Calculator

Credit Union PAL Calculator

A payday alternative loan, or PAL, is a small loan from a federal credit union repaid over several months at a capped APR. This calculator compares the PAL payment and total against a payday advance on the same amount.

By the Paydayloaning Editorial Team · Last updated 2026-09-16

Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.

Enter your numbers and press Calculate. Nothing you type leaves your browser.

How this calculator works

Federal credit unions can offer payday alternative loans at a capped APR, repaid over several months rather than a single payday. That structure turns one large balloon payment into a series of smaller monthly payments.

The calculator runs the standard amortization formula on the PAL rate and term to get the monthly payment and total repaid, then compares it with the payday total and its annualised APR. The difference in total cost is shown directly, so you can see whether the credit-union route is cheaper for your amount.

PAL terms and eligibility are set by each credit union, so confirm the rate and term you qualify for before you rely on the result. Membership is usually required.

Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.

Frequently asked questions

What is a payday alternative loan?
A PAL is a small loan offered by federal credit unions as an alternative to a payday advance. It carries a capped APR and is repaid in installments over several months, rather than in one lump sum on payday.
Why is a PAL usually cheaper?
The APR is capped, and spreading repayment over months avoids the repeated flat fees that make payday loans so expensive when annualised. The calculator shows the difference in total cost for your amount.
Can anyone get a PAL?
No. PALs are offered by credit unions, and you generally need to be a member and meet the credit union's own eligibility rules. Ask the credit union what it requires before applying.
What if I need the money the same day?
A PAL usually takes longer to approve than a payday advance because it involves membership and underwriting. That speed difference is the main trade-off against the lower cost.

Related calculators

All calculators

Advertising disclosure: we may receive a referral fee. The lowest rates are only available to the most qualified applicants.

Compare personal loan offers