What is a Credit Union?
A credit union is similar to a bank in that we offer many of the same services as a bank. But we are also very different than a bank because we are a non-profit and we are owned by our members, not stockholders like banks. The money that is earned by the Credit Union from you having your account here is actually given back to you in the way of higher savings rates and lower loan rates.  Credit unions have a direct and positive impact in the community in which they serve. That’s why many people choose to save their money at their credit union and get a loan through their credit union. These people usually have something in common, such as their place of work, which makes them eligible to join the credit union. Today, credit unions have much more than just savings and loans and almost anyone can join! Here’s how a credit union works:

You and other members put money into savings accounts, known at credit unions as Share Accounts. Members who save or deposit money at the credit union are called Shareholders because they own a share of the credit union. The money that is put in savings or share accounts is then loaned out to other members to buy cars, motor homes, boats or other expensive items. Members who get a loan then pay back the loan amount plus an extra amount of money called interest. Then you and other members get money in the form of dividends from the credit union for letting it use your money. These dividends are then periodically added to your savings account, which helps it grow.

How Can I Join?
It’s easy to join Hughes Federal Credit Union. By having a relative work at one of the more than 600 employers or groups in Tucson or Phoenix, Arizona—you can join the Credit Union. People who are related to a current member are also eligible to join the credit union. This includes kids, spouses, grandparents and grandchildren. Also, if you live, work, worship or attend school in Tucson--you can join Hughes Federal Credit Union. There are many ways to join Hughes Federal Credit Union. Ask your parents about joining the Credit Union or check out more information about Who Can Join and How to Join.