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.
|1.87%||$99k||-||Hughes Federal Credit Union||36 Month Jumbo CD|
|1.77%||$50k||$99k||Hughes Federal Credit Union||36 Month Mini-Jumbo CD|
|1.66%||$1k||$50k||Hughes Federal Credit Union||36 Month CD|
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 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 six Tucson branches, 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 DepositAccounts.com, with a Texas ratio of 3.60% (excellent) based on September 30, 2015 data. In the past year, Hughes FCU has increased its total deposits by $46.62 Million, an excellent annual growth rate of 6.93%. 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 90,000 members and assets in excess of $808 Million.
How the CDs Compare
Regardless of minimum deposit, when compared to the 160 similar length-of-term CDs tracked by DepositAccounts.com that are available nationally, Hughes Federal Credit Union’s three 36-Month CDs currently place in the top four.
The above rates are accurate as of 1/6/2016.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.