- Payday loans in Cedar Falls follow Iowa law (Iowa delayed deposit services law (Iowa Code ch. 533D)).
- Borrowing $300 at the state maximum costs $35 on a $300 check.
- 2 credit unions are headquartered in Cedar Falls; ask about small-dollar loans before borrowing.
Cedar Falls at a glance
| Cedar Falls | |
|---|---|
| Population (2024 Census estimate) | 41,417 |
| Change since 2020 | +1.7% (growing) |
| County | Black Hawk County |
| Size rank among 609 Iowa places we cover | 14th |
| Share of Iowa’s population | 1.3% |
| Nearest larger city | Waterloo (about 6 miles) |
| Credit unions headquartered in town (NCUA) | 2 |
| Credit unions headquartered in Black Hawk County | 5 |
| Other towns within 25 miles | 28 (about 115,709 residents) |
| Typical payday APR statewide (CRL 2023) | 247% |
There is no separate Cedar Falls payday law: Iowa rules apply here, and any lender serving Cedar Falls residents, online or in person, needs a license from the Iowa Division of Banking.
Credit unions in Cedar Falls
These credit unions have their main office in Cedar Falls, according to NCUA call report data (June 2026):
- Unite Credit Union (state charter)
- Cedar Falls Community Credit Union (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 Cedar Falls
In short, Iowa rules that cover Cedar Falls include: maximum: checks totaling $500 or less, including fees; maximum fee: $15 on the first $100, $10 on each additional $100; loan term: up to 31 days. See the full Iowa payday loan rules.
What a $300 loan costs in Cedar Falls
The Center for Responsible Lending put the typical APR on a $400 payday loan in Iowa at 247% (June 2023). For $300 at the state maximum, expect $35 on a $300 check. Check any offer with our payday loan calculator.
Other help in Black Hawk County before you borrow
Before a payday loan, Cedar Falls residents can usually find something cheaper:
- Local assistance through 211 covering Black Hawk 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 Cedar Falls
The nearest larger city is Waterloo, about 6 miles away. See all 609 Iowa 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 Cedar Falls?
Yes. Payday loans are legal in Cedar Falls under Iowa state law, and lenders must be licensed by the Iowa Division of Banking.
How much does a payday loan cost in Cedar Falls?
At Iowa’s maximum fee, borrowing $300 costs $35 on a $300 check. The typical statewide APR was 247% in 2023.
Are there credit unions in Cedar Falls?
Yes. NCUA data lists 2 credit unions with a main office in Cedar Falls, including Unite Credit Union and Cedar Falls Community Credit Union.
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)
- Iowa Division of Banking — Delayed deposit services history
- Iowa Administrative Code ch. 17 — Delayed deposit services
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary