Tucson, AZ— May 8, 2019 – Hughes Federal Credit Union announced another year of strong growth as well as the winners of its 14thAnnual Scholarship at Hughes’ Annual Meeting on April 27. The 67thannual meeting was held at Amphitheater High School, with approximately 400 member-owners in attendance.
In 2018, Hughes Federal Credit Union experienced strong growth in assets, capital, deposits, loans and membership for the eight year in a row. Also, member savings surpassed $1 billion, an increase of $20.9 million over the previous year, and total member-ownership grew by 8.81%.
“We’re pleased to share another year of strong performance,” said Robert J. Swick, president/general manager. “The strength of the 2018 results, combined with strong member demand, helps assure high dividend rates on all interest-earning deposit accounts and the One Low Rate loan program, and enhances our Checking PLUS with Benefits Plus program.”
In other business at the annual meeting, three incumbents were reelected to the 2019 volunteer board of directors for three-year terms, including Ashesh Bhahala, Roberta Reeves and Robert Swick. Volunteer board service distinguishes credit unions from banks.
Hughes has granted $80,000 in scholarships to local high school student members since 2005. Congratulations to these deserving students who were awarded $2,000 each:
- Grace Gephart – Canyon Del Oro High School
- Ryan Hunt – Mountain View High School
- Brooke Larson – Tanque Verde High School
- Anna Raygoza – Pusch Ridge Christian Academy
- Michael Snyder – Sabino High School
About Hughes: Established in Tucson in 1952, Hughes Federal Credit Union has $1.2 billion in assets and 128,000 members. Hughes is rated number one by Forbes in their inaugural best-in-state bank and credit union ranking and has a “Superior” 5-Star Bauer Financial rating. It is rated A+and has been accredited by the Better Business Bureau since 1974. The Credit Union is federally insured by the National Credit Union Administration. For more information, visit HughesFCU.org, or follow Hughes at Facebook.com/HughesFCUand Twitter.com/HughesFCU.
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Kellie Terhune Neely