Hughes Federal Credit Union


Overview / Commentary
520-205-5593
971 W Wetmore Rd
Tucson, AZ 85705

Hughes Federal Credit Union is headquartered in Tucson and is the 5th largest credit union in the state of Arizona. It is also the 235th largest credit union in the nation. It was established in 1951 and as of December of 2019, it had grown to 260 employees and 131,706 members at 8 locations. Hughes Federal Credit Union's money market rates are 70% 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

Related Posts

Hughes Federal Credit Union Has Rate Leading 36-Month Jumbo CD - 4/9/2020

Hughes Federal Credit Union (easy membership) 36-month CD has tiered APYs: Jumbo, 2.22% APY, $99k; Mini-Jumbo, 2.12% APY, $50k; and CD, 2.02% APY, $1k.

Rate Change At Hughes Federal Credit Union - 12/3/2019

36 month jumbo cd now 2.22% APY (was 2.79% APY)

Hughes Federal Credit Union 36-Month Jumbo CD Earns 2.79% APY - 11/22/2019

Hughes Federal Credit Union (easy membership) has competitive 36-month CDs: Jumbo, 2.79% APY, $99k; Mini-Jumbo, 2.69% APY, $50k; and CD, 2.58% APY, $1k.

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Reviews (8)

Hughes Federal CU

Posted by: |

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.

My Experience Was Five Star.

Posted by: |

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.

Great Rates And Experience.

Posted by: |

I opened several CD accounts at Hughes in August. (Regular, IRA, and Roth). If they continue their 3 year promotion I may open another.Their rates are excellent. I like that there's a representative assigned to me for personal contact by phone or e-mail and she usually gets back to me within a day with good communication to my many questions. I like their excellent health rating. Their website is good. When I couldn't find maturity dates.my representative let me know quickly. To add POD beneficiaries they mailed a form that I had to have notarized and mail back. I don't mind the added security. I'm guessing that they're fairly inundated with customers due to their promotion right now which is understandable. I find that if you're chasing the best rates in the country you have to be a little more patient due to that.

Good But Some Different Online Procedures

Hughes had a great 3 year CD rate but it took me a while to get past my two concerns that it was not a legitimate credit union.

First, when I applied online, I entered my external bank's routing number and my account number. I expected a message that they would send two micro deposits to the external bank, but they don't do this. They just transfer the money via ACH. This caused me some concern since I look upon the micro deposits as partial proof that they are a legitimate financial institution.

Second, in order to send my money on time to get the higher rate, I was going to wire it. Their wire instructions use a third party "Catalyst Corporate Federal Credit Union" as an intermediary, which I've never experienced before.
So I Googled "Catalyst" and they are a sort of "back room" service provider to many credit unions.

Then I emailed Catalyst to confirm Hughes was a member and the answer was to contact Hughes. That was not comforting.

End of story, I found I was going to have to use the CD funds for another more immediate purpose, so I didn't fund the CD by wire.

If I lived in Tucson, and could bank in person, I'd certainly do so. But their internet procedures are just strange enough to create concerns working with them online. The reps on the phone are nice though.

Stuck In The Dark Ages

Posted by: |

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.

Awful Process To Open An Account

Posted by: |

They make it very difficult to set up and fund an account. I filled out the application, provided copies of drivers licenses, provided all the additional info they asked for in multiple requests, and that still wasn't good enough. It's like I was asking them to send me money... it was a nightmare dealing with them. I canceled my application and will never deal with them again.

Horrible Customer Service

Posted by: |

Called to open an account. Over 10 minutes on hold, got a third party vendor who knew nothing, said she could take a message for bank to call me back, then hung up on me when I tried to ask more questions.

Another Questionable Institution?

Posted by: |

Happy to do the very first review. After collecting all my information during the application time they simply sent me a cold message (not even bothering calling) that they cannot open a savings account! How ridiculous and such a waste of time. Do not bother.

Follow up from previous review above: they are still ridiculous, I applied to open an account for a 2nd time (based on their advise), account still not opened after 1 week. Obviously they do not need my money or any one else's for that matter. Blaming a "3rd party" for the call center experience is also a ridiculous and simply pathetic excuse (and obviously they have not improved that). I suggested to them that if they cannot handle new applications they should not then allow people to apply - it is a simple as that!



Health

Health Grade Components

Overall
NCUA #7531
Year Chartered1951
Employees260
Primary Regulator
Profit Margin
Return on Assets - YTD0.78%
Return on Equity - YTD8.31%
Annual Interest Income$58.8MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.39B$1.14B
LoansQ4 2019vs Q4 2018$1.01B$1.05B
DepositsQ4 2019vs Q4 2018$1.25B$1.02B
Equity CapitalQ4 2019vs Q4 2018$128.0MM$117.4MM
Loan Loss AllowanceQ4 2019vs Q4 2018$13.4MM$14.7MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$5.9MM$7.2MM
Real Estate OwnedQ4 2019vs Q4 2018$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Hughes Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

Hughes Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$100-Traditional IRA
0.50%$100-SEP IRA
0.50%$100-ROTH IRA
0.25%--Health Savings Account
0.10%$50-Main Share
0.10%--Holiday Club
0.10%--Daily Savings
0.10%--You Name It

Hughes Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$150k-Ultimate Money Market Savings
0.50%$75k-Premium Money Market Savings
0.25%$1k-High Yield Money Market Savings

Hughes Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%--Checking PLUS
0.05%--Checking

Hughes Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.77%$99k-36 Month Jumbo CD
1.66%$50k-36 Month Mini-Jumbo CD
1.56%$1k-36 Month CD
1.36%$99k-29 Month Jumbo CD
1.26%$99k-24 Month Jumbo CD
1.26%$50k-29 Month Mini-Jumbo CD
1.16%$50k-24 Month Mini-Jumbo CD
1.16%$1k-29 Month CD
1.06%$1k-24 Month CD
0.95%$99k-12 Month Jumbo CD
0.85%$50k-12 Month Mini-Jumbo CD
0.75%$1k-12 Month CD
0.70%$99k-6 Month Jumbo CD
0.60%$50k-6 Month Mini-Jumbo CD
0.60%$100-36 Month Youth CD
0.50%$1k-6 Month CD
0.50%$100-24 Month Youth CD
0.30%$100-12 Month Youth CD
0.20%$100-6 Month Youth CD

Hughes Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.87%$99k-36 Month Jumbo IRA
1.82%$50k-36 Month Mini-Jumbo IRA
1.77%$1k-36 Month IRA
1.31%$99k-24 Month Jumbo IRA
1.26%$50k-24 Month Mini-Jumbo IRA
1.21%$1k-24 Month IRA
0.95%$99k-12 Month Jumbo IRA
0.90%$50k-12 Month Mini-Jumbo IRA
0.85%$1k-12 Month IRA
Locations


Hughes Federal Credit Union Locations
Branch Office951 E Hermans RdTucson, AZ 85756-9000
Branch Office8701 S Kolb RdTucson, AZ 85756
Branch Office971 W Wetmore RdTucson, AZ 85705-1551
Branch Office7970 N Thornydale RdTucson, AZ 85741
Branch Office3131 E Speedway BlvdTucson, AZ 85716
Branch Office280 N Pantano RdTucson, AZ 85710
Branch Office7820 N. Cortaro RdMarana, AZ 85743
Branch Office9036 S. Houghton Rd.Tucson, AZ 85747

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