Arizona-based Hughes Federal Credit Union (Hughes FCU) has raised the rates on most of its CDs, with the 36-month having the most competitive APYs: Jumbo CD, 3.10% APY ($99k); 36-month Mini-Jumbo CD, 2.99% APY ($50k); and 36-month CD, 2.89% APY ($1k).
|3.10%||$99k||-||Hughes Federal Credit Union||36 Month Jumbo CD|
|2.99%||$50k||-||Hughes Federal Credit Union||36 Month Mini-Jumbo CD|
|2.89%||$1k||-||Hughes Federal Credit Union||36 Month CD|
In the past eight months, there have been three rates increases for the 36-month Jumbo CD, Mini-Jumbo CD, and CD, adding 113, 118, and 112 bps, respectively.
The 36-month CDs are also offered as IRAs (Traditional, Roth, SEP) at higher rates: Jumbo, 3.20% APY ($99k); 36-month Mini-Jumbo, 3.15% APY ($50k); and 36-month, 3.10% 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.
Beneficiary(es) can be named and Social Security numbers are required. If multiple beneficiaries are be named, equal shares will be assigned to each.
Headquartered in Tucson, Arizona, Hughes Federal Credit Union’s field of membership (FOM) is varied, with ways for almost anyone to qualify for membership.
Easy Membership Requirement: Making a $10 donation to any of four local 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.
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 then 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 3.56% (excellent) based on March 31, 2019 data. In the past year, Hughes FCU has increased its total deposits by $9.05 million, an above average annual growth rate of 0.87%. 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 6th largest credit union, with nearly 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 available nationally, Hughes Federal Credit Union’s 36-month CD, Mini-Jumbo CD, and Jumbo CDs currently rank in the top eight, regardless of minimum deposit requirements.
The above rates are accurate as of 6/6/2019.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.