- Payday loans in Elma follow Washington law (RCW 31.45 (Check Cashers and Sellers)).
- Borrowing $300 at the state maximum costs $45 (15% fee).
- The nearest larger city is Tumwater, about 23 miles away.
Elma at a glance
| Elma | |
|---|---|
| Population (2024 Census estimate) | 3,515 |
| Change since 2020 | +1.9% (growing) |
| County | Grays Harbor County |
| Size rank among 262 Washington places we cover | 136th |
| Nearest larger city | Tumwater (about 23 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Grays Harbor County | 4 |
| Other towns within 25 miles | 9 (about 129,300 residents) |
| Typical payday APR statewide (CRL 2023) | 391% |
There is no separate Elma payday law: Washington rules apply here, and any lender serving Elma residents, online or in person, needs a license from the Washington Department of Financial Institutions.
Credit unions near Elma
No credit union has its main office in Elma, but these are based elsewhere in Grays Harbor County (NCUA, June 2026):
- Utility Employees Federal Credit Union in Aberdeen (federal charter — may offer payday alternative loans (PALs))
- Longshore Federal Credit Union in Hoquiam (federal charter — may offer payday alternative loans (PALs))
- Newrizons Federal Credit Union in Hoquiam (federal charter — may offer payday alternative loans (PALs))
- Great Northwest Federal Credit Union in Aberdeen (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.
Need $100–$1,000 before payday?
- One free request, many lenders
- Bad credit and benefit income considered by many lenders
- See the APR and total cost before you sign
PaydayEase is not a lender. Requests go to lenders in our network; approval, rates and terms are set by the lender. Rates & fees
Payday loan rules that apply in Elma
In short, Washington rules that cover Elma include: maximum loan: $700 or 30% of your gross monthly income, whichever is less; maximum fee: 15% on the first $500, 10% on amounts above $500; loans per year: no more than 8 in any 12-month period. See the full Washington payday loan rules.
What a $300 loan costs in Elma
At Washington’s maximum fee, borrowing $300 costs $45 (15% fee). Statewide, the typical APR on a $400 payday loan was 391% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Grays Harbor County before you borrow
Before a payday loan, Elma residents can usually find something cheaper:
- Local assistance through 211 covering Grays Harbor 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 Elma
The nearest larger city is Tumwater, about 23 miles away. See all 262 Washington 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 Elma?
Yes. Payday loans are legal in Elma under Washington state law, and lenders must be licensed by the Washington Department of Financial Institutions.
How much does a payday loan cost in Elma?
At Washington’s maximum fee, borrowing $300 costs $45 (15% fee). The typical statewide APR was 391% in 2023.
Where is the nearest credit union to Elma?
No credit union is headquartered in Elma, but Utility Employees Federal Credit Union is based in Aberdeen, also in Grays Harbor 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)
- Washington DFI — 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