- Payday loans in Junction 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 Monroe, about 50 miles away.
Junction at a glance
| Junction | |
|---|---|
| Population (2024 Census estimate) | 416 |
| Change since 2020 | -4.4% (shrinking) |
| Counties | Claiborne Parish and Union Parish |
| Size rank among 256 Louisiana places we cover | 226th |
| Nearest larger city | Monroe (about 50 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in these counties | 1 |
| Other towns within 25 miles | 5 (about 10,050 residents) |
| Typical payday APR statewide (CRL 2023) | 410% |
There is no separate Junction payday law: Louisiana rules apply here, and any lender serving Junction residents, online or in person, needs a license from the Louisiana Office of Financial Institutions.
Credit unions near Junction
No credit union has its main office in Junction, but these are based elsewhere in Claiborne Parish (NCUA, June 2026):
- Union Federal Credit Union in Farmerville (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 Junction
In short, Louisiana rules that cover Junction include: 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 Junction
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 Claiborne Parish before you borrow
Before a payday loan, Junction residents can usually find something cheaper:
- Local assistance through 211 covering Claiborne Parish.
- A credit union payday alternative loan (max 28% APR). See PALs explained.
- Your bank’s small-dollar loan, if offered (compare banks).
- A cash advance app for $20–$500 (apps compared).
Towns near Junction
The nearest larger city is Monroe, about 50 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 Junction?
Yes. Payday loans are legal in Junction under Louisiana state law, and lenders must be licensed by the Louisiana Office of Financial Institutions.
How much does a payday loan cost in Junction?
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 Junction?
No credit union is headquartered in Junction, but Union Federal Credit Union is based in Farmerville, also in Claiborne 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