- Payday loans in Yale 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 Port Huron, about 21 miles away.
Yale at a glance
| Yale | |
|---|---|
| Population (2024 Census estimate) | 1,878 |
| Change since 2020 | -1.1% (shrinking) |
| County | St. Clair County |
| Size rank among 506 Michigan places we cover | 263rd |
| Nearest larger city | Port Huron (about 21 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in St. Clair County | 2 |
| Other towns within 25 miles | 20 (about 72,314 residents) |
| Typical payday APR statewide (CRL 2023) | 356% |
There is no separate Yale payday law: Michigan rules apply here, and any lender serving Yale residents, online or in person, needs a license from the Michigan Department of Insurance and Financial Services (DIFS).
Credit unions near Yale
No credit union has its main office in Yale, but these are based elsewhere in St. Clair County (NCUA, June 2026):
- Blue Water Federal Credit Union in Port Huron (federal charter — may offer payday alternative loans (PALs))
- Flagship Community Federal Credit Union in Port Huron (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 Yale
In short, Michigan rules that cover Yale 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 Yale
The Center for Responsible Lending put the typical APR on a $400 payday loan in Michigan at 356% (June 2023). For $300 at the state maximum, expect $42. Check any offer with our payday loan calculator.
Other help in St. Clair County before you borrow
Before a payday loan, Yale residents can usually find something cheaper:
- Local assistance through 211 covering St. Clair 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 Yale
The nearest larger city is Port Huron, about 21 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 Yale?
Yes. Payday loans are legal in Yale 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 Yale?
At Michigan’s maximum fee, borrowing $300 costs $42. The typical statewide APR was 356% in 2023.
Where is the nearest credit union to Yale?
No credit union is headquartered in Yale, but Blue Water Federal Credit Union is based in Port Huron, also in St. Clair 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