- Payday loans in Chelsea follow Michigan law (Deferred Presentment Service Transactions Act (Act 244 of 2005)).
- Borrowing $300 at the state maximum costs $42.
- The nearest larger city is Ann Arbor, about 15 miles away.
Chelsea at a glance
| Chelsea | |
|---|---|
| Population (2024 Census estimate) | 5,393 |
| Change since 2020 | -1% (shrinking) |
| County | Washtenaw County |
| Size rank among 506 Michigan places we cover | 145th |
| Nearest larger city | Ann Arbor (about 15 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Washtenaw County | 1 |
| Other towns within 25 miles | 23 (about 250,693 residents) |
| Typical payday APR statewide (CRL 2023) | 356% |
There is no separate Chelsea payday law: Michigan rules apply here, and any lender serving Chelsea residents, online or in person, needs a license from the Michigan Department of Insurance and Financial Services (DIFS).
Credit unions near Chelsea
No credit union has its main office in Chelsea, but these are based elsewhere in Washtenaw County (NCUA, June 2026):
- University of Michigan Credit Union in Ann Arbor (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.
Payday loan rules that apply in Chelsea
In short, Michigan rules that cover Chelsea include: maximum loan: $600; maximum fee: 15% of the first $100, 14% of the second, 13% of the third, 12% of the fourth, 11% of the fifth and sixth ($76 on $600); loan term: up to 31 days. See the full Michigan payday loan rules.
What a $300 loan costs in Chelsea
At Michigan’s maximum fee, borrowing $300 costs $42. Statewide, the typical APR on a $400 payday loan was 356% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Washtenaw County before you borrow
Before a payday loan, Chelsea residents can usually find something cheaper:
- Local assistance through 211 covering Washtenaw County.
- 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 Chelsea
- Dexter · 7 mi
- Grass Lake · 10 mi
- Pinckney · 11 mi
- Manchester · 11 mi
- Stockbridge · 12 mi
- Barton Hills · 13 mi
The nearest larger city is Ann Arbor, about 15 miles away. See all 506 Michigan 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 Chelsea?
Yes. Payday loans are legal in Chelsea under Michigan state law, and lenders must be licensed by the Michigan Department of Insurance and Financial Services (DIFS).
How much does a payday loan cost in Chelsea?
At Michigan’s maximum fee, borrowing $300 costs $42. The typical statewide APR was 356% in 2023.
Where is the nearest credit union to Chelsea?
No credit union is headquartered in Chelsea, but University of Michigan Credit Union is based in Ann Arbor, also in Washtenaw County.
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)
- Michigan DIFS — Deferred presentment FAQ
- Act 244 of 2005
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary