Reviews

This profile includes reviews for PenFed Credit Union's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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PenFed Credit Union has 23 locations, listed below.

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  PenFed Credit Union

  McLean, VA 22102-3381

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  PenFed Credit Union

  PO Box 1432 Alexandria, VA 22313-1432

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  PenFed Credit Union

  1101 Grade Ln Louisville, KY 40213-2673

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  McGraw-Hill Federal Credit Union

  120 Windsor Center Dr East Windsor, NJ 08520-1407

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  PenFed Credit Union

  120 Windsor Center Dr East Windsor, NJ 08520-1407

Review Details

• Review fromOmid S

  Date: 11/12/2025

  I applied for a car loan under $10,000 with PenFed to purchase a vehicle for my father. On the application form, I clearly selected that I had not yet chosen a car, yet PenFed proceeded to run my credit and request sensitive personal details.
  
  Afterward, I was told I needed to provide a VIN and photos of the vehicle—information that should have been disclosed upfront. When I contacted customer service, the representative was unable to provide clear or accurate guidance, offering only repeated apologies.
  
  This experience was misleading and frustrating, particularly for someone with excellent credit and a simple loan request. Consumers deserve transparency and consistency from a financial institution. I’m filing this review to encourage clearer communication and honest disclosure in the application process.

  PenFed Credit Union

  Date: 11/13/2025

  Hi there. We're sorry to hear you had a poor experience. We will use your feedback to help identify opportunities for improvement. 
  
  

• Review fromMARK Z

  Date: 10/14/2025

  I agree with the guy who wrote a review before me. What a DISASTER. From the application process taking over 6 weeks with repeated and repeated and repeated requests for the same information provided, some more than 10 times, to their mailing the first statement with payment instructions to the wrong address, to repeated harassing phone calls after we paid and had communicated that ("that's a different department"), to not reading the title insurance report repeatedly asking me for ***'s they already had (incompetent or untrained staff who didn't read the information right in front of their faces), and now daily calls regarding the first payment, which we have already paid. Best advice for you - Pick anyone else other than PenFed.

  PenFed Credit Union

  Date: 10/15/2025

  Hello ****. We are committed to providing superior service to our members in every interaction. We regret you felt the service you received was not reflective of this commitment. Thank you for sharing your experiences. If you need any assistance with your account, or would like to share any additional feedback, you can contact our ************** team at ************. 

• Review fromStuart B

  Date: 10/14/2025

  They stated they could not auto draft my new car payment from my business checking account because my business was not my first and last name. Yes you read that correctly. If your business is not your first and last name you cant have them autodraft from your business checking account. I provided documentation showing I am the business owner and they said they cant accept it. Also I have 800 fico and a high income. The rates advertised on their website are absolute clickbait and fake. I applied for a 6.74% rate and got a 8.14% with an 800 fico score. I regret ever seeing their business on the internet. DO NOT DO BUSINESS WITH THIS BANK.

  PenFed Credit Union

  Date: 10/15/2025

  Though we wish your experience had been more positive, we appreciate you taking the time to share your feedback. 

• Review fromWilliam H

  Date: 08/20/2025

  Should have an option of no stars. I'm giving this review in public interest. I started an online car loan pre-approval with PenFed back in July because they were advertising really low rates. I actually bailed on the process because the online method did not allow for certain specifics to be entered. PenFed processed the information anyway. I later received a letter citing certain adverse effects on my credit reporting and PenFed offering higher rates with additional conditions for a loan. PenFed was statimg I had payment delinquencies and with multiple accounts and a ********************** score much lower than what I actually have. These were 100 percent false. I not only have my credit report and score, but actually obtained a favorable loan without conditions elsewhere before I even received the PenFed letter. I just want people to know PenFed is sketchy in its practices and this seems consistent with the other complaints and reviews I have read. The letter reads like an attempt to bait and switch on loan advertisements. I made my complaint directly to PenFed with a warning about any further solicitation toward me. PenFed is a bad faith lender and I will avoid them and recommend others do so too.

  PenFed Credit Union

  Date: 08/21/2025

  Thank you for your feedback. We are sorry to hear you had a poor experience. You can message us at ********************************************************* or call us at ************ if you need assistance or would like to provide more details. 

• Review fromBritany L

  Date: 07/21/2025

  I contacted PenFed Credit Union in good faith, seeking information about **** home loan pre-approval. Despite sending multiple emails and receiving only generic forwarded responses, I was never given a proper answer or connected to someone who could help.However, the moment I requested to close my account, ********************** responded immediately which clearly shows where their priorities lie. I gave them every opportunity to help me, and they failed. Their disregard was not only frustrating but deeply disheartening, especially for someone trying to make a major life decision like buying a home.Their mortgage department's refusal to respond after multiple outreach attempts is unacceptable. I do not trust this credit union and would never recommend them to anyone seeking mortgage assistance or respectful service.This was a complete waste of my time and energy. If this is how they treat prospective members, I cant imagine how they treat people with actual loans or urgent needs.

  PenFed Credit Union

  Date: 07/22/2025

  Hello there. Thank you for taking the time to share your experiences with PenFed. We're sorry to hear we were unable to move forward with your application.

• Review fromStephanie U

  Date: 07/15/2025

  Zero stars.Weve reached out multiple times under extremely stressful circumstances following the death of my father-in-law, simply trying to obtain account statements. During our first call, a representative assured us the request would be processed without issue. A few days passed, nothing in the mail. We called again and were told everything was in progress and to just ********, 15 days later, still nothing. I called again and was told the same thing: everything is fine. I pushed harder, and only then was I transferred to ****** in processing, who informed us, for the first time, that nothing could be done without court involvement.Unacceptable. Why wasnt this communicated from the start? Why didnt anyone call us back to explain the issue? We were repeatedly told things were fine when they werent, and we lost over two weeks because of ***** add insult to injury, they were **** quick about settling the account and taking his money, but suddenly everything grinds to a halt when we need documentation for my mother-in-laws ******** application. The only thing holding up her application now is this companys failure to do their job.Were now waiting on a promised call from a supervisor, but Im not holding my breath. Absolutely sickening.

  PenFed Credit Union

  Date: 07/16/2025

  Hello. Thank you for taking the time to share your feedback and for making us aware of your situation. Please reach out to us directly at ************ or at ********************************************************* if you do not hear from the supervisor shortly.

  Stephanie U

  Date: 07/22/2025

  Update: A supervisor did reach out after my original post, and I want to acknowledge how grateful I am for her help. She was compassionate, professional, and followed through (5 stars for her). That said, my overall experience with the company still stands as deeply frustrating. It's unacceptable to repeatedly assure someone that something is being handled when it isnt. If there are limitations or requirements, they should be clearly communicated up front. Dropping the ball and failing to follow up, especially during a time of grief, puts people in an incredibly difficult position. I hope the company invests in better training for its agents.

• Review fromDavid B

  Date: 07/12/2025

  Their products are scams. I have excellent credit and higher than average income. I was quickly pre approved for an auto loan. So when I decided to move forward with the loan, I was denied, though I confirmed with the credit bureaus that they never even pulled my credit. I am certain that all information I provided was correct. So the most logical explanation to me is that theyre not actually offering their auto loans to anyone at the advertised terms.

  PenFed Credit Union

  Date: 07/14/2025

  Hi there. We are sorry  to hear you were unhappy with the outcome of your recent auto loan application. If you have any questions about your application you can contact us from *************************************************************** or call us at ************ or ************. Our ************** Representatives are ready to help you.

• Review fromBucky H

  Date: 07/09/2025

  So far rediculas. Opened a *****, unable to access funds, no consumer help, a phone tree to the mohabee desert. Do not do business with this company!

  PenFed Credit Union

  Date: 07/11/2025

  Hi there. We are very sorry to hear you had issues getting assistance with advancing funds from a Home Equity Line of Credit account. If you still require assistance, our Home Loans Servicing team would be happy to help you at ************. 

• Review fromBob Z

  Date: 07/06/2025

  False advertising regarding auto finance rates. There are better choices available without having to join a credit union,

  PenFed Credit Union

  Date: 07/08/2025

  Hi there. Thank you for taking the time to share your feedback. We are sorry that we were unable to offer you our lowest possible auto loan rate at this time, and hope you consider us for you lending needs again in the future.  

• Review fromBi T

  Date: 07/05/2025

  False advertising on website. Don't go by the rates they have on their website, actual rates offered to you are way higher. Any credit union will easily beat them, it's like they don't care or aren't even trying.

  PenFed Credit Union

  Date: 07/08/2025

  Hi there. Thank you for considering PenFed for your lending needs. We regret we were unable to offer you our lowest possible rate. We appreciate your feedback and thank you for taking the time to share it.