Borrowing in Hay Lakes, Alberta

With 456 residents counted in the 2021 Census, Hay Lakes sits inside Alberta's provincial lending framework.

The Alberta rules that apply

Consumer credit in Alberta is licensed by the provincial or territorial regulator, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators.

Payday lending is licensed in Alberta; the federal Payday Lending Regulations (SOR/2024-114) publish a cap of $14 per $100 advanced, and notes that a province may set a lower figure.

This is a small community by population, inside the lowest band used on this site, and the provincial framework applies without variation.

The census figures for Hay Lakes

456 people were counted in Hay Lakes in the 2021 Census. The census records a land area of 0.6 square kilometres for Hay Lakes.

That gives a density of 772.9 people per square kilometre, rounded to one decimal place.

The community is the 258th largest place in the province within this census set.

Hay Lakes sits at rank 258 among the 361 Alberta places here, with 456 residents in the 2021 Census.

Products compared here

The product pages behind this city cover the following borrowing categories, among the 20 products compared nationally.

• Collateral loans: Borrowing against an asset a lender will hold, from vehicles to savings, and what happens on default.
• Car loans: Financing a vehicle, including the effect of trade-in equity, negative equity and dealer-arranged credit.

How borrowing works locally

An application usually asks for identification, income evidence, banking details and a statement of obligations.

A deposit or trade-in reduces the amount financed and therefore the interest charged over the term. A longer amortisation lowers each payment and raises the total interest paid over the life of the loan.

Readers comparing Hay Lakes with another community can use the same four census fields.

Hay Lakes sits at rank 258 within Alberta in this data set, and the provincial rules apply as they do elsewhere.

Nothing on the Hay Lakes page is estimated; the population and land area come from Statistics Canada's 2021 Census of Population.

The density figure for Hay Lakes, 772.9 people per square kilometre, is calculated from the population and land area above.

For Hay Lakes, the two census fields above are the only local statistics used anywhere on the page.

Hay Lakes is one of 361 covered Alberta places, counted at 456 residents with a land area of 0.6 square kilometres.

Where a figure for Hay Lakes could not be verified, the page names the publisher instead of printing a number.

Hay Lakes appears in the census record with 456 residents, and the density of 772.9 people per square kilometre follows from it.

The Hay Lakes page follows the same structure as every other place page, with population, land area, density and rank.

Hay Lakes ranks 258 by 2021 Census population among the covered places in Alberta.

At 456 residents in the 2021 Census, Hay Lakes is listed alongside the other covered places in Alberta.

loanmoose.ca is not a lender and does not make credit decisions. The lowest rates are only available to the most qualified applicants.

The 2021 Census of Population published by Statistics Canada is the source for population and land area; the federal Payday Lending Regulations (SOR/2024-114) are the source for payday rules.

The same structure is used for every place covered, so two communities can be compared field by field: population, land area, density, rank, and the provincial rules.