- Payday loans in Ottumwa follow Iowa law (Iowa delayed deposit services law (Iowa Code ch. 533D)).
- Borrowing $300 at the state maximum costs $35 on a $300 check.
- 3 credit unions are headquartered in Ottumwa; ask about small-dollar loans before borrowing.
Ottumwa at a glance
| Ottumwa | |
|---|---|
| Population (2024 Census estimate) | 25,648 |
| Change since 2020 | +0.7% (holding steady) |
| County | Wapello County |
| Size rank among 609 Iowa places we cover | 19th |
| Share of Iowa’s population | 0.8% |
| Nearest larger city | Iowa (about 64 miles) |
| Credit unions headquartered in town (NCUA) | 3 |
| Credit unions headquartered in Wapello County | 3 |
| Other towns within 25 miles | 19 (about 36,519 residents) |
| Typical payday APR statewide (CRL 2023) | 247% |
Payday lending in Ottumwa follows Iowa state law. Lenders that serve Ottumwa, in a store or online, must be licensed by the Iowa Division of Banking.
Credit unions in Ottumwa
These credit unions have their main office in Ottumwa, according to NCUA call report data (June 2026):
- Meridian Credit Union (state charter)
- River Community Credit Union (state charter)
- Community 1st 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.
Payday loan rules that apply in Ottumwa
The main Iowa rules for a payday loan in Ottumwa: 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 Ottumwa
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 Wapello County before you borrow
- Call or text 211 for help with rent, utilities and food in Wapello 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 Ottumwa
The nearest larger city is Iowa, about 64 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 Ottumwa?
Yes. Payday loans are legal in Ottumwa under Iowa state law, and lenders must be licensed by the Iowa Division of Banking.
How much does a payday loan cost in Ottumwa?
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 Ottumwa?
Yes. NCUA data lists 3 credit unions with a main office in Ottumwa, including Meridian Credit Union and River 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