VIENNA, Va. – Navy FCU announced the passing of Adm. Thomas Hughes, longtime volunteer who served as president and CEO of the world’s largest credit union for nine years, died last week at 82.
Hughes, who rose to become Vice Admiral during 40 years in the Navy, served more than ten years as a volunteer before becoming president and CEO of the credit union in 1988 upon his retirement from active duty. During that time he more than tripled the size of the credit union to $9 billion as Navy Fed emerged as the national leader of the credit union movement.
During his time as Navy Fed CEO Hughes served on the board of NAFCU, the Federal Reserve’s Thrift Institutions Advisory Council and the Federal Reserve Bank of Richmond.
During his Navy career he commanded three ships, including the destroyer USS John King, the amphibious cargo ship USS Thuban and the oiler USS Chikaskia, and had numerous assignments in the Pentagon, where he served as assistant chief of naval personnel for financial management; Director, assistant deputy chief of naval operations; and as the deputy chief of naval operations.
Today, Navy Fed is still the world’s largest credit union and has more than $36 billion in assets and 170 branches around the world.
