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 236th largest credit union in the nation. It was established in 1951 and as of December of 2020, it had grown to 235 employees and 149,248 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

Hughes Federal Credit Union

Posted by: |

I composed this message about a month ago, but I am not positive that it went through. I am re-entering it now. There were a series of fo-pas that happened, which resulted in Hughes reporting non-payment to my credit on at least 2 occasions. I was given the wrong information to send my online bill pay payments to. I was in fact making my payments, but Hughes never received them! Needless to say, I was super upset. During my subsequent phone calls to Cerner, a number of employees helped me, they were so kind, knowledgeable, cancelled the payments that went out to the wrong location, and I was refunded within 2-3 days. I spoken with Kristen who went to her manager Amanda and explained my situation. All employees in my file over the last couple of months, have helped me more than I can say. Amanda also ended up looking into details from a car dealership for me and involved a VP to help my situation. I know her name, but wasn't sure if I should list it. Hughes treated me like a human, like a person who was suffering, and they all went above and beyond to correct the situation. Amanda is reversing my derogatory credit marks, my husband and I were approved for a car loan, and I would recommend HFCU to ANYONE at ANYTIME! I feel that Kristen, Amanda, and everyone I spoke with deserves praise for their, beyond exceptional customer service. Not just that, but literally changing my life and my credit and my situation overall. I will stay with HFCU, hopefully forever. My opinion about Hughes and Credit Unions in general has changed for the better permanently due to my positive experiences recently with Hughes! Thank you so very much to everyone who helped me and my family to reverse every negative thing that occurred. Thank you, thank you, thank you! Hughes....YOU ROCK!!! I am happy to elaborate more for anyone who wants to contact me with further questions!

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.

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Health

Health Grade Components

Overall
NCUA #7531
Year Chartered1951
Employees235
Primary Regulator
Profit Margin
Return on Assets - YTD0.97%
Return on Equity - YTD10.91%
Annual Interest Income$65.8MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$1.65B$1.39B
LoansQ4 2020vs Q4 2019$1.29B$1.01B
DepositsQ4 2020vs Q4 2019$1.50B$1.25B
Equity CapitalQ4 2020vs Q4 2019$143.8MM$128.0MM
Loan Loss AllowanceQ4 2020vs Q4 2019$11.6MM$13.4MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$7.4MM$5.9MM
Real Estate OwnedQ4 2020vs Q4 2019$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
0.25%$100-Traditional IRA
0.25%$100-SEP IRA
0.25%$100-ROTH IRA
0.15%--Health Savings Account
0.05%$50-Main Share
0.05%--Holiday Club
0.05%--Daily Savings
0.05%--You Name It

Hughes Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$150k-Ultimate Money Market Savings
0.25%$75k-Premium Money Market Savings
0.15%$1k-High Yield Money Market Savings

Hughes Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.01%--Checking PLUS
0.01%--Checking

Hughes Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.85%$99k-36 Month Jumbo CD
0.80%$50k-36 Month Mini-Jumbo CD
0.75%$1k-36 Month CD
0.70%$99k-24 Month Jumbo CD
0.65%$50k-24 Month Mini-Jumbo CD
0.60%$1k-24 Month CD
0.55%$99k-12 Month Jumbo CD
0.50%$50k-12 Month Mini-Jumbo CD
0.50%$100-36 Month Youth CD
0.45%$1k-12 Month CD
0.40%$99k-6 Month Jumbo CD
0.40%$100-24 Month Youth CD
0.35%$50k-6 Month Mini-Jumbo CD
0.30%$1k-6 Month CD
0.25%$100-12 Month Youth CD
0.15%$100-6 Month Youth CD

Hughes Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.95%$99k-36 Month Jumbo IRA
0.90%$50k-36 Month Mini-Jumbo IRA
0.85%$1k-36 Month IRA
0.80%$99k-24 Month Jumbo IRA
0.75%$50k-24 Month Mini-Jumbo IRA
0.70%$1k-24 Month IRA
0.65%$99k-12 Month Jumbo IRA
0.60%$50k-12 Month Mini-Jumbo IRA
0.55%$1k-12 Month IRA
Locations


Hughes Federal Credit Union Locations
Branch Office951 E Hermans RdTucson, AZ 85756-9000
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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