Credit union loan rates in Jamaica, as the credit unions publish them.
Credit unions publish less than banks do. Here is every car, home and personal loan row we could read at the credit unions we have checked, the day we read it, and a plain note where there is no rate to show.
Figures checked on
We read each lender’s own page and check them all again every month, so this page is refreshed monthly. The table shows the day we read each row.
Lowest published rate, new cars
7.59%
JDF Credit Union: New vehicles, loans up to J$9 million. Source.
Lowest published rate, used cars
9.85%
JDF Credit Union: Vehicles 1 to 3 years old. You need shares worth 5% of the loan. Source.
These are the lowest rates each credit union shows, with the conditions beside them. A credit union lends to its members, and several ask you to hold shares worth a part of the loan. For banks, see the car loan rates page, which sets all the lenders side by side.
Car loans
| Lender | Rate a year | Conditions | Source |
|---|---|---|---|
| C&WJ Co-operative Credit UnionNew car loan | From 7.99% | Up to 100% financed, up to 10 years. 100% on brand new or newly imported vehicles. The term depends on the age of the vehicle. COK Sodality merged into C&WJ on 1 December 2024. | |
| First Heritage Co-operative Credit UnionUsed car loan | Not published | up to 10 years. Vehicles of any age. Up to 120 months, depending on the vehicle's age.First Heritage's address is fhccu.com. The site firstheritagecu.com is not this credit union. | |
| Jamaica Police Co-operative Credit UnionUsed car loan | Not published | Up to 100% financed, up to 10 years. Vehicles up to 10 years old. 100% only on vehicles up to 2 years old. You need shares worth 5% of the loan.The page gives terms but no rate. | |
| JDF Credit UnionNew vehicles, loans up to J$9 million | 7.59% | Up to 100% financed, up to 10 years. For loans up to J$9 million. | |
| JDF Credit UnionNew vehicles, loans from J$9 million to J$13 million | 9.09%Lender's pages differ | Up to 100% financed, up to 10 years. For loans from J$9 million to J$13 million.JDF's page says it lends at most J$9 million, but it also lists this rate for bigger loans. Read from the text of JDF's page, which has no date. Check the table on the page before relying on it. | |
| JDF Credit UnionNew vehicles, loans above J$13 million | 12.00%Lender's pages differ | Up to 100% financed, up to 10 years. For loans above J$13 million.JDF's page says it lends at most J$9 million, but it also lists this rate for bigger loans. Read from the text of JDF's page, which has no date. Check the table on the page before relying on it. | |
| JDF Credit UnionVehicles 1 to 3 years old | 9.85% | Up to 95% financed. You need shares worth 5% of the loan. | |
| JDF Credit UnionVehicles 4 to 5 years old | 9.99% | Up to 95% financed, up to 8 years. You need shares worth 5% of the loan. | |
| JDF Credit UnionVehicles 6 to 8 years old | 11.50% | Up to 90% financed, up to 6 years. You need shares worth 10% of the loan. | |
| JDF Credit UnionVehicles 9 to 13 years old | 13.50% | Up to 80% financed, up to 5 years. 5 years for vehicles 9 to 11 years old, 3 years for 12 to 13. You need shares worth 20% of the loan. |
JDF Credit Union’s page says it lends at most J$9 million, yet it also lists rates for bigger loans, so those rows carry a note. Our reading of its table came from the text of the page, so check the table on JDF’s own site before you rely on it.
Home loans
| Lender | Rate a year | Conditions | Source |
|---|---|---|---|
| C&WJ Co-operative Credit UnionMortgage | From 8.49%Lender's pages differ | Up to 90% financed, up to 20 years.C&WJ's standard mortgage page says up to 90% over 20 years. Its promotion, running until 30 November 2026, offers up to 95% (including your NHT benefit) over up to 40 years at the same rate. | |
| C&WJ Co-operative Credit UnionMortgage loan promotion | 8.49% | Up to 95% financed, up to 40 years. 95% includes your NHT benefit. The promotion runs from 1 March to 30 November 2026. | |
| First Heritage Co-operative Credit UnionMortgage | Not published | up to 25 years. Up to 300 months, or until retirement.The page gives terms but no rate. |
C&WJ’s standard mortgage page and its promotion don’t agree on how much it lends or for how long. The promotion runs until 30 November 2026. Check the credit union before you plan around either.
Personal loans
| Lender | Rate a year | Conditions | Source |
|---|---|---|---|
| C&WJ Co-operative Credit UnionUnsecured loan promotion | Not published | up to 5 years. Up to J$5 million, for civil servants and staff of sponsor companies.The rate is described only as "Competitive". |
How credit union loans differ from bank loans
You have to be a member to borrow, and joining usually means buying shares. The loan itself can also ask for shares. At Jamaica Police CCU you need shares worth 5% of an auto loan, and at JDF Credit Union 5% to 20% depending on the car’s age. Vehicles up to 10 years old. 100% only on vehicles up to 2 years old. You need shares worth 5% of the loan.
Some lenders quote a flat rate, which charges interest on the whole loan for the whole term, instead of a reducing-balance rate. The two aren’t the same number. If a quote doesn’t say which it is, ask, and try both in the loan calculator.
Which credit unions are here
This page covers C&WJ, First Heritage, Jamaica Police CCU, JDF Credit Union. COK Sodality merged into C&WJ on 1 December 2024; the Gleaner reported it, and COK’s old web address now leads to C&WJ. Jamaica has more credit unions than the ones we have read so far. We add one when we have read its own loan pages. First Heritage’s address is fhccu.com. The site firstheritagecu.com is unrelated to it.
Lender pages we read
- C&WJ Co-operative Credit Union: motor vehicle purchase loanOfficial source · read on
- C&WJ Co-operative Credit Union: mortgage loanOfficial source · read on
- C&WJ Co-operative Credit Union: mortgage loan promotionOfficial source · read on
- C&WJ Co-operative Credit Union: unsecured loan promotionOfficial source · read on
- First Heritage Co-operative Credit Union: auto loansOfficial source · read on
- First Heritage Co-operative Credit Union: home loansOfficial source · read on
- Jamaica Police Co-operative Credit Union: auto loansOfficial source · read on
- JDF Credit Union: motor vehicle loanOfficial source · read on
Questions
Do credit unions give car loans in Jamaica?
Yes. C&WJ, First Heritage, Jamaica Police CCU, JDF Credit Union all have car loan pages, and the first table above lists them. The lowest published rates we found are 7.59% for a new car and 9.85% for a used one, both at JDF Credit Union. Credit unions lend to their members.
Are credit union loans cheaper than bank loans?
On published rates, for car loans, the credit unions' lowest are lower: 7.59% against 8.50% for a new car and 9.85% against 10.10% for a used one. Those are the bottoms of ranges, they come with conditions, and credit unions ask you to be a member and often to hold shares. NCB and several other lenders publish no rate to compare.
Do I need shares to get a credit union loan?
Some credit unions ask for it. Jamaica Police CCU asks for shares worth 5% of an auto loan. JDF Credit Union asks for 5% of the loan on a car 1 to 3 years old, 10% on one 6 to 8 years old and 20% on one 9 to 13 years old. Check with the credit union you would join.
What happened to COK Sodality?
COK Sodality merged into C&WJ Co-operative Credit Union on 1 December 2024, and cokcu.com now sends you to cwjcu.com. People still search for COK car loans. The C&WJ rows are the ones to read.
How often is this page updated?
Every month. We read each credit union's own page again and change any row that has moved. This page was last checked on 2 October 2026, and each row shows the day we read it.
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