- Payday loans in Chaffee follow Missouri law (RSMo 408.500, 408.505 and 408.506).
- Borrowing $300 at the state maximum costs Up to 75% of the loan over its whole life, including renewals.
- The nearest larger city is Cape Girardeau, about 11 miles away.
Chaffee at a glance
| Chaffee | |
|---|---|
| Population (2024 Census estimate) | 3,017 |
| Change since 2020 | -1% (shrinking) |
| County | Scott County |
| Size rank among 608 Missouri places we cover | 184th |
| Nearest larger city | Cape Girardeau (about 11 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Scott County | 3 |
| Other towns within 25 miles | 16 (about 87,051 residents) |
| Typical payday APR statewide (CRL 2023) | 652% |
Whether you borrow at a storefront in Cape Girardeau or online from Chaffee, the lender must hold a Missouri license from the Missouri Division of Finance and follow state limits.
Credit unions near Chaffee
No credit union has its main office in Chaffee, but these are based elsewhere in Scott County (NCUA, June 2026):
- Highway Crossroads Credit Union in Sikeston (state charter)
- Sikeston Public Schools Credit Union in Sikeston (state charter)
- St. Augustine Credit Union in Kelso (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 Chaffee
Key Missouri limits that apply to Chaffee borrowers: maximum loan: $500; loan term: 14 to 31 days; cost cap: interest and fees capped at 75% of the initial loan, including all renewals. See the full Missouri payday loan rules.
What a $300 loan costs in Chaffee
The Center for Responsible Lending put the typical APR on a $400 payday loan in Missouri at 652% (June 2023). For $300 at the state maximum, expect Up to 75% of the loan over its whole life, including renewals. Check any offer with our payday loan calculator.
Other help in Scott County before you borrow
- Credit union payday alternative loans (PALs): $200–$2,000 at no more than 28% APR. Search for a federal credit union in Chaffee that offers them. See how PALs work.
- Your bank’s small-dollar loan, if it offers one. See bank small-dollar loans.
- Cash advance apps for $20–$500 based on your direct deposits. See apps compared.
- 211: call or text 211 for local help with rent, utilities and food.
Towns near Chaffee
The nearest larger city is Cape Girardeau, about 11 miles away. See all 608 Missouri 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 Chaffee?
Yes. Payday loans are legal in Chaffee under Missouri state law, and lenders must be licensed by the Missouri Division of Finance.
How much does a payday loan cost in Chaffee?
At Missouri’s maximum fee, borrowing $300 costs Up to 75% of the loan over its whole life, including renewals. The typical statewide APR was 652% in 2023.
Where is the nearest credit union to Chaffee?
No credit union is headquartered in Chaffee, but Highway Crossroads Credit Union is based in Sikeston, also in Scott 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)
- Missouri Division of Finance — Payday lenders
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary