- Payday loans in Elgin 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 14 miles away.
Elgin at a glance
| Elgin | |
|---|---|
| Population (2024 Census estimate) | 3,613 |
| Change since 2020 | +1.6% (growing) |
| County | Comanche County |
| Size rank among 411 Oklahoma places we cover | 93rd |
| Nearest larger city | Lawton (about 14 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Comanche County | 3 |
| Other towns within 25 miles | 16 (about 113,124 residents) |
| Typical payday APR statewide (CRL 2023) | 424% |
Payday lending in Elgin follows Oklahoma state law. Lenders that serve Elgin, in a store or online, must be licensed by the Oklahoma Department of Consumer Credit.
Credit unions near Elgin
No credit union has its main office in Elgin, but these are based elsewhere in Comanche County (NCUA, June 2026):
- Fort Sill Federal Credit Union in Lawton (federal charter — may offer payday alternative loans (PALs))
- Southwest Oklahoma Federal Credit Union in Lawton (federal charter — may offer payday alternative loans (PALs))
- Comanche County Federal Credit Union in Lawton (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 Elgin
The main Oklahoma rules for a payday loan in Elgin: 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 Elgin
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 Comanche County before you borrow
- Call or text 211 for help with rent, utilities and food in Comanche 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 Elgin
The nearest larger city is Lawton, about 14 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 Elgin?
Yes. Payday loans are legal in Elgin under Oklahoma state law, and lenders must be licensed by the Oklahoma Department of Consumer Credit.
How much does a payday loan cost in Elgin?
At Oklahoma’s maximum fee, borrowing $300 costs $45. The typical statewide APR was 424% in 2023.
Where is the nearest credit union to Elgin?
No credit union is headquartered in Elgin, but Fort Sill Federal Credit Union is based in Lawton, also in Comanche 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