- Payday loans in Iowa follow Louisiana law (Louisiana Deferred Presentment and Small Loan Act, as amended by Act 510 (2025)).
- Borrowing $300 at the state maximum costs $50.25 (16.75%) plus a $10 documentation fee.
- The nearest larger city is Lake Charles, about 12 miles away.
Iowa at a glance
| Iowa | |
|---|---|
| Population (2024 Census estimate) | 3,150 |
| Change since 2020 | -7.9% (shrinking) |
| County | Calcasieu Parish |
| Size rank among 256 Louisiana places we cover | 88th |
| Nearest larger city | Lake Charles (about 12 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Calcasieu Parish | 9 |
| Other towns within 25 miles | 7 (about 123,675 residents) |
| Typical payday APR statewide (CRL 2023) | 410% |
Payday lending in Iowa follows Louisiana state law. Lenders that serve Iowa, in a store or online, must be licensed by the Louisiana Office of Financial Institutions.
Credit unions near Iowa
No credit union has its main office in Iowa, but these are based elsewhere in Calcasieu Parish (NCUA, June 2026):
- Cse Federal Credit Union in Lake Charles (federal charter — may offer payday alternative loans (PALs))
- Davison Employees Federal Credit Union in Sulphur (federal charter — may offer payday alternative loans (PALs))
- Access of Louisiana Federal Credit Union in Lake Charles (federal charter — may offer payday alternative loans (PALs))
- Calcasieu Parish Employees Federal Credit Union in Lake Charles (federal charter — may offer payday alternative loans (PALs))
- Montell Federal Credit Union in Sulphur (federal charter — may offer payday alternative loans (PALs))
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 Iowa
The main Louisiana rules for a payday loan in Iowa: maximum loan: $700 since August 1, 2025 (was $350); OFI publishes an annual adjustment; maximum fee: 16.75% of the amount advanced, plus a $10 documentation fee (the old $45 cap was removed); loan term: up to 30 days. See the full Louisiana payday loan rules.
What a $300 loan costs in Iowa
The Center for Responsible Lending put the typical APR on a $400 payday loan in Louisiana at 410% (June 2023). For $300 at the state maximum, expect $50.25 (16.75%) plus a $10 documentation fee. Check any offer with our payday loan calculator.
Other help in Calcasieu Parish before you borrow
- Call or text 211 for help with rent, utilities and food in Calcasieu Parish.
- 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 Iowa
The nearest larger city is Lake Charles, about 12 miles away. See all 256 Louisiana 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 Iowa?
Yes. Payday loans are legal in Iowa under Louisiana state law, and lenders must be licensed by the Louisiana Office of Financial Institutions.
How much does a payday loan cost in Iowa?
At Louisiana’s maximum fee, borrowing $300 costs $50.25 (16.75%) plus a $10 documentation fee. The typical statewide APR was 410% in 2023.
Where is the nearest credit union to Iowa?
No credit union is headquartered in Iowa, but Cse Federal Credit Union is based in Lake Charles, also in Calcasieu Parish.
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)
- Louisiana OFI — 2025 deferred presentment and small loan legislation
- Louisiana OFI — Payday loans pamphlet
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary