Tucson, AZ– Locally owned and managed Hughes Federal Credit Union announced that it surpassed $1 billion in total assets and 106,000 members. “This is a major milestone for Hughes,” said John Sansbury, chairman of the board. “We’ve doubled both our assets and our membership since the recession seven years ago. To put our growth in perspective, the Credit Union’s assets grew 20% in 2016 or one-fifth our size in one year.”
Sansbury points to a national trend among consumers who are choosing a local alternative to national banks, which is one of several factors that contributed to the growth of the Credit Union. “People have been making a switch to Hughes Federal Credit Union to enjoy the benefits and peace-of-mind of banking with a locally-owned, not-for-profit financial institution,” Sansbury said. “Our financial cooperative model is what allows our member-owners to enjoy products and services, like our ‘certified’ high rates on savings and our ‘One Low Rate’ offered on most loans. It’s all part of our mission to make a positive difference in the financial lives of our members.”
Hughes was established 65 years ago and is owned by its 106,000 members. “We remain committed to the high quality products and exceptional service to our members as well as continuing to make a positive difference in our community outreach efforts. Our goal is to positively impact our economy, our members, and more people across Arizona,” said Sansbury.
Established in Tucson in 1952, Hughes Federal Credit Union is a locally owned financial cooperative. Rated 5-Star ‘Superior’ by BauerFinancial Institution. Rated A+ by the Better Business Bureau and accredited since 1974. Datatrac®, the largest interest rates research firm in the U.S., certified that Hughes Federal Credit Union offers up to 22 banking products that outperformed the Tucson metro market up to 324% earning the 2017 Great Rate Award. Hughes Federal Credit Union is federally insured by the National Credit Union Administration. For more information, visit HughesFCU.org.