Union City at a glance
- Population: about 1,695, 278th by size in Michigan of 533 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 1,719 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: about 1.4% lower than the 2020 Census base (US Census Bureau).
- Rank among Michigan places: 278th largest of 533 (US Census Bureau).
- Size percentile: roughly 48% of places in Michigan rank below it by population (US Census Bureau).
- Coordinates: 42.0667, -85.1432 (US Census Bureau Gazetteer).
- Nearest larger cities: Coldwater, MI (11 mi); Bronson, MI (14 mi); Marshall, MI (16 mi); Battle Creek, MI (17 mi); Springfield, MI (18 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Burlington, MI (4 mi); Athens, MI (5 mi); Sherwood, MI (7 mi) — US Census Bureau populations.
What a personal loan costs in Union City
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Michigan lending rules that apply in Union City
The Michigan rate caps and licensing rules that reach Union City are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Legal and licensed — deferred presentment service transactions (2005 PA 244; MCL 487.2121 et seq.), licensed and regulated by DIFS Source says: "AN ACT to regulate the business of providing deferred presentment service transactions; to require the licensing of providers of deferred presentment service transactions" | Michigan Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | License required from the commissioner to make regulated loans (Regulatory Loan Act, MCL 493.1 et seq.) Source says: "a person shall not engage in the business of making loans of money ... without first obtaining a license from the commissioner" | Michigan Legislature as of 2026-09-16 |
| State lending regulator | Michigan Department of Insurance and Financial Services (DIFS) Source says: ""Department" means the department of insurance and financial services" | Michigan Legislature as of 2026-09-16 |
| Regulated lender interest/finance charge cap | 25% per annum (Credit Reform Act, MCL 445.1854(1)) Source says: "may charge, collect, and receive any rate of interest or finance charge for an extension of credit not to exceed 25% per annum" | Michigan Legislature as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 7% per annum maximum by written agreement; 5% legal rate (MCL 438.31) Source says: "it shall be lawful for the parties to stipulate in writing for the payment of any rate of interest, not exceeding 7% per annum" | Michigan Legislature as of 2026-09-16 |
How to compare offers in Union City
The order below is a sensible way to approach a loan in Union City:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Michigan using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.