Albion at a glance
- Population: 5,730, the 153rd-largest community in New York out of 595 (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 5,665 (US Census Bureau).
- 2020 to 2023 change: an increase of about 1.1% since the 2020 count (US Census Bureau).
- Rank among New York places: 153rd of 595 by population (US Census Bureau, Vintage 2023).
- Size percentile: larger than about 74% of the Census places in New York (US Census Bureau).
- Coordinates: it sits at 43.2460, -78.1902 in the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Medina, NY (10 mi); Brockport, NY (13 mi); Batavia, NY (17 mi); Hilton, NY (20 mi); Lockport, NY (26 mi) (US Census Bureau).
- Nearest smaller towns: Holley, NY (8 mi); Lyndonville, NY (11 mi); Elba, NY (12 mi) — US Census Bureau populations.
What a personal loan costs in Albion
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
New York lending rules that apply in Albion
Read the table as the compliance picture for a lender serving Albion: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Criminal usury in the second degree (Penal Law 190.40) | Interest rate exceeding 25% per annum; class E felony Source says: "at a rate exceeding twenty-five per centum per annum or the equivalent rate for a longer or shorter period" | New York State Senate (Open Legislation) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 16% per annum maximum civil rate (Banking Law 14-a; General Obligations Law 5-501) Source says: "The maximum rate of interest provided for in section 5-501 of the general obligations law shall be sixteen per centum per annum." | New York State Senate (Open Legislation) as of 2026-09-16 |
| Payday lending status | Illegal in New York State, in person, by telephone, or over the Internet Source says: "Payday loans are illegal in New York State." | New York State Department of Financial Services as of 2026-09-16 |
| Small-loan / installment lender licensing | Licensed Lender license required (Banking Law Article 9, sections 340-361); administered via NMLS Source says: "The Department of Financial Services uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage the Licensed Lender License." | New York State Department of Financial Services as of 2026-09-16 |
| State lending regulator | New York State Department of Financial Services (DFS) Source says: "Notify the Department of Financial Services at (800) 342-3736 if you believe payday loans are being made in New York" | New York State Department of Financial Services as of 2026-09-16 |
How to compare offers in Albion
Before you share your details with a lender in Albion:
- 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 New York using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.