Borrowing in Island Lake, Alberta

Island Lake is one of the Alberta places covered here, with 174 residents recorded in the 2021 Census and the same provincial rulebook as the rest of the province.

The Alberta rules that apply

The body that licenses consumer lending in Alberta is the regulator named on the federal Payday Lending Regulations (SOR/2024-114)'s list of provincial and territorial regulators.

The federal Payday Lending Regulations (SOR/2024-114) count Alberta among the provinces with payday lending rules, where the published maximum cost of borrowing is $14 per $100 advanced under SOR/2024-114.

Communities of this size are listed here with population, land area and density, and the lending rules remain provincial.

How borrowing works locally

Variable-rate products move with a reference rate, while fixed-rate products set the price for a defined term.

Payment history is reported to credit agencies, and that record is what builds or damages a credit file over time. A secured product gives the lender a claim on a named asset, which is why its price is usually lower than an unsecured equivalent.

The census figures for Island Lake

174 people were counted in Island Lake in the 2021 Census. Its land area is 1.6 square kilometres.

Population divided by land area produces a density of 112.3 people per square kilometre.

Among covered Alberta places, Island Lake sits at rank 323 by population.

Island Lake therefore appears at rank 323 of 361 covered Alberta places, with a density of 112.3 people per square kilometre.

Products compared here

Two of the 20 covered products appear below, each with the purpose the product is designed for.

• Home equity loans: Converting property equity into credit, and the difference between a lump sum and a revolving limit.
• Payday loans: Small, short-term advances against a pay date, the most tightly regulated product in Canadian consumer credit.

The land area recorded for Island Lake is 1.6 square kilometres, and the population is 174 residents in the 2021 Census.

Island Lake sits at rank 323 within Alberta in this data set, and the provincial rules apply as they do elsewhere.

Island Lake appears in the census record with 174 residents, and the density of 112.3 people per square kilometre follows from it.

Readers comparing Island Lake with another community can use the same four census fields.

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

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

At 174 residents in the 2021 Census, Island Lake is listed alongside the other covered places in Alberta.

Island Lake ranks 323 by 2021 Census population among the covered places in Alberta.

Island Lake is one of 361 covered Alberta places, counted at 174 residents with a land area of 1.6 square kilometres.

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

The density figure for Island Lake, 112.3 people per square kilometre, is calculated from the population and land area above.

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

Population and land area figures come from Statistics Canada's 2021 Census of Population; regulatory statements are attributed to the federal Payday Lending Regulations (SOR/2024-114).

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.