- Payday loans in Cedar Rapids follow Iowa law (Iowa delayed deposit services law (Iowa Code ch. 533D)).
- Borrowing $300 at the state maximum costs $35 on a $300 check.
- 6 credit unions are headquartered in Cedar Rapids; ask about small-dollar loans before borrowing.
Cedar Rapids at a glance
| Cedar Rapids | |
|---|---|
| Population (2024 Census estimate) | 137,904 |
| Change since 2020 | 0% (holding steady) |
| County | Linn County |
| Size rank among 609 Iowa places we cover | 2nd |
| Share of Iowa’s population | 4.3% |
| Nearest larger city | Des Moines (about 103 miles) |
| Credit unions headquartered in town (NCUA) | 6 |
| Credit unions headquartered in Linn County | 7 |
| Other towns within 25 miles | 37 (about 233,668 residents) |
| Typical payday APR statewide (CRL 2023) | 247% |
Payday lending in Cedar Rapids follows Iowa state law. Lenders that serve Cedar Rapids, in a store or online, must be licensed by the Iowa Division of Banking.
Credit unions in Cedar Rapids
These credit unions have their main office in Cedar Rapids, according to NCUA call report data (June 2026):
- Metco Credit Union (state charter)
- Collins Community Credit Union (state charter)
- Corda Credit Union (state charter)
- Quaker Oats Credit Union (state charter)
- St. Ludmila S Credit Union (state charter)
- Teamsters Local #238 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 Rapids
| Rule | Iowa |
|---|---|
| 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 |
| Checks at once | Up to two per lender |
What a $300 loan costs in Cedar Rapids
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 Linn County before you borrow
- Call or text 211 for help with rent, utilities and food in Linn County.
- Ask a federal credit union about a PAL: $200–$2,000 at no more than 28% APR (how PALs work).
- Check your bank app for a small-dollar loan or early pay (bank options).
- Try a cash advance app if you have direct deposit (apps compared).
Towns near Cedar Rapids
The nearest larger city is Des Moines, about 103 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 Rapids?
Yes. Payday loans are legal in Cedar Rapids under Iowa state law, and lenders must be licensed by the Iowa Division of Banking.
How much does a payday loan cost in Cedar Rapids?
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 Rapids?
Yes. NCUA data lists 6 credit unions with a main office in Cedar Rapids, including Metco Credit Union and Collins 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