- Payday loans in Spencer follow Wisconsin law (Wis. Stat. § 138.14).
- Wisconsin law sets no cap on payday loan fees, so prices vary widely by lender.
- The nearest larger city is Wausau, about 35 miles away.
Spencer at a glance
| Spencer | |
|---|---|
| Population (2024 Census estimate) | 1,813 |
| Change since 2020 | -0.7% (holding steady) |
| County | Marathon County |
| Size rank among 561 Wisconsin places we cover | 274th |
| Nearest larger city | Wausau (about 35 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Marathon County | 8 |
| Other towns within 25 miles | 22 (about 39,402 residents) |
| Typical payday APR statewide (CRL 2023) | 537% |
There is no separate Spencer payday law: Wisconsin rules apply here, and any lender serving Spencer residents, online or in person, needs a license from the Wisconsin Department of Financial Institutions.
Credit unions near Spencer
No credit union has its main office in Spencer, but these are based elsewhere in Marathon County (NCUA, June 2026):
- Valley Communities Credit Union in Mosinee (state charter)
- Public Service Credit Union in Wausau (state charter)
- Marathon County Employees Credit Union in Wausau (state charter)
- Connexus Credit Union in Wausau (state charter)
- Cloverbelt Credit Union in Wausau (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.
Payday loan rules that apply in Spencer
In short, Wisconsin rules that cover Spencer include: maximum loan: $1,500 or 35% of your gross monthly income, whichever is less; loan term: 90 days or less; renewals: one renewal; 24-hour cooling-off period after repaying a renewed loan. See the full Wisconsin payday loan rules.
What a $300 loan costs in Spencer
Wisconsin law sets no cap on payday loan fees, so prices vary widely by lender. Statewide, the typical APR on a $400 payday loan was 537% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Marathon County before you borrow
Before a payday loan, Spencer residents can usually find something cheaper:
- Local assistance through 211 covering Marathon 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 Spencer
The nearest larger city is Wausau, about 35 miles away. See all 561 Wisconsin 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 Spencer?
Yes. Payday loans are legal in Spencer under Wisconsin state law, and lenders must be licensed by the Wisconsin Department of Financial Institutions.
How much does a payday loan cost in Spencer?
Wisconsin law sets no cap on payday loan fees, so prices vary widely by lender. The typical statewide APR was 537% in 2023.
Where is the nearest credit union to Spencer?
No credit union is headquartered in Spencer, but Valley Communities Credit Union is based in Mosinee, also in Marathon 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)
- Wisconsin DFI — Licensed financial services FAQ
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary