Hughes FCU Offers Nationally Available 29-Month CD


Availability: Easy membership

In January, Hughes Federal Credit Union (Hughes FCU) raised the rates on all of its CDs, and at that time I wrote specifically about the 36-month CD, which has maintained its increased APY.

Hughes FCU is currently offering three different competitive 29-month CDs. While some credit unions have tiered APYs based on deposit levels for individual CDs, Hughes FCU has opted to have three categories (CD, $1K+; Mini-Jumbo CD, $50K+; and Jumbo CD, $99K+) for each length-of-term CD.

2.63%$99k-Hughes Federal Credit Union29 Month Jumbo CD
2.53%$50k-Hughes Federal Credit Union29 Month Mini-Jumbo CD
2.43%$1k-Hughes Federal Credit Union29 Month CD
Rates as of May 26, 2019.

As stated in Hughes FCU’s Truth In Savings document, the Early Withdrawal Penalty reads as follows:

The penalty of early redemption shall equal the greater of a loss of
$50.00 or 180 days dividends on a term greater than 367 days.


Headquartered in Tucson, Hughes Federal Credit Union’s field of membership is varied, with ways for almost anyone to qualify for membership.

Easy Membership: Making a small donation to any of three local non-profits (Friends of the Oro Valley Public Library, Friends of the Pima County Public Library, or Tucson Audubon Society) qualifies for membership eligibility, regardless of where you live.

Residency: Individuals who live, work, worship, or attend school in Tucson are eligible.

Employment: Individuals who are employed by Hughes FCU’s 800+ SEGs qualify for membership.

Relationship: Family members of current Hughes FCU members are also eligible to join.

Joining Hughes Federal Credit Union and/or opening a CD can be done by visiting of any of the seven Arizona branches located in Tucson (6) and Marana, or initiated online. Following the submission of the online application, the Credit Union will send the necessary forms to complete the transaction.

Credit Union Overview

Hughes Federal Credit Union (NCUA Certificate # 7531) has an overall health grade of "A+" at, with a Texas ratio of 3.35% (excellent) based on March 30, 2016 data. In the past year, Hughes FCU has increased its total deposits by $79.58 Million, an excellent annual growth rate of 11.21%. Please refer to our financial overview of Hughes Federal Credit Union for more details.

In 1951, Hughes Federal Credit Union was established by employees of the Hughes Missile Systems (now Raytheon Missile Systems). In 1992, Hughes FCU merged with Arizona Transportation Credit Union (Union Pacific Railroad Employees) to become the 6th largest credit union in Arizona. Today, Hughes FCU has over 95,000 members and assets in excess of $886 million.

How the CDs Compare

When compared to the similar length-of-term CDs tracked by that are available nationally, Hughes Federal Credit Union’s three 29-Month CDs currently place in the top five, regardless of minimum deposit.

The above rates are accurate as of 8/22/2016.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table or our Rates Map page.

gregk   |     |   Comment #1

A mild EWP, I suppose.
Sylvia   |     |   Comment #2
I inquired about membership from out of state a month or so ago.  Process sounded very tedious and slow, all based on paper and mail service.  It starts with the membership application which, while submitted online, requires manual approval.  If app is approved, Hughes sends back paperwork for you to complete and return by mail (no email or fax).  CDs require yet another app.  For those wondering, I was told they do a hard credit pull.  Another interesting piece of info re. EWP:  partial withdrawals are not allowed on CDs, it's all or nothing.
HughesFCU   |     |   Comment #3
Hi Sylvia, Thank you for your interest in joining Hughes Federal Credit Union. We realize that there’s room for improvement when it comes to our membership process and that’s why soon we’ll be implementing the option to open an account online (sans the paperwork by mail) making the process a lot faster and easier for new members. While it’s true that we don’t allow partial withdrawals on CDs (Term Shares), we do offer Term Share Pledge loans that can be used to cover what’s needed, helping you avoid closing and paying the penalty. Thanks again for your interest and if you ever have any questions, please feel free to contact us at or 800-253-8245. We’re always happy to help!
Hughes FCU Has Tiered APY 36-Month CD
Availability: Easy membership

While some credit unions have tiered APYs based on deposit levels for individual CDs, Hughes Federal Credit Union (Hughes FCU) has opted to have three categories (CD, $1K+; Mini-Jumbo CD, $50K+; and Jumbo CD, $99K+) for each length-of-term CD.

Over the weekend, Hughes FCU raised the rates on all its CDs, with the 36-month having the most competitive rates.

The 36-month CDs are also available as IRAs (Traditional, Roth, and SEP) with the same deposit tiers, but with higher APYs.

As stated in Hughes FCU’s Truth...

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Special 29-Month CD at Hughes Federal Credit Union in Tucson - Easy Membership

Hughes Federal Credit Union is offering an anniversary special certificate with a 29-month term. Three rates are available for different deposit sizes. The highest rate is 1.51% APY for a $99K deposit. There's also a 1.41% APY for a $50K deposit and 1.31% APY for a $1K deposit. These rates are listed in the credit union's term share account rates page as of 5/11/2012.

The credit union also has an interesting program for its term share accounts (CDs). It's called Buy Up Rate, and it allows you to add $10,000 or...

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