Banking » Reviews » Hughes Federal Credit Union CDs: All You Need To Know
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Hughes Federal Credit Union CDs: All You Need To Know

Hughes Federal Credit Union offers competitive CD rates and terms between 6 months to 3 years. Compare rates, terms and alternative CDs
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: January 1, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: January 1, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Hughes Federal Credit Union Certificates

APY Range

3.30% – 4.97%

Minimum Deposit

$1,000 / $50,000 / $99,000

Terms

6 months – 3 years

Our Rating

4.1
4.1/5

Hughes Federal Credit Union Certificates

APY Range

3.30% – 4.97%

Minimum Deposit

$1,000 / $50,000 / $99,000

Terms

6 months – 3 years

Our Rating

4.1
4.1/5

Hughes Certificates (CDs) Rates

Hughes Federal Credit Union provides average-high rates for most CD terms, but they are not among the highest-yield CDs in the market. However, the credit union does offer competitive rates for its 36-month CD.

For each term, there are three different rates based on the minimum deposit amount. Deposits of up to $50K will receive the lower rate, while deposits between $50K to $99K or more than $99K will receive higher rates based on the deposit amount.

Also, the variety of terms offered is smaller compared to other credit unions and banks. While it enables CD laddering for those who need it, there is no option to lock your rate for more than 3 years, unlike other financial institutions who offer terms like 4-year or 5-year CDs.

Term
APY
6 Months
3.30% / 3.35% / 3.41%
12 Months
3.82% / 3.87% / 3.92%
24 Months
4.34% / 4.39% / 4.45%
29 Months
4.34% / 4.39% / 4.45%
36 Months
4.86% / 4.92% / 4.97%

How Do Hughes Certificates Stack Up Against The Competition?

As we can see in the table below, Hughes Federal Credit Union offers less diversity when it comes to terms as it offers only up to 3 years CD, which doesn't provide investors the option to lock the rate for a significant period of time.

Also, the CD rates for 6-month and 1-year CD are lower than those you can get with other credit unions.

Credit Union
CD Range
Minimum Deposit
2.00% – 4.35%
$1,000
4.27% – 5.30%
$1,000
3.51% – 4.85%
$5,000
0.50% – 5.37%
$250
4.00% – 5.60%
$1,000
2.25% – 5.00%
$50
4.50% – 5.45%
$10,000
0.30% – 5.25%
$500
3.30% – 5.05%
$1,000
0.40%
$1,000

Can You Join Hughes Federal Credit Union?

There are a few ways to join Hughes Federal Credit Union:

  • Live, work, worship, or attend school in Tucson
  • Be employed by one of their Select Employer Groups
  • Have a family/household member who is a member of Hughes, including spouse, child, sister/brother, parent, grandparent, grandchild, stepparent, stepchild, stepsister/brother, or adopted child. A household member is a person living in the same residence sharing household expenses.
  • Make a small donation to one of the following community Special Interest Groups: Friends of the Oro Valley Public Library, Friends of the Pima County Public Library, or Friends of the Green Valley Public Library.

About Hughes Federal Credit Union

Hughes Federal Credit Union was founded in 1952 in Tucson, Arizona, to serve the financial needs of Hughes Aircraft Company employees and their families. Today, Hughes FCU serves over 178,700 members and has over $1.9 billion in assets. The credit union offers a variety of financial products and services, including low-cost loans, higher dividends on savings, and convenient online and mobile banking services.

As a federal credit union, Hughes is insured by the National Credit Union Administration (NCUA), a federal government agency, and members' savings are insured up to $250,000 by the NCUA. Hughes FCU prioritizes the safety and soundness of its operations, ensuring the highest level of security for its members' financial information.

FAQs

In most cases, you cannot add money to a CD after it has been opened. However, some banks may allow you to open a new CD with the additional funds.

A jumbo CD is a certificate of deposit with a high minimum deposit requirement, typically $100,000 or more.

Yes, you can use a certificate of deposit as part of your retirement savings plan. However, it may be more beneficial to consider other retirement savings options, such as an IRA or 401(k), which offer tax advantages.

How We Rate Certificates of Deposits: Our Methodology

The Smart Investor team has thoroughly examined certificate of deposit (CD) offerings from various banks, considering multiple factors to provide a comprehensive evaluation. Here's how we rated them across four key categories:

  • CD Rates (50%): We meticulously analyzed the interest rates offered by each bank on their certificate of deposit (CD) products. Higher ratings were awarded to banks offering competitive rates that provide maximum returns for customers' investments. Factors such as the yield curve, current market conditions, and consistency of rates were considered to assess the attractiveness of each bank's CD rates.

  • CD Features (30%): This category evaluated the features associated with each bank's certificate of deposit offerings. Factors considered include the variety of terms available, early withdrawal penalties, minimum deposit requirements, and any additional features or benefits. Higher ratings were given to banks offering a diverse range of CD terms, reasonable early withdrawal fees, and flexible options to meet customers' investment needs.

  • Customer Experience (10%): A positive customer experience is paramount, even when investing in CDs. We assessed each bank's performance in this area, considering factors such as the ease of opening a CD account, the responsiveness of customer service, and overall user satisfaction. Higher ratings were assigned to banks with efficient account opening processes, helpful customer support, and a track record of satisfying customers.

  • Bank Reputation (10%): The reputation of a bank is a critical consideration when investing in CDs. We evaluated each bank's reputation based on factors such as financial stability, regulatory compliance, and public perception. Higher ratings were given to banks with a solid reputation for reliability and trustworthiness, ensuring customers' investments are safe and secure.

By considering these categories and assigning appropriate weights to each, our review aims to provide valuable insights to help individuals make informed decisions when investing in certificate of deposits.

Compare CD Rates

Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
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