- Payday loans in West Monroe 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.
- 3 credit unions are headquartered in West Monroe; ask about small-dollar loans before borrowing.
West Monroe at a glance
| West Monroe | |
|---|---|
| Population (2024 Census estimate) | 12,476 |
| Change since 2020 | -4.4% (shrinking) |
| County | Ouachita Parish |
| Size rank among 256 Louisiana places we cover | 28th |
| Nearest larger city | Monroe (about 4 miles) |
| Credit unions headquartered in town (NCUA) | 3, 3 federal |
| Credit unions headquartered in Ouachita Parish | 5 |
| Other towns within 25 miles | 9 (about 70,242 residents) |
| Typical payday APR statewide (CRL 2023) | 410% |
There is no separate West Monroe payday law: Louisiana rules apply here, and any lender serving West Monroe residents, online or in person, needs a license from the Louisiana Office of Financial Institutions.
Credit unions in West Monroe
These credit unions have their main office in West Monroe, according to NCUA call report data (June 2026):
- Sevenfold Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Centric Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Ouachita Valley 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 West Monroe
In short, Louisiana rules that cover West Monroe 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 West Monroe
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 Ouachita Parish before you borrow
Before a payday loan, West Monroe residents can usually find something cheaper:
- Local assistance through 211 covering Ouachita 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 West Monroe
The nearest larger city is Monroe, about 4 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 West Monroe?
Yes. Payday loans are legal in West Monroe under Louisiana state law, and lenders must be licensed by the Louisiana Office of Financial Institutions.
How much does a payday loan cost in West Monroe?
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 West Monroe?
Yes. NCUA data lists 3 credit unions with a main office in West Monroe, including Sevenfold Federal Credit Union and Centric 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