- Payday loans in Madison follow Mississippi law (Mississippi Check Cashers Act).
- Borrowing $300 at the state maximum costs $65.85 ($21.95 per $100).
- The nearest larger city is Jackson, about 12 miles away.
Madison at a glance
| Madison | |
|---|---|
| Population (2024 Census estimate) | 28,210 |
| Change since 2020 | +1.6% (growing) |
| County | Madison County |
| Size rank among 256 Mississippi places we cover | 10th |
| Share of Mississippi’s population | 1% |
| Nearest larger city | Jackson (about 12 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Madison County | 3 |
| Other towns within 25 miles | 16 (about 302,120 residents) |
| Typical payday APR statewide (CRL 2023) | 572% |
Payday lending in Madison follows Mississippi state law. Lenders that serve Madison, in a store or online, must be licensed by the Mississippi Department of Banking and Consumer Finance.
Credit unions near Madison
No credit union has its main office in Madison, but these are based elsewhere in Madison County (NCUA, June 2026):
- Brightview Federal Credit Union in Ridgeland (federal charter — may offer payday alternative loans (PALs))
- Ecm Federal Credit Union in Ridgeland (federal charter — may offer payday alternative loans (PALs))
- Members Exchange Federal Credit Union in Jackson (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.
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Payday loan rules that apply in Madison
The main Mississippi rules for a payday loan in Madison: maximum check: $500, so the most you can receive is about $410; maximum fee: $20 per $100 on checks up to $250; $21.95 per $100 on checks of $251–$500; loan term: up to 30 days (28 to 30 days for checks over $250). See the full Mississippi payday loan rules.
What a $300 loan costs in Madison
The Center for Responsible Lending put the typical APR on a $400 payday loan in Mississippi at 572% (June 2023). For $300 at the state maximum, expect $65.85 ($21.95 per $100). Check any offer with our payday loan calculator.
Other help in Madison County before you borrow
- Call or text 211 for help with rent, utilities and food in Madison County.
- Ask a federal credit union about a PAL: $200–$2,000 at no more than 28% APR (how PALs work).
- Check your bank app for a small-dollar loan or early pay (bank options).
- Try a cash advance app if you have direct deposit (apps compared).
Towns near Madison
The nearest larger city is Jackson, about 12 miles away. See all 256 Mississippi 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 Madison?
Yes. Payday loans are legal in Madison under Mississippi state law, and lenders must be licensed by the Mississippi Department of Banking and Consumer Finance.
How much does a payday loan cost in Madison?
At Mississippi’s maximum fee, borrowing $300 costs $65.85 ($21.95 per $100). The typical statewide APR was 572% in 2023.
Where is the nearest credit union to Madison?
No credit union is headquartered in Madison, but Brightview Federal Credit Union is based in Ridgeland, also in Madison 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)
- Mississippi DBCF — Payday loans consumer pamphlet
- Mississippi Check Cashers Act
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary