- Payday loans in Bray follow Oklahoma law (Oklahoma Deferred Deposit Lending Act (59 O.S. §§ 3101–3119)).
- Borrowing $300 at the state maximum costs $45.
- The nearest larger city is Lawton, about 34 miles away.
Bray at a glance
| Bray | |
|---|---|
| Population (2024 Census estimate) | 997 |
| Change since 2020 | +4.4% (growing) |
| County | Stephens County |
| Size rank among 411 Oklahoma places we cover | 214th |
| Nearest larger city | Lawton (about 34 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Stephens County | 2 |
| Other towns within 25 miles | 11 (about 37,479 residents) |
| Typical payday APR statewide (CRL 2023) | 424% |
There is no separate Bray payday law: Oklahoma rules apply here, and any lender serving Bray residents, online or in person, needs a license from the Oklahoma Department of Consumer Credit.
Credit unions near Bray
No credit union has its main office in Bray, but these are based elsewhere in Stephens County (NCUA, June 2026):
- Velma Federal Credit Union in Velma (federal charter — may offer payday alternative loans (PALs))
- Endurance Federal Credit Union in Duncan (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 Bray
In short, Oklahoma rules that cover Bray include: maximum loan: $500; maximum fee: $15 per $100 on the first $300, then $10 per $100; loan term: 12 to 45 days. See the full Oklahoma payday loan rules.
What a $300 loan costs in Bray
At Oklahoma’s maximum fee, borrowing $300 costs $45. Statewide, the typical APR on a $400 payday loan was 424% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Stephens County before you borrow
Before a payday loan, Bray residents can usually find something cheaper:
- Local assistance through 211 covering Stephens 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 Bray
The nearest larger city is Lawton, about 34 miles away. See all 411 Oklahoma 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 Bray?
Yes. Payday loans are legal in Bray under Oklahoma state law, and lenders must be licensed by the Oklahoma Department of Consumer Credit.
How much does a payday loan cost in Bray?
At Oklahoma’s maximum fee, borrowing $300 costs $45. The typical statewide APR was 424% in 2023.
Where is the nearest credit union to Bray?
No credit union is headquartered in Bray, but Velma Federal Credit Union is based in Velma, also in Stephens 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)
- Oklahoma Legislature — SB 1565 (2004)
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary