TUCSON, Ariz.–Hughes Federal Credit Union shared with members another year of strong growth as well as the winners of its 14thAnnual Scholarships during its 67thannual meeting at Amphitheater High School, where approximately 400 members were in attendance.
In 2018, Hughes Federal Credit Union said it experienced strong growth in assets, capital, deposits, loans and membership for the eighth year in a row. In addition, 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.
Separately, Hughes, which has granted $80,000 in scholarships to local high school student members since 2005, awarded five students $2,000 each.