- Payday loans in Shallowater 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 Lubbock, about 11 miles away.
Shallowater at a glance
| Shallowater | |
|---|---|
| Population (2024 Census estimate) | 2,972 |
| Change since 2020 | +0.1% (holding steady) |
| County | Lubbock County |
| Size rank among 1,127 Texas places we cover | 499th |
| Nearest larger city | Lubbock (about 11 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Lubbock County | 4 |
| Other towns within 25 miles | 11 (about 301,717 residents) |
| Typical payday APR statewide (CRL 2023) | 662% |
Payday lending in Shallowater follows Texas state law. Lenders that serve Shallowater, in a store or online, must be licensed by the Texas Office of Consumer Credit Commissioner (OCCC).
Credit unions near Shallowater
No credit union has its main office in Shallowater, but these are based elsewhere in Lubbock County (NCUA, June 2026):
- Westex Federal Credit Union in Lubbock (federal charter — may offer payday alternative loans (PALs))
- Texas Tech Federal Credit Union in Lubbock (federal charter — may offer payday alternative loans (PALs))
- Caprock Santa Fe Credit Union in Slaton (state charter)
- Alliance Credit Union in Lubbock (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 Shallowater
The main Texas rules for a payday loan in Shallowater: 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 Shallowater has one, or contact the city.
What a $300 loan costs in Shallowater
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 Lubbock County before you borrow
- Call or text 211 for help with rent, utilities and food in Lubbock 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 Shallowater
The nearest larger city is Lubbock, about 11 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 Shallowater?
Yes. Payday loans are legal in Shallowater 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 Shallowater?
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 Shallowater?
No credit union is headquartered in Shallowater, but Westex Federal Credit Union is based in Lubbock, also in Lubbock 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