- Payday loans in Independence 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.
- 3 credit unions are headquartered in Independence; ask about small-dollar loans before borrowing.
Independence at a glance
| Independence | |
|---|---|
| Population (2024 Census estimate) | 121,629 |
| Change since 2020 | -1% (shrinking) |
| Counties | Clay County and Jackson County |
| Size rank among 608 Missouri places we cover | 5th |
| Share of Missouri’s population | 1.9% |
| Nearest larger city | Kansas (about 11 miles) |
| Credit unions headquartered in town (NCUA) | 3 |
| Credit unions headquartered in these counties | 16 |
| Other towns within 25 miles | 45 (about 982,531 residents) |
| Typical payday APR statewide (CRL 2023) | 652% |
Payday lending in Independence follows Missouri state law. Lenders that serve Independence, in a store or online, must be licensed by the Missouri Division of Finance.
Credit unions in Independence
These credit unions have their main office in Independence, according to NCUA call report data (June 2026):
- Independence Teachers Credit Union (state charter)
- City Credit Union (state charter)
- United Consumers 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.
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Payday loan rules that apply in Independence
| Rule | Missouri |
|---|---|
| Maximum loan | $500 |
| Loan term | 14 to 31 days |
| Cost cap | Interest and fees capped at 75% of the initial loan, including all renewals |
| Renewals | No more than six |
| Early repayment | Repay by the close of the lender’s next full business day and you pay no interest or fees |
What a $300 loan costs in Independence
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 Clay County before you borrow
- Call or text 211 for help with rent, utilities and food in Clay 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 Independence
- Sugar Creek · 5 mi
- Lake Tapawingo · 5 mi
- Blue Springs · 7 mi
- Raytown · 9 mi
- Grain Valley · 9 mi
- Buckner · 9 mi
The nearest larger city is Kansas, 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 Independence?
Yes. Payday loans are legal in Independence under Missouri state law, and lenders must be licensed by the Missouri Division of Finance.
How much does a payday loan cost in Independence?
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.
Are there credit unions in Independence?
Yes. NCUA data lists 3 credit unions with a main office in Independence, including Independence Teachers Credit Union and City Credit Union.
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