BauerFinancial, Inc., an independent bank and credit union rating agency that analyzes and reports on the financial condition of the nation’s banking industry, has announced that Hughes Federal Credit Union earned its prestigious 5-Star Superior rating.
BauerFinancial examines detailed financial reports filed with the National Credit Union Administration 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 VP 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 stated that “no institution pays for its rating, nor can they elude it.”