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

  2930 Eisenhower Ave Alexandria, VA 22314-4557

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  Penfed Credit Union

  1199 N Eglin Pkwy Shalimar, FL 32579-1252

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  Pen Fed Credit Union

  4630 Exchange Service Dr Dallas, TX 75236-1506

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  PenFed Credit Union

  701 W Central Texas Expy Harker Heights, TX 76548-1618

Review Details

• Review fromBrian W.

  Date: 12/15/2022

  1 star
  So I wanted to refinance my car to pay a lower rate. So I got a lower payment and rate. About a month after this they sent me an email saying they needed proof of insurance. So I sent them the proof of insurance “on the same day” they sent the email. A few weeks later they added over 2300 dollars to my loan saying they didn’t have proof of insurance. After a number of times of sending them proof that I did they only removed 2000 off and kept the other 300 on there.
  Ever since then I’ve been behind on the payments and have been hit with return fees and late fees. The time of the transaction completion is ridiculous. And just today I got a notice that my recent payment to them was declined, and hit with yet another return fee, even though I clearly had the funds at the time of the transaction and yes I have screenshots.
  I’m about find another bank that will actually take my payments when the amount is available.

  PenFed Credit Union

  Date: 12/16/2022

  We are sorry to hear of your recent experience with us. We would encourage you to continue working with Member Services to resolve the issue with your payments. They can be reached at 800-247-5626. We regret to hear you did not feel assisted in you recent communications with us.

• Review fromRon B

  Date: 12/14/2022

  1 star
  Had a small loan with this business. I transferred money from my account to them. They said I couldn't pay my loan of for up to a week after the transfer. I asked to speak to a supervisor and the lady refused to transfer me. After jumping through this hoop and paying off my loan they informed me it would take another 2 weeks to get my paperwork in the mail as they could email me anything to verify the loan had been paid off. What a joke for a lending institution. I would highly recommend going elsewhere to get loans or any kind of financial things done.

  PenFed Credit Union

  Date: 12/16/2022

  Thank you for sharing your experience. We’re sorry to hear of your negative experience while trying to get a Lien Satisfaction letter. We are committed to providing superior service to our members in every interaction. We regret the service you received was not reflective of this commitment.

• Review fromArnold E

  Date: 12/08/2022

  1 star
  Penfed offered me a better rate to refinance my auto loans which I did in March 2022. Since then they have continually claimed that they have not received the titles as agreed upon in the loan documents. Both of the the other banks claim to have sent them when requested. Penfed changed my rates from 4.9% to 18% and raised my payments by over $200 dollars per month. Finally they said that they had everything for the one vehicle in September and reduced it back to the original terms; However I am still paying $125 more per month on the second vehicle than agreed upon. The would tell me they did not have the title. When I told them I confirmed that Wells Fargo sent the title on April 4, 2022 and offered to give the person with Wells Fargo who would confirm it they changed their tune and said they were just missing a signature. They not claim that they sent the paperwork to me for me to sign on November 29. As of December 8 I have not received it. I should have stayed with my original bank because Penfed has cost me more than I would have paid the other company with higher interest. I guess this is how they make up the difference by offering lower interest rates than claiming the customer has not done what they agreed to. They had the nerve to tell me that was their way to make sure the customer did what was agreed to. I just want to scream "I cannot make up my own title and I cannot sign documents I do not have!" They have me over a barrel but at this point I am almost willing to let them repossess the car and take the hit on my credit and go hire a lawyer.

  PenFed Credit Union

  Date: 12/09/2022

  We’re very sorry to hear of your negative experience. We can assure you our top priority is helping our members achieve their financial goals, and regret any inconvenience this situation has caused. Once we receive all necessary documentation from you, your original rate will be restored. We encourage you to continue working with member services at 800-247-5626 to resolve the issue. We appreciate you taking the time to provide your feedback.