- Payday loans in Otho follow Iowa law (Iowa delayed deposit services law (Iowa Code ch. 533D)).
- Borrowing $300 at the state maximum costs $35 on a $300 check.
- The nearest larger city is Ames, about 38 miles away.
Otho at a glance
| Otho | |
|---|---|
| Population (2024 Census estimate) | 417 |
| Change since 2020 | -2.1% (shrinking) |
| County | Webster County |
| Size rank among 609 Iowa places we cover | 479th |
| Nearest larger city | Ames (about 38 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Webster County | 2 |
| Other towns within 25 miles | 19 (about 51,658 residents) |
| Typical payday APR statewide (CRL 2023) | 247% |
Payday lending in Otho follows Iowa state law. Lenders that serve Otho, in a store or online, must be licensed by the Iowa Division of Banking.
Credit unions near Otho
No credit union has its main office in Otho, but these are based elsewhere in Webster County (NCUA, June 2026):
- Fort Dodge Family Credit Union in Fort Dodge (state charter)
- Citizens Community Credit Union in Fort Dodge (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.
Payday loan rules that apply in Otho
The main Iowa rules for a payday loan in Otho: 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 Otho
At Iowa’s maximum fee, borrowing $300 costs $35 on a $300 check. Statewide, the typical APR on a $400 payday loan was 247% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Webster County before you borrow
- Call or text 211 for help with rent, utilities and food in Webster 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 Otho
The nearest larger city is Ames, about 38 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 Otho?
Yes. Payday loans are legal in Otho under Iowa state law, and lenders must be licensed by the Iowa Division of Banking.
How much does a payday loan cost in Otho?
At Iowa’s maximum fee, borrowing $300 costs $35 on a $300 check. The typical statewide APR was 247% in 2023.
Where is the nearest credit union to Otho?
No credit union is headquartered in Otho, but Fort Dodge Family Credit Union is based in Fort Dodge, also in Webster 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)
- 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