- Payday loans in Riesel 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.
- The nearest larger city is Waco, about 16 miles away.
Riesel at a glance
| Riesel | |
|---|---|
| Population (2024 Census estimate) | 1,063 |
| Change since 2020 | +1.3% (growing) |
| County | McLennan County |
| Size rank among 1,127 Texas places we cover | 786th |
| Nearest larger city | Waco (about 16 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in McLennan County | 11 |
| Other towns within 25 miles | 21 (about 227,593 residents) |
| Typical payday APR statewide (CRL 2023) | 662% |
Payday lending in Riesel follows Texas state law. Lenders that serve Riesel, in a store or online, must be licensed by the Texas Office of Consumer Credit Commissioner (OCCC).
Credit unions near Riesel
No credit union has its main office in Riesel, but these are based elsewhere in McLennan County (NCUA, June 2026):
- Members Choice of Central Texas Federal Credit Union in Waco (federal charter — may offer payday alternative loans (PALs))
- Waco Federal Credit Union in Waco (federal charter — may offer payday alternative loans (PALs))
- Genco Federal Credit Union in Waco (federal charter — may offer payday alternative loans (PALs))
- Rocket Federal Credit Union in Mcgregor (federal charter — may offer payday alternative loans (PALs))
- Mclennan County Employees Federal Credit Union in Waco (federal charter — may offer payday alternative loans (PALs))
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 Riesel
The main Texas rules for a payday loan in Riesel: 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. See the full Texas payday loan rules.
Many Texas cities have their own rules for credit access businesses, such as limits on loan size and renewals. Ask the lender whether Riesel has one, or contact the city.
What a $300 loan costs in Riesel
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 McLennan County before you borrow
- Call or text 211 for help with rent, utilities and food in McLennan 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 Riesel
The nearest larger city is Waco, about 16 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 Riesel?
Yes. Payday loans are legal in Riesel 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 Riesel?
Texas law sets no cap on payday loan fees, so prices vary widely by lender. The typical statewide APR was 662% in 2023.
Where is the nearest credit union to Riesel?
No credit union is headquartered in Riesel, but Members Choice of Central Texas Federal Credit Union is based in Waco, also in McLennan 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)
- 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