- Payday loans in Luna Pier 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 Southgate, about 30 miles away.
Luna Pier at a glance
| Luna Pier | |
|---|---|
| Population (2024 Census estimate) | 1,357 |
| Change since 2020 | -1.5% (shrinking) |
| County | Monroe County |
| Size rank among 506 Michigan places we cover | 313th |
| Nearest larger city | Southgate (about 30 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Monroe County | 1 |
| Other towns within 25 miles | 14 (about 61,195 residents) |
| Typical payday APR statewide (CRL 2023) | 356% |
There is no separate Luna Pier payday law: Michigan rules apply here, and any lender serving Luna Pier residents, online or in person, needs a license from the Michigan Department of Insurance and Financial Services (DIFS).
Credit unions near Luna Pier
No credit union has its main office in Luna Pier, but these are based elsewhere in Monroe County (NCUA, June 2026):
- Monroe Community Credit Union in Monroe (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 Luna Pier
In short, Michigan rules that cover Luna Pier 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 Luna Pier
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 Monroe County before you borrow
Before a payday loan, Luna Pier residents can usually find something cheaper:
- Local assistance through 211 covering Monroe 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 Luna Pier
The nearest larger city is Southgate, about 30 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 Luna Pier?
Yes. Payday loans are legal in Luna Pier 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 Luna Pier?
At Michigan’s maximum fee, borrowing $300 costs $42. The typical statewide APR was 356% in 2023.
Where is the nearest credit union to Luna Pier?
No credit union is headquartered in Luna Pier, but Monroe Community Credit Union is based in Monroe, also in Monroe 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