Hughes Federal Credit Union is headquartered in Tucson and is the 5th largest credit union in the state of Arizona. It is also the 233rd largest credit union in the nation. It was established in 1951 and as of March of 2020, it had grown to 254 employees and 135,078 members at 7 locations. Hughes Federal Credit Union's money market rates are 14% higher than the national average, and it has an A health rating.
Field of Membership Restrictions
Hughes Federal Credit Union is open to anyone by making a $10 donation to one of the following community Special Interest Groups: Friends of the Oro Valley Public Library, Friends of the Pima County Public Library, Friends of Green Valley Library, or Friends of Kirk-Bear Canyon Library. Membership is also open to those who live, work, worship, or attend school in Tucson, Arizona. Employees/retirees/students of more than 800 Sponsor Companies, including Hughes Aircraft, the State of Arizona, and the University of Arizona are also eligible to join. (Complete details listed on the first page of the online membership application.)
See current membership details
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11/22 - Hughes Federal Credit Union 36-Month Jumbo CD Earns 2.79% APY
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6/6 - Hughes Federal Credit Union 36-Month Jumbo CD Earns 3.10% APY
Nice Customer Service And Communication
HFCU had some nice CD rates in June 2020 but, I didn't apply online until the 29th. However, they contacted me by phone AND email, explained I could wire in the monies and what credit bureau to unfreeze. They even opened the CD to get the better June rate before they even ACH'd my membership account. I was 3 time zones away but, I had the CD in less than 16 hours! Website is a bit confusing but, it works. Recommened if they continue the good rates!
My Experience Was Five Star.
I opened two Roth IRAs in August and was so impressed with a technically advanced application process that I felt my investment would be secure at this Credit Union. The representative helping me saw that the my funds were transferred properly and in a timely manner, which is so important with IRAs. I experienced good communications by very friendly, knowledgeable and helpful people. I feel very fortunate that these CDs (great rates) became available when I had other CDs maturing.
Stuck In The Dark Ages
In trying to transfer my CD funds from Hughes to another credit union, Hughes refused to accept my request by either fax or by secure email from their website. They insisted on hardcopy requests by US Mail. Even asking for a supervisor/manager to override this policy, I was again refused. This is the 21st Century now. This is on top of their co-mingling of my IRA and personal funds against my specific instructions to not do so. Clueless people, a clueless organization, customer-unfriendly policies. Caveat Emptor.
Hughes Federal CU
Just Kudos to Jennifer T who helped me set up
a 36 mo jumbo CD. I had applied and was approved
the day before a rate change. She was very personable and the rate was honored. The set up
took a few days not due to inefficiency but to
their thoroughness--one of the question had to
do with an event 40 years ago!--so I guess if you
do not remember events in your past that can
lead to frustrations and denial of your application.
Very competitive for CD's.
Data as of Q1 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 7531 |
| Year Chartered | 1951 |
| Employees | 254 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.63% |
| Return on Equity - YTD | 6.91% |
| Annual Interest Income | $15.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2020vs Q1 2019 | $1.46B$1.18B |
| Loans | Q1 2020vs Q1 2019 | $1.05B$1.06B |
| Deposits | Q1 2020vs Q1 2019 | $1.32B$1.05B |
| Equity Capital | Q1 2020vs Q1 2019 | $130.3MM$118.5MM |
| Loan Loss Allowance | Q1 2020vs Q1 2019 | $12.7MM$14.9MM |
| Unbacked Noncurrent Loans | Q1 2020vs Q1 2019 | $5.6MM$4.8MM |
| Real Estate Owned | Q1 2020vs Q1 2019 | $0$0 |