- Payday loans in Waterloo 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 Waterloo; ask about small-dollar loans before borrowing.
Waterloo at a glance
| Waterloo | |
|---|---|
| Population (2024 Census estimate) | 67,477 |
| Change since 2020 | +0.3% (holding steady) |
| County | Black Hawk County |
| Size rank among 609 Iowa places we cover | 9th |
| Share of Iowa’s population | 2.1% |
| Nearest larger city | Cedar Rapids (about 50 miles) |
| Credit unions headquartered in town (NCUA) | 3 |
| Credit unions headquartered in Black Hawk County | 5 |
| Other towns within 25 miles | 27 (about 93,859 residents) |
| Typical payday APR statewide (CRL 2023) | 247% |
Payday lending in Waterloo follows Iowa state law. Lenders that serve Waterloo, in a store or online, must be licensed by the Iowa Division of Banking.
Credit unions in Waterloo
These credit unions have their main office in Waterloo, according to NCUA call report data (June 2026):
- Veridian Credit Union (state charter)
- Waterloo Firemen'S Credit Union (state charter)
- Allen Hospital Personnel 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 Waterloo
The main Iowa rules for a payday loan in Waterloo: 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 Waterloo
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
- Call or text 211 for help with rent, utilities and food in Black Hawk 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 Waterloo
- Evansdale · 5 mi
- Elk Run Heights · 5 mi
- Cedar Falls · 6 mi
- Raymond · 6 mi
- Hudson · 6 mi
- Gilbertville · 9 mi
The nearest larger city is Cedar Rapids, about 50 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 Waterloo?
Yes. Payday loans are legal in Waterloo under Iowa state law, and lenders must be licensed by the Iowa Division of Banking.
How much does a payday loan cost in Waterloo?
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 Waterloo?
Yes. NCUA data lists 3 credit unions with a main office in Waterloo, including Veridian Credit Union and Waterloo Firemen'S 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