- Payday loans in Monroe 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 Corvallis, about 18 miles away.
Monroe at a glance
| Monroe | |
|---|---|
| Population (2024 Census estimate) | 677 |
| Change since 2020 | +5% (growing fast) |
| County | Benton County |
| Size rank among 211 Oregon places we cover | 180th |
| Nearest larger city | Corvallis (about 18 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Benton County | 2 |
| Other towns within 25 miles | 15 (about 407,843 residents) |
| Typical payday APR statewide (CRL 2023) | 140% |
Payday lending in Monroe follows Oregon state law. Lenders that serve Monroe, in a store or online, must be licensed by the Oregon Division of Financial Regulation.
Credit unions near Monroe
No credit union has its main office in Monroe, but these are based elsewhere in Benton County (NCUA, June 2026):
- Benton County Schools Credit Union in Corvallis (state charter)
- Oregon State Credit Union in Corvallis (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 Monroe
The main Oregon rules for a payday loan in Monroe: 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 Monroe
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 Benton County before you borrow
- Call or text 211 for help with rent, utilities and food in Benton 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 Monroe
The nearest larger city is Corvallis, about 18 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 Monroe?
Yes. Payday loans are legal in Monroe under Oregon state law, and lenders must be licensed by the Oregon Division of Financial Regulation.
How much does a payday loan cost in Monroe?
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 Monroe?
No credit union is headquartered in Monroe, but Benton County Schools Credit Union is based in Corvallis, also in Benton 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)
- 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