Hughes Federal Credit Union took the No. 1 Arizona spot on Forbes’ inaugural “Best-In-State Banks and Credit Unions” list.

Locally-owned Hughes received the top rating, a customer satisfaction score of 87.60 among all credit unions in the Mountain West Credit Union Association area that covers Arizona, Colorado and Wyoming. Only 2.4 percent of financial institutions nationwide earned a Best-In-State designation.

Banks and credit unions were ranked on overall recommendations and satisfaction as well as on five key areas: trust, terms and conditions, branch services, digital services and financial advice.