- Payday loans in Independence 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 Salem, about 10 miles away.
Independence at a glance
| Independence | |
|---|---|
| Population (2024 Census estimate) | 10,295 |
| Change since 2020 | +2.9% (growing) |
| County | Polk County |
| Size rank among 211 Oregon places we cover | 52nd |
| Nearest larger city | Salem (about 10 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Other towns within 25 miles | 24 (about 465,317 residents) |
| Typical payday APR statewide (CRL 2023) | 140% |
Whether you borrow at a storefront in Salem or online from Independence, the lender must hold a Oregon license from the Oregon Division of Financial Regulation and follow state limits.
Credit unions near Independence
NCUA data (June 2026) shows no credit union headquartered in Independence or Polk 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.
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Payday loan rules that apply in Independence
Key Oregon limits that apply to Independence borrowers: 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 Independence
At Oregon’s maximum fee, borrowing $300 costs About $39 on a 31-day loan ($30 origination fee plus 36% interest). Statewide, the typical APR on a $400 payday loan was 140% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Polk 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 Independence 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 Independence
The nearest larger city is Salem, about 10 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 Independence?
Yes. Payday loans are legal in Independence under Oregon state law, and lenders must be licensed by the Oregon Division of Financial Regulation.
How much does a payday loan cost in Independence?
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 Independence?
NCUA data shows no credit union headquartered in Independence 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