Dec, 31, 2023 — HUGHES FEDERAL CREDIT UNION is a federal credit union headquartered in TUCSON, AZ with 7 branch locations and about $1.99 billion in total assets. Opened 73 years ago in 1951, HUGHES FEDERAL CREDIT UNION has about 177,998 members and employs 276 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HUGHES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 971 W Wetmore Rd TUCSON, AZ 85705-1551 |
| Phone: | (520) 794-8341 |
| Fax: | (520) 205-5699 |
| Website: | https://www.hughesfcu.org |
| Branches: | 7 branch locations |
| Members: | 177,998 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7531 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation equipment |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $1,989,013,936 |
| CEO/Manager: | Andrew S Britton |
| Chairperson: | Juan Gonzalez |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 233,021,647 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 102,788,826 |
| Unsecured Loans | 64,530,395 |
| Other Loans | 1,540,788,810 |
| TOTAL LOANS | 1,709,031,023 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -30,582,313 |
| Land And Building | 35,062,964 |
| Other Fixed Assets | 6,085,220 |
| NCUSIF Deposit | 15,752,381 |
| All Other Assets | 6,349,562 |
| TOTAL ASSETS | 1,989,013,936 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 7,101,453 |
| Notes & Interest Payable | 20,000,000 |
| Accounts Payable & Other Liabilities | 11,118,151 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 212,828,900 |
| Regular shares | 200,820,455 |
| All Other Shares & Deposits | 1,313,792,364 |
| TOTAL SHARES & DEPOSITS | 1,727,441,720 |
| TOTAL LIABILITIES | 1,765,661,324 |
| Regular Reserve | 0 |
| Other Reserves | 216,860,453 |
| Undivided Earnings | 6,492,159 |
| TOTAL EQUITY | 223,352,612 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,989,013,936 |
| INCOME & EXPENSE | |
| Loan Income | 105,304,087 |
| Investment Income | 5,667,161 |
| Other Income | 13,715,307 |
| Total Employee Compensation & Benefits | 22,382,618 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 35,405,823 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 19,102,595 |
| Cost of Funds | 36,581,072 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 19,505,966 |
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