- Payday loans in Saginaw follow Michigan law (Deferred Presentment Service Transactions Act (Act 244 of 2005)).
- Borrowing $300 at the state maximum costs $42.
- 7 credit unions are headquartered in Saginaw; ask about small-dollar loans before borrowing.
Saginaw at a glance
| Saginaw | |
|---|---|
| Population (2024 Census estimate) | 43,001 |
| Change since 2020 | -2.5% (shrinking) |
| County | Saginaw County |
| Size rank among 506 Michigan places we cover | 28th |
| Nearest larger city | Flint (about 30 miles) |
| Credit unions headquartered in town (NCUA) | 7, 1 federal |
| Credit unions headquartered in Saginaw County | 8 |
| Other towns within 25 miles | 20 (about 107,450 residents) |
| Typical payday APR statewide (CRL 2023) | 356% |
There is no separate Saginaw payday law: Michigan rules apply here, and any lender serving Saginaw residents, online or in person, needs a license from the Michigan Department of Insurance and Financial Services (DIFS).
Credit unions in Saginaw
These credit unions have their main office in Saginaw, according to NCUA call report data (June 2026):
- Health Advantage Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Wildfire Credit Union (state charter)
- Lake Huron Credit Union (state charter)
- United Financial Credit Union (state charter)
- Family First Credit Union (state charter)
- Team One Credit Union (state charter)
- Jolt Credit Union (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 Saginaw
In short, Michigan rules that cover Saginaw 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 Saginaw
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 Saginaw County before you borrow
Before a payday loan, Saginaw residents can usually find something cheaper:
- Local assistance through 211 covering Saginaw 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 Saginaw
The nearest larger city is Flint, 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 Saginaw?
Yes. Payday loans are legal in Saginaw 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 Saginaw?
At Michigan’s maximum fee, borrowing $300 costs $42. The typical statewide APR was 356% in 2023.
Are there credit unions in Saginaw?
Yes. NCUA data lists 7 credit unions with a main office in Saginaw, including Health Advantage Federal Credit Union and Wildfire 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)
- 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