Dec 14, 2021
Hughes Earns a BauerFinancial Superior Rating
BauerFinancial, Inc., an independent bank and credit union rating agency that analyzes and reports on the financial condition of the nation’s banking industry, just announced that Hughes Federal Credit Union has earned its prestigious 5-Star Superior rating.
BauerFinancial, Inc. examines detailed financial reports filed with the National Credit Union Administration (NCUA) and subjects this data to an unbiased and independent analysis. Financial institutions are then assigned a star rating on a scale of zero to five stars, with four stars indicating an “excellent and recommended” rating and five stars indicating a “superior and recommended” rating.
“We’re thrilled to have maintained an "excellent" or “superior" rating for 125 consecutive quarters,” said Hughes Vice President of Marketing, Sales and Service Elisa Ross. “This rating emphasizes our commitment to the financial wellness of our community by providing exceptional financial products and services to the people of Southern Arizona.”
The evaluation factors include profitability, historical trends, loan delinquencies, repossessed assets, reserves, regulatory compliance, proposed regulations and asset quality. BauerFinancial states that "no institution pays for its rating, nor can they elude it."
About BauerFinancial, Inc.
BauerFinancial, Inc. has provided the public with the knowledge they need to make informed decisions regarding their banking relationships since 1983. Considered as one of the nation’s premier Bank and Credit Union rating firms, Bauer’s star ratings indicate if deposits are in strong credit unions. All U.S. chartered federally insured institutions are rated by Bauer.
About Hughes Federal Credit Union
Established in 1952, Hughes Federal Credit Union is a local, full-service financial institution with more than 165,000 members and $1.9 billion in assets. Hughes is ranked #1 in Arizona by Forbes and rated one of the best Arizona credit unions for four years running. Hughes is rated A+ and has been accredited by the Better Business Bureau since 1974. For more information, please visit HughesFCU.org.