How Hughes' Financial Strength Ensures Your Money is Safe and Sound
At Hughes Federal Credit Union, we understand the importance of ensuring the safety and security of our members' money. We want to reassure our members that their deposits are safe and sound with us. That’s why we want to take a moment to highlight some features we have in place to protect your funds.
The Credit Union Difference
Unlike for-profit financial institutions, Hughes Federal Credit Union is a not-for-profit cooperative our members own. All decisions about the products and services we offer are made with our members’ best interests in mind. As a cooperative, we are inherently accountable to our members rather than stockholders. Any profit generated is returned to our members, allowing us to offer lower interest rates on loans, higher returns on savings accounts, and lower fees.
Simply put, our priorities are aligned with those of our members. This is why we take a conservative approach to managing our members' deposits.
We do not engage in risky practices to meet stockholders’ profit demands. Instead, our portfolio is diverse and not dependent on a sole industry. We are here for Main Street, not Wall Street. We live and work in the communities that we serve, taking local deposits and making local loans. We are healthy, strong, safe, local, and focused on building thriving communities.
Safety and Security of Your Money
For over 70 years, Hughes has remained financially strong and well-capitalized. Hughes Federal Credit Union’s net-worth ratio, the standard measure of a financial institution’s strength, is 12.24%, well above the 7% net-worth ratio required to be considered well-capitalized by our regulator, NCUA.
Learn more about
NCUA’s Share Insurance and additional resources like the Share Insurance Estimator to calculate your coverage.
BauerFinancial 5-Star "Superior" Rating
Hughes Federal Credit Union is proud to have received a 5-star rating from BauerFinancial, recognizing our financial strength and stability. BauerFinancial, Inc. has been analyzing and reporting on the financial condition of the nation's banking industry since 1983. Through the years, BauerFinancial has earned the reputation of "the nation's bank rating service.”
Notably, this marks 32 years as a “superior" financial institution. This achievement reflects our commitment to providing our members with a safe and secure place to save and manage their money and our dedication to making sound financial decisions that prioritize our members' best interests.
Our Long-Standing Commitment to Your Financial Well-Being
As an Arizona-based credit union, Hughes Federal Credit Union has been serving the financial needs of our members since 1952. Accredited and rated A+ by the Better Business Bureau since 1974, we are committed to providing our members with the highest service, security, and stability.
We offer a wide range of financial products and services like checking and savings accounts, loans, credit cards, and more, including competitive dividend rates on Money Market Accounts, Certificate Accounts, and IRA Certificate Accounts, allowing you to earn at higher rates while offering you peace of mind knowing your principal balance is protected and insured. We also provide online and mobile banking services, making it easy for our members to manage their finances from anywhere.
Hughes continues to grow, and much has changed over the past seventy years, but what is most important is what has not changed. We remain today what we were then–a member-owned and operated financial cooperative in existence solely for the benefit of our members.
We are a strong and reliable financial institution that has been serving the financial needs of our members for over 70 years, and we will continue to prioritize the financial well-being of our members in all that we do.
