Hughes Federal Credit Union 36-Month Jumbo CD Earns 2.79% APY

I last wrote about Arizona-based Hughes Federal Credit Union (Hughes FCU) in June when most of its CD rates had been raised. At that time, the three different 36-month CDs offered the most competitive APYs in the product line, with all three ranking in the top eight APYs for nationally available 3-year CDs. Although the 36-month rates dropped by approximately 30 bps in the beginning of October, the three CDs are now better positioned, ranking in the top five.

The 36-month CDs are also available as IRAs (Traditional, Roth, SEP), but offering higher rates: Jumbo IRA, 2.89% APY ($99k); Mini-Jumbo IRA, 2.84% APY ($50k); and IRA, 2.79% APY ($1k).

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. Partial withdrawals are not allowed.

Funding a CD can be done by ACH, wire transfer, or by check. Maturing funds will be distributed by cashier’s check or transferred into a Main Share Savings Account. There is a ten day grace period before a CD automatically renews.

Beneficiary(es) can be named and Social Security numbers are required. If multiple beneficiaries are named, equal shares will be assigned.

Availability

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

Easy Membership Requirement: Making a $10 donation to any of four Tucson area non-profits (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) qualifies for membership eligibility, regardless of where you live.

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

Employment: Individuals 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 online, or at any of the eight Arizona branches located in Tucson (7) and Marana.

A Main Share Savings Account establishes your membership
at Hughes. An initial deposit of $50.00 is required upon opening.

Hughes FCU participates in CO-OP Shared Branch network, giving its members access to more than 5,000 shared branches across the country.

Credit Union Overview

Hughes Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.48% (excellent) based on June 30, 2019 data. In the past year, Hughes FCU has increased its total deposits by $23.26 million, an above average annual growth rate of 2.27%. Please refer to our financial overview of Hughes Federal Credit Union (NCUA Charter # 7531) for more details.

Hughes Federal Credit Union was established in 1951 by employees of the Hughes Missile Systems (now Raytheon Missile Systems). In 1992, Hughes FCU merged with Arizona Transportation Credit Union, which served the employees of the Union Pacific Railroad and more than 400 SEGs in Phoenix and Tuscon. The FOM was expanded in 2001 to included the residents of Tucson. Hughes FCU is currently Arizona’s sixth largest credit union, with more than 129,000 members and assets in excess of $1.1 billion.

How the CDs Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are nationally available, Hughes Federal Credit Union’s 36-month CD, Mini-Jumbo CD, and Jumbo CD APYs currently rank in the top five, regardless of minimum deposit requirements.

The above rates are accurate as of 11/22/2019.

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