- Payday loans in Millwood 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 Spokane Valley, about 3 miles away.
Millwood at a glance
| Millwood | |
|---|---|
| Population (2024 Census estimate) | 1,841 |
| Change since 2020 | -2.2% (shrinking) |
| County | Spokane County |
| Size rank among 262 Washington places we cover | 172nd |
| Nearest larger city | Spokane Valley (about 3 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Spokane County | 13 |
| Other towns within 25 miles | 10 (about 388,576 residents) |
| Typical payday APR statewide (CRL 2023) | 391% |
Whether you borrow at a storefront in Spokane Valley or online from Millwood, the lender must hold a Washington license from the Washington Department of Financial Institutions and follow state limits.
Credit unions near Millwood
No credit union has its main office in Millwood, but these are based elsewhere in Spokane County (NCUA, June 2026):
- Cheney Federal Credit Union in Cheney (federal charter — may offer payday alternative loans (PALs))
- Safeway Federal Credit Union in Spokane (federal charter — may offer payday alternative loans (PALs))
- Canopy Federal Credit Union in Spokane (federal charter — may offer payday alternative loans (PALs))
- Spokane Media Federal Credit Union in Spokane (federal charter — may offer payday alternative loans (PALs))
- Numerica Credit Union in Spokane Valley (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 Millwood
Key Washington limits that apply to Millwood borrowers: 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 Millwood
The Center for Responsible Lending put the typical APR on a $400 payday loan in Washington at 391% (June 2023). For $300 at the state maximum, expect $45 (15% fee). Check any offer with our payday loan calculator.
Other help in Spokane County before you borrow
- Credit union payday alternative loans (PALs): $200–$2,000 at no more than 28% APR. Search for a federal credit union in Millwood that offers them. See how PALs work.
- Your bank’s small-dollar loan, if it offers one. See bank small-dollar loans.
- Cash advance apps for $20–$500 based on your direct deposits. See apps compared.
- 211: call or text 211 for local help with rent, utilities and food.
Towns near Millwood
- Spokane Valley · 3 mi
- Spokane · 7 mi
- Liberty Lake · 8 mi
- Airway Heights · 14 mi
- Rockford · 18 mi
- Spangle · 18 mi
The nearest larger city is Spokane Valley, about 3 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 Millwood?
Yes. Payday loans are legal in Millwood under Washington state law, and lenders must be licensed by the Washington Department of Financial Institutions.
How much does a payday loan cost in Millwood?
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 Millwood?
No credit union is headquartered in Millwood, but Cheney Federal Credit Union is based in Cheney, also in Spokane 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