- Payday loans in Elgin follow Oregon law (ORS chapter 725A).
- Borrowing $300 at the state maximum costs About $39 on a 31-day loan ($30 origination fee plus 36% interest).
- The nearest larger city is Redmond, about 183 miles away.
Elgin at a glance
| Elgin | |
|---|---|
| Population (2024 Census estimate) | 1,694 |
| Change since 2020 | -1.2% (shrinking) |
| County | Union County |
| Size rank among 211 Oregon places we cover | 133rd |
| Nearest larger city | Redmond (about 183 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Other towns within 25 miles | 5 (about 17,744 residents) |
| Typical payday APR statewide (CRL 2023) | 140% |
There is no separate Elgin payday law: Oregon rules apply here, and any lender serving Elgin residents, online or in person, needs a license from the Oregon Division of Financial Regulation.
Credit unions near Elgin
NCUA data (June 2026) shows no credit union headquartered in Elgin or Union County. Many credit unions have branches in other towns or accept members online. Use the NCUA’s Credit Union Locator to find one near you.
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.
Payday loan rules that apply in Elgin
In short, Oregon rules that cover Elgin include: minimum term: 31 days; interest: 36% a year; origination fee: $10 per $100, up to $30 on a new loan. See the full Oregon payday loan rules.
What a $300 loan costs in Elgin
The Center for Responsible Lending put the typical APR on a $400 payday loan in Oregon at 140% (June 2023). For $300 at the state maximum, expect About $39 on a 31-day loan ($30 origination fee plus 36% interest). Check any offer with our payday loan calculator.
Other help in Union County before you borrow
Before a payday loan, Elgin residents can usually find something cheaper:
- Local assistance through 211 covering Union 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 Elgin
The nearest larger city is Redmond, about 183 miles away. See all 211 Oregon 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 Oregon state law, and lenders must be licensed by the Oregon Division of Financial Regulation.
How much does a payday loan cost in Elgin?
At Oregon’s maximum fee, borrowing $300 costs About $39 on a 31-day loan ($30 origination fee plus 36% interest). The typical statewide APR was 140% in 2023.
Where is the nearest credit union to Elgin?
NCUA data shows no credit union headquartered in Elgin or its county. Use the NCUA credit union locator to find branches and online credit unions.
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)
- Oregon DFR — Payday loans
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary