- Payday loans in Lexington follow Kentucky law (KRS 286.9 (deferred deposit transactions)).
- Borrowing $300 at the state maximum costs $45 ($15 per $100).
- 7 credit unions are headquartered in Lexington; ask about small-dollar loans before borrowing.
Lexington at a glance
| Lexington | |
|---|---|
| Population (2024 Census estimate) | 329,437 |
| Change since 2020 | +2.1% (growing) |
| County | Fayette County |
| Size rank among 359 Kentucky places we cover | 2nd |
| Share of Kentucky’s population | 7.2% |
| Nearest larger city | Louisville (about 65 miles) |
| Credit unions headquartered in town (NCUA) | 7, 3 federal |
| Credit unions headquartered in Fayette County | 7 |
| Other towns within 25 miles | 13 (about 204,444 residents) |
| Typical payday APR statewide (CRL 2023) | 450% |
Whether you borrow at a storefront in Louisville or online from Lexington, the lender must hold a Kentucky license from the Kentucky Department of Financial Institutions and follow state limits.
Credit unions in Lexington
These credit unions have their main office in Lexington, according to NCUA call report data (June 2026):
- the Health & Education Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Kue Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- University of Kentucky Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Greater Kentucky CU, Inc. (state charter)
- Lexington Postal Community Credit Union (state charter)
- Metro Plus Credit Union (state charter)
- Members Heritage 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 Lexington
| Rule | Kentucky |
|---|---|
| Maximum | $600 in total proceeds under 2026 legislation (SB 219), indexed to inflation up to $850; previously $500 |
| Maximum fee | $15 per $100 |
| Loan term | 14 to 60 days |
| Loans at once | Two, tracked in a statewide database |
What a $300 loan costs in Lexington
At Kentucky’s maximum fee, borrowing $300 costs $45 ($15 per $100). Statewide, the typical APR on a $400 payday loan was 450% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Fayette County before you borrow
- Credit union payday alternative loans (PALs): $200–$2,000 at no more than 28% APR. Search for a federal credit union in Lexington that offers them. See how PALs work.
- Your bank’s small-dollar loan, if it offers one. See bank small-dollar loans.
- Cash advance apps for $20–$500 based on your direct deposits. See apps compared.
- 211: call or text 211 for local help with rent, utilities and food.
Towns near Lexington
- Nicholasville · 12 mi
- Midway · 14 mi
- Versailles · 15 mi
- Winchester · 15 mi
- Paris · 15 mi
- Georgetown · 16 mi
The nearest larger city is Louisville, about 65 miles away. See all 359 Kentucky 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 Lexington?
Yes. Payday loans are legal in Lexington under Kentucky state law, and lenders must be licensed by the Kentucky Department of Financial Institutions.
How much does a payday loan cost in Lexington?
At Kentucky’s maximum fee, borrowing $300 costs $45 ($15 per $100). The typical statewide APR was 450% in 2023.
Are there credit unions in Lexington?
Yes. NCUA data lists 7 credit unions with a main office in Lexington, including the Health & Education Federal Credit Union and Kue Federal Credit Union. Federal credit unions can offer payday alternative loans capped at 28% APR.
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)
- KRS 286.9-100
- Kentucky Acts 2026, ch. 98 (SB 219)
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary