Forbes Names Hughes Best Credit Union in Arizona
When it comes to customer service, accessibility and financial advice, credit unions like Hughes Federal Credit Union have big banks beat.
Popular global business media company, Forbes partnered with market research firm Statista and surveyed more than 25,000 customers in the U.S. for their sentiments on their current and past banking relationships and the independent study found that member-owned financial cooperatives like Hughes outpace banks with an average score of 80 in comparison to 75.2 for banks.
Locally-owned Hughes took the number one Arizona spot on Forbes’ Best-In-State Banks and Credit Unions list, receiving a customer satisfaction score of 87.60 among all credit unions in the Mountain West Credit Union Association.
The 124 banks and 145 credit unions used in the study were rated on overall recommendations and satisfaction including five other categories: trust, terms and conditions, branch services, digital services and financial advice.
President and General Manager of Hughes Robert J. Swick said, “We are honored to be recognized as the best credit union in Arizona by Forbes in its first-ever nationwide survey as this validates our dedication to making a positive difference in the financial lives of our members through best-in-class products, services and customer care and the leadership of our volunteer board of directors.”
Credit unions are different by design. Not-for-profit and locally-owned means a community’s priorities are given the front seat. Beholden not to shareholders but to members, credit unions are focused on what’s best for its members, returning profit to through higher savings rates, lower loan rates, interest-earning checking and fewer and lower fees.