- Payday loans in Patterson 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 Houma, about 37 miles away.
Patterson at a glance
| Patterson | |
|---|---|
| Population (2024 Census estimate) | 5,614 |
| Change since 2020 | -5% (shrinking) |
| County | St. Mary Parish |
| Size rank among 256 Louisiana places we cover | 56th |
| Nearest larger city | Houma (about 37 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in St. Mary Parish | 3 |
| Other towns within 25 miles | 5 (about 23,763 residents) |
| Typical payday APR statewide (CRL 2023) | 410% |
There is no separate Patterson payday law: Louisiana rules apply here, and any lender serving Patterson residents, online or in person, needs a license from the Louisiana Office of Financial Institutions.
Credit unions near Patterson
No credit union has its main office in Patterson, but these are based elsewhere in St. Mary Parish (NCUA, June 2026):
- Morgan City Federal Credit Union in Morgan City (federal charter — may offer payday alternative loans (PALs))
- St. Mary Parish School Emp. Federal Credit Union in Franklin (federal charter — may offer payday alternative loans (PALs))
- Cabot Employees Credit Union in Franklin (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 Patterson
In short, Louisiana rules that cover Patterson 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 Patterson
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 St. Mary Parish before you borrow
Before a payday loan, Patterson residents can usually find something cheaper:
- Local assistance through 211 covering St. Mary 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 Patterson
The nearest larger city is Houma, about 37 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 Patterson?
Yes. Payday loans are legal in Patterson under Louisiana state law, and lenders must be licensed by the Louisiana Office of Financial Institutions.
How much does a payday loan cost in Patterson?
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 Patterson?
No credit union is headquartered in Patterson, but Morgan City Federal Credit Union is based in Morgan City, also in St. Mary 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