Business Profile
Credit Union
PenFed Credit UnionHeadquarters
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Reviews
This profile includes reviews for PenFed Credit Union's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Review Ratings
1.17/5 stars
Average of 206 Customer Reviews
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Review fromCharles M.
Date: 02/06/2023
1 starI recently applied for a credit card with PenFed and was shocked to find out that they required a letter from my employer to verify my annual salary. This was extremely insulting and I believe it was due to racism. I make a good salary and I am appalled that PenFed would not take my word for it. I have never had to provide such a letter for any other credit card company and I feel that PenFed is discriminating against me based on my race. I will not be using PenFed for any of my credit card needs and I would not recommend them to anyone.PenFed Credit Union
Date: 02/07/2023
Hi Charles, we regret any inconvenience caused by our need to verify your income documents. There are many factors taken into consideration when reviewing an application for credit. By reviewing each of the factors, we compile a comprehensive analysis of the applicant’s stability, ability, and willingness to repay the debt. Sometimes, this may require income verification, such as in your case.
PenFed’s decisions concerning your credit request were based upon established lending guidelines without regard to race, color, religion, national origin, sex, marital status, age, whether any income was derived from a public assistance program, and whether any rights were exercised under the Consumer Credit Protection Act. Thank you for taking the time to share your feedback.Charles M.
Date: 02/07/2023
You stated applicants stability (which I am stable)
ability and willingness to repay the debt (which I am very much able) in your response and also income verification which I have the means and a low debt to income ratio to determine those deciding factors. In MY case I do believe that your underwriting team did not think I made that much annually which is shameful and degrading. I was not applying for a personal loan nor a mortgage loan or even a automobile loan which i have all three with good payment history I might add with no derogatory or late payments or comments on my report so I know this response is far from the underlying facts that plagues people of my situation. Let's be authentic its 2023.Review fromAutumn T
Date: 01/31/2023
1 starApplied for an auto loan, got approved for $40k. They told me they didn’t need any vehicle information & to go ahead & purchase the car. So I did just that, now I’ve had the car in my possession for 5 days they are telling me they won’t finance my car. It’s a 2020 ford expedition with 16k miles fully loaded. I’m the one making the payment not them, I drove 3 hours one way to get the vehicle and i also traded in my car. So now I won’t have a car at all, because they said they won’t finance it. The employees are rude & they don’t care. They deserve an F rating.Review fromKEITH H
Date: 01/31/2023
1 starWe applied for a HELOC Line of credit. We were approved for 80.000. We were told that in order to accept the loan, they would have to roll our car debt into the loan so we did. We were also told by Albert that we could LOCK IN OUR INTEREST AT AROUND 9%. He gave us a quote of a 180.00 a month payment without locking in the interest rate which could go up. He also quoted a monthly payment of 220.00 a month with the cost of locking in the interest rate so we decided to take the 220.00 a month payment.
Our first payment was 220.00. However! When we received our second payment, it was 289.00 when we called. We were told that the interest rate had gone up. We told them that we were paying 220.00 a month because we were told by “Albert” that our interest rate was locked in at 9%. Our interest rate is now 10.25% and was NEVER LOCKED IN. I called Albert and asked him what happened. He told me that HE NEVER TOLD ME THAT!! HE WAS LYING!!! The reason that we moved forward on the HELOC with Pen Fed is because Pen Fed quoted us a 220.00 a month payment with a LOCKED-IN RATE OF 9%. Now they are telling us that our payment is going to rise and it would cost us 400.00 dollars a month if we wanted to “LOCK IT IN” at 10.25% THEY ARE VERY DECEIVING…PenFed Credit Union
Date: 01/31/2023
Hi Keith, we're so sorry to hear this, and regret any confusion surrounding your Home Equity Line of Credit application. Our communication should always be clear and consistent, and we're sorry you feel this was not demonstrated to you. We can assure you we take member feedback seriously, and yours has been forwarded to Management for review. Thank you for taking the time to submit your concern.Review fromRalph T
Date: 01/30/2023
1 starI don't think there is a point in entering my complaint regarding delinquently applying payments for the purpose of incurring late charges just to hear "We are sorry to hear of your recent experience with us." Hours on the phone do not help.PenFed Credit Union
Date: 01/31/2023
Hi Ralph, we regret hearing there's been an issue with your payments. We strive to provide a best-in-class member experience at all times, and are sorry you feel this has not been demonstrated to you. We understand your frustration, and we encourage you to continue working with Member Services to resolve. Thank you for taking the time to share your feedback.Review fromSamuel D.
Date: 01/26/2023
1 starI closed my account more than a year ago! But Penfed is still sending me paperwork as if I still have an account!
I quit them because of shady practices.PenFed Credit Union
Date: 01/31/2023
Hi Samuel, we're sorry to hear you've had a negative experience with us. To resolve this issue, we encourage you to continue working with Member Services at ************, as there may be specific reasons you are still receiving mail. A representative will be happy to discuss your account in more detail with you. Thank you for sharing your feedback.Review fromKarrie S
Date: 01/26/2023
1 starTHERES NO EXCUSE TO BE THIS FAR BEHIND IN TECHNOLOGY. this is literally the worst account I've ever had and I've had a lot. If you ever do anything online, don't get ANY KIND of account from them. They are always having "connectivity issues" when you try to connect using plaid or any other service that other budgeting or banking or loaning apps REQUIRE you to use. Then, you can't even just apply their debit card because they're ALWAYS having issues. This CU is made for baby boomers that never use the internet and nothing more.
Don't allow them to say it's the other company's fault for changing something, like they've done before. NO other banks or CUs have this much trouble. 2 months I haven't been able to connect my account to anything.
Also I have an overdraft line of credit of $500 that I can't use. I have been charged with overdraft fees many times. I've never written a bad review about any company before. But this one is just, so bad. There's no excuse for it to be this bad.PenFed Credit Union
Date: 01/31/2023
Hi Karrie, we're so sorry to hear of your recent negative experiences online and with your overdraft line of credit. We strive to help our members achieve their financial goals through reliable communication and ease of account access, as well as products that best fit their needs. We regret this commitment was not demonstrated to you. Thank you for taking the time to share your feedback.Review fromVirna B
Date: 01/24/2023
5 starsExcellent customer services I been a member for years and always enjoy their professional and friendlinessPenFed Credit Union
Date: 01/25/2023
Thank you so much for your positive feedback, Virna! We appreciate having you as part of the PenFed family!Review fromJames W
Date: 01/17/2023
3 starsDealing with the Shalimar, FL branch was very nice. Trying to login for the 1st time not so much. Online I could not put in my birthday by typing it in as it wanted me to backup month by month, 900 times and I am unwilling to do that. I can check my account balance by calling the 800 #.
Not a good Online businessPenFed Credit Union
Date: 01/25/2023
Hi James, we're so sorry to hear of your negative experience. Our goal is to give members an efficient way to access their accounts through our online platform, and we appreciate you sharing your feedback so we can make improvements for the future. We're pleased to hear you had a positive experience at our Shalimar Financial Center, and we welcome you to the PenFed family.Review fromDenisse A
Date: 01/11/2023
1 starHorrible customer service, they truly sound and act as they can care less about their customers . Also, be alert about making transfer within the same bank and your own ACCOUNTS not 3rd party or just making a mobile deposit. They will hold you money for dayS at a time. So ridiculous.PenFed Credit Union
Date: 01/12/2023
We regret your experience with us has not been more positive. Service excellence is a top priority of ours, and we are sorry to hear our commitment to providing it has not been demonstrated to you. We appreciate you taking the time to share your feedback, as it highlights areas in which we can improve. We hope you will allow us the opportunity to earn back your trust as a valued member.Review fromLaura Z
Date: 01/04/2023
1 starThis credit union had the best customer service and acted like they cared from 2013 until 2017. Now when you call they act like they don’t care. They sound like **** ** ******* employees. Rude 110% if I could add no stars I would. This credit union stopped paying their CU co-op fees and now I have to drive a minimum of 1 hour outside of traffic to do a cash deposit. What poor planning and treatment of the people that give you your borrowing power!! How are we supposed to bank efficiently like this. Thank goodness we didn’t take out our mortgage with them!!PenFed Credit Union
Date: 01/04/2023
We are disappointed to hear of the difficulty locating an ATM for your deposits, and that the quality of service you received from us did not meet our standards. We strive to provide excellent service each time you contact us and regret this was not demonstrated to you. Member feedback such as yours helps us to identify areas we can improve, and we thank you for taking the time to share your experience.
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