No credit union is headquartered in Hanover, but Clifty Creek Employees Federal Credit Union is based in Madison, also in Jefferson 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)
- 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