- Payday loans in Odessa follow Texas law (Texas Finance Code chapter 393 (Credit Access Businesses)).
- Texas law sets no cap on payday loan fees, so prices vary widely by lender.
- 6 credit unions are headquartered in Odessa; ask about small-dollar loans before borrowing.
Odessa at a glance
| Odessa | |
|---|---|
| Population (2024 Census estimate) | 119,748 |
| Change since 2020 | +4.2% (growing) |
| Counties | Ector County and Midland County |
| Size rank among 1,127 Texas places we cover | 32nd |
| Nearest larger city | Midland (about 17 miles) |
| Credit unions headquartered in town (NCUA) | 6, 1 federal |
| Credit unions headquartered in these counties | 11 |
| Other towns within 25 miles | 1 (about 143,687 residents) |
| Typical payday APR statewide (CRL 2023) | 662% |
There is no separate Odessa payday law: Texas rules apply here, and any lender serving Odessa residents, online or in person, needs a license from the Texas Office of Consumer Credit Commissioner (OCCC).
Credit unions in Odessa
These credit unions have their main office in Odessa, according to NCUA call report data (June 2026):
- Complex Community Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Southwest Heritage Credit Union (state charter)
- Odessa Employees Credit Union (state charter)
- Southwest 66 Credit Union (state charter)
- West Texas Credit Union (state charter)
- First Basin Credit Union (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 Odessa
| Rule | Texas |
|---|---|
| How it works | Most payday and title loans are arranged by licensed Credit Access Businesses (CABs) with a third-party lender |
| Fees | CAB fees are not capped by state law, which is why Texas has some of the highest APRs in the country |
| Licensing | Each CAB location must be licensed by the OCCC |
| Local rules | Many Texas cities, including Austin and Dallas, have adopted ordinances that further limit loan size and renewals |
Many Texas cities have their own rules for credit access businesses, such as limits on loan size and renewals. Ask the lender whether Odessa has one, or contact the city.
What a $300 loan costs in Odessa
The Center for Responsible Lending put the typical APR on a $400 payday loan in Texas at 662% (June 2023). Texas law sets no cap on payday loan fees, so prices vary widely by lender. Check any offer with our payday loan calculator.
Other help in Ector County before you borrow
Before a payday loan, Odessa residents can usually find something cheaper:
- Local assistance through 211 covering Ector 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 Odessa
The nearest larger city is Midland, about 17 miles away. See all 1,127 Texas 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 Odessa?
Yes. Payday loans are legal in Odessa under Texas state law, and lenders must be licensed by the Texas Office of Consumer Credit Commissioner (OCCC).
How much does a payday loan cost in Odessa?
Texas law sets no cap on payday loan fees, so prices vary widely by lender. The typical statewide APR was 662% in 2023.
Are there credit unions in Odessa?
Yes. NCUA data lists 6 credit unions with a main office in Odessa, including Complex Community Federal Credit Union and Southwest Heritage Credit Union. Federal credit unions can offer payday alternative loans capped at 28% APR.
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)
- Texas OCCC — Credit access businesses
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary