Tucson-based Hughes Federal Credit Union has doubled its assets and membership since the recession seven years ago, after reaching $1 billion in assets and 106,000 members, according to an announcement.
“To put our growth in perspective, the Credit Union’s assets grew 20 percent in 2016 or one-fifth our size in one year,” said John Sansbury, chairman of the board.
Sansbury said there is a national trend among consumers who are choosing local alternatives to national banks, one of the growth factors of the Credit Union.
Hughes Federal Credit Union uses a financial cooperative model, which allows member-owners to enjoy the Credit Union’s services, Sansbury said.
“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,” he added.