- Payday loans in Watauga follow Tennessee law (Deferred Presentment Services Act (TCA Title 45, Chapter 17)).
- Borrowing $300 at the state maximum costs 15% of the check amount.
- The nearest larger city is Johnson, about 5 miles away.
Watauga at a glance
| Watauga | |
|---|---|
| Population (2024 Census estimate) | 367 |
| Change since 2020 | +4.3% (growing) |
| Counties | Carter County and Washington County |
| Size rank among 326 Tennessee places we cover | 307th |
| Nearest larger city | Johnson (about 5 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in these counties | 5 |
| Other towns within 25 miles | 9 (about 197,070 residents) |
| Typical payday APR statewide (CRL 2023) | 460% |
There is no separate Watauga payday law: Tennessee rules apply here, and any lender serving Watauga residents, online or in person, needs a license from the Tennessee Department of Financial Institutions.
Credit unions near Watauga
No credit union has its main office in Watauga, but these are based elsewhere in Carter County (NCUA, June 2026):
- Northeast Community Credit Union in Elizabethton (state charter)
- Happy Valley Credit Union in Elizabethton (state charter)
- Select Seven Federal Credit Union in Johnson City (federal charter — may offer payday alternative loans (PALs))
- Greater Experience Credit Union in Johnson City (state charter)
- Beacon Financial Credit Union in Johnson City (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.
Payday loan rules that apply in Watauga
In short, Tennessee rules that cover Watauga include: maximum: $500 in total outstanding checks; maximum fee: 15% of the face amount of the check; loan term: up to 31 days. See the full Tennessee payday loan rules.
What a $300 loan costs in Watauga
At Tennessee’s maximum fee, borrowing $300 costs 15% of the check amount. Statewide, the typical APR on a $400 payday loan was 460% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Carter County before you borrow
Before a payday loan, Watauga residents can usually find something cheaper:
- Local assistance through 211 covering Carter 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 Watauga
The nearest larger city is Johnson, about 5 miles away. See all 326 Tennessee 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 Watauga?
Yes. Payday loans are legal in Watauga under Tennessee state law, and lenders must be licensed by the Tennessee Department of Financial Institutions.
How much does a payday loan cost in Watauga?
At Tennessee’s maximum fee, borrowing $300 costs 15% of the check amount. The typical statewide APR was 460% in 2023.
Where is the nearest credit union to Watauga?
No credit union is headquartered in Watauga, but Northeast Community Credit Union is based in Elizabethton, also in Carter 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)
- Tennessee — Consumer notice, Deferred Presentment Services Act
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary