- Payday loans in Davison 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 Burton, about 5 miles away.
Davison at a glance
| Davison | |
|---|---|
| Population (2024 Census estimate) | 5,059 |
| Change since 2020 | -1.3% (shrinking) |
| County | Genesee County |
| Size rank among 506 Michigan places we cover | 153rd |
| Nearest larger city | Burton (about 5 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Genesee County | 5 |
| Other towns within 25 miles | 33 (about 201,741 residents) |
| Typical payday APR statewide (CRL 2023) | 356% |
There is no separate Davison payday law: Michigan rules apply here, and any lender serving Davison residents, online or in person, needs a license from the Michigan Department of Insurance and Financial Services (DIFS).
Credit unions near Davison
No credit union has its main office in Davison, but these are based elsewhere in Genesee County (NCUA, June 2026):
- Sovita Credit Union in Flint (state charter)
- Security Credit Union in Grand Blanc (state charter)
- Elga Credit Union in Grand Blanc (state charter)
- Financial Plus Credit Union in Flint (state charter)
- Dort Financial Credit Union in Grand Blanc (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 Davison
In short, Michigan rules that cover Davison 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 Davison
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 Genesee County before you borrow
Before a payday loan, Davison residents can usually find something cheaper:
- Local assistance through 211 covering Genesee 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 Davison
The nearest larger city is Burton, about 5 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 Davison?
Yes. Payday loans are legal in Davison 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 Davison?
At Michigan’s maximum fee, borrowing $300 costs $42. The typical statewide APR was 356% in 2023.
Where is the nearest credit union to Davison?
No credit union is headquartered in Davison, but Sovita Credit Union is based in Flint, also in Genesee 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