- Payday loans in Lafayette 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.
- 8+ credit unions are headquartered in Lafayette; ask about small-dollar loans before borrowing.
Lafayette at a glance
| Lafayette | |
|---|---|
| Population (2024 Census estimate) | 122,280 |
| Change since 2020 | +0.7% (holding steady) |
| County | Lafayette Parish |
| Size rank among 256 Louisiana places we cover | 4th |
| Share of Louisiana’s population | 2.7% |
| Nearest larger city | Baton Rouge (about 56 miles) |
| Credit unions headquartered in town (NCUA) | 8+, 8 federal |
| Credit unions headquartered in Lafayette Parish | 11 |
| Other towns within 25 miles | 26 (about 167,991 residents) |
| Typical payday APR statewide (CRL 2023) | 410% |
Whether you borrow at a storefront in Baton Rouge or online from Lafayette, the lender must hold a Louisiana license from the Louisiana Office of Financial Institutions and follow state limits.
Credit unions in Lafayette
These credit unions have their main office in Lafayette, according to NCUA call report data (June 2026):
- Acadian Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Meritus Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Maple Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- University of Louisiana Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- 3rd District Highway Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- 705 Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Acadiana Medical Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- P.H.I. Federal Credit Union (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 Lafayette
| Rule | Louisiana |
|---|---|
| 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 |
| Credit reporting | Act 510 bars licensees from reporting negative information to credit bureaus |
What a $300 loan costs in Lafayette
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 Lafayette Parish 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 Lafayette 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 Lafayette
The nearest larger city is Baton Rouge, about 56 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 Lafayette?
Yes. Payday loans are legal in Lafayette under Louisiana state law, and lenders must be licensed by the Louisiana Office of Financial Institutions.
How much does a payday loan cost in Lafayette?
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.
Are there credit unions in Lafayette?
Yes. NCUA data lists 8 or more credit unions with a main office in Lafayette, including Acadian Federal Credit Union and Meritus 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)
- 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