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

• 

  PenFed Credit Union

  2930 Eisenhower Ave Alexandria, VA 22314-4557

• 

  McGraw-Hill Federal Credit Union

  120 Windsor Center Dr East Windsor, NJ 08520-1407

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  PenFed Credit Union

  6935 W Adams Ave Temple, TX 76502-5532

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  PenFed Credit Union

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

Review Details

• Review fromMichael T

  Date: 08/16/2023

  1 star
  I would give this "credit union" zero stars if I could. The customer service was great when my wife and I joined PenFed in 1997. The people were courteous and professional. They knew their job.
  Somehow in the past five years (probably due to their expansion), their customer service has continually degraded to the point of uselessness. One agent transfers me to another agent who then starts a semi-infinite chain because they weren't supposed to be transferred. I think the point is that PenFed doesn't care, and they save money by exhausting the member's time to the point the member no longer has time to pursue the issue.
  I finally gave up on their credit card after twenty-five years. I had two disputes in the space of a couple of months, and they were quite legitimate. The first was rejected because I sent in the dispute too late (although I sent it in well within their declared sixty-day deadline). On the second incident, I relayed my dispute within a few hours, and that dispute was rejected because it was supposedly too soon(!). I called to reason with these "professionals." I called well within business hours only to be told it was outside normal business hours, but the voicemail's quote of the business hours was well within the time I called! This wasn't the only time their expressed rationale contradicted their other rationales, but the proximity of their rejections with conflicting rationales convinced me to terminate my credit card.
  When I called to end the card, they did their usual multiple transfers to someone who just didn't know what I was talking about and evidenced little concern. My wife is an SES, and I am a professional as well. She is utterly disgusted by their decline, and we work with a lot of potential PenFed clients. Needless to say, we are not recommending PenFed.

  PenFed Credit Union

  Date: 08/17/2023

  Thank you for taking the time to share your feedback. We
  strive to provide excellent, efficient service in every interaction, whether
  that be online, by phone, or in a financial center. We regret this was not what
  you experienced. Feedback such as yours helps
  us identify areas we can make improvements for the future.

• Review fromShawn B

  Date: 08/07/2023

  1 star
  This is absolutely the worst bank I have ever dealt with in my entire life. So I refinanced an auto loan through PenFed Credit Union and they claimed to have never received my title from the other institution which I don't believe at this point. Now they are making me do the leg work with DMV to get them a replacement title all while threatening to up my interest rate to 18%. I have been on the phone with them for almost 10 hours at this point. I am beyond p*ssed off at this so called credit union. DO NOT OPEN AN ACCOUNT WITH THESE PEOPLE. YOU HAVE BEEN WARNED.

  PenFed Credit Union

  Date: 08/08/2023

  Hello. We are very sorry to hear our title requirements are causing you any inconvenience. Thank you for continuing to work with our Member Service Team at ************ to get this issue resolved. 

• Review fromSharron W

  Date: 08/07/2023

  1 star
  0 stars! I have been with penfed since 2018 and often deposit checks for nice amounts. I am a business woman. I attempted to make a wire transfer after my check was cleared. The wire was approved and then denied saying that I needed to show proof of funds. The proof is that the check cleared! Now my money has been on hold in my account for 14 days! I was told it could be fraud because sometimes it takes two weeks for a check to bounce back. Well guess what! Its been two weeks and my check hasn’t bounced! They told me my money would be back in my account today but it still has yet to be returned even though I was told it would be in my account today! This is unacceptable not only do I want my money back but I want it back with interest!

  PenFed Credit Union

  Date: 08/08/2023

  Hi there, we're so sorry to hear of your negative experience with your recent deposit and transfer. Thank you for taking the time to share your feedback. We encourage you to continue working with our Member Services Team at ************.

• Review fromRoger H.

  Date: 08/02/2023

  1 star
  In Feb 2022 i opened a checking account online with PenFed. I transferred $50 from my local account at Truist Bank to open an account at Penfed. Once they received the transfer they locked the account and I have no access. I called them and was told that it would be unlocked after they performed a credit check. A couple of months later I called and was told that it was locked by the Fraud department and I need to send identification. At that time I kind of gave up on the entire process. Since I was coming into a large sum of money, I wanted to set up accounts for my grandchildren; DID I EVER PICK THE WRONG BANK/CREDIT UNION!!!
  I chose them because of their affiliation with veterans/military. This month (August 2023) I have called them daily and the responses are insulting. I was told to send a color copy of my driver's license & social security card; so I did. Call them today (2 August 2023) they said they need my utility bill for my mailing address which is also on my driver's license so I sent it and still nothing. I ask them to return the money to the account it came from but they said they cannot and I have to wait on the fraud department; WHOM I AM NOT ALLOWED TO SPEAK WITH. Now I am wondering who has been frauded Me or them cause I'm out of $50. Thus far I can't access my so-called account or get my money back, I think they scammed me out of $50, glad I didn't send the large amount I had planned to send. ADVICE: DON'T DO BUSINESS WITH PENFED THEY WILL SCAM YOU AND CONTROL YOUR FUNDS.

  PenFed Credit Union

  Date: 08/03/2023

  Hi there, we're so sorry to hear of your negative experience. The security of our members' accounts and information is a top priority for us. In some cases we require additional documents to help further authenticate your identity.  We encourage you to continue working with Member Services at 800-247-5626. Thank you for taking the time to share your feedback.

• Review fromTimothy B

  Date: 08/02/2023

  1 star
  Absolutely the worst banking and loan experience. Your Company is nothing more than a Collection Agency for fees. Your credit union received almost 50.000 for a 2020 Ford Ranger. The Vehicle was a total loss. But I was still asked to make payments. Interest accured. After the Insurance Payment the gap payment the maintenance warranty payment. I received nothing. And Your still asking for 750.00 more. 50.000 wasn't enough for Penfed.

  PenFed Credit Union

  Date: 08/03/2023

  Hi there, we're so sorry to hear of your negative experience. We encourage you to continue working with Member Services at 800-247-5626. Thank you for taking the time to share your feedback.

• Review fromNathaniel J.

  Date: 07/18/2023

  1 star
  Never use mobile deposit it's incredible how long they put holds on your money

  PenFed Credit Union

  Date: 07/19/2023

  Hi there, we're sorry to hear of your dissatisfaction with our mobile deposit option. The amount of time a hold is placed on funds is determined by a number of factors, and these holds are in place to help keep our members' accounts safe and secure. We offer other deposit and transfer options that may give you quicker access to your funds. For more information, feel free to call us at ************.

  Nathaniel J.

  Date: 07/20/2023

  For you to put funds on hold for five business days and make them available on a non-business day Saturday makes absolutely no sense you don't do business on Saturday why should I have to

• Review fromMelissa D

  Date: 07/17/2023

  1 star
  I'm a Realtor representing the seller and the buyer is using Pen Fed Credit Union as their lender. They were not able to get us a clear to close within the time frame agreed upon in the contract and asked for at least a week or more extension. What lender in this day and age can't get to closing within 30 days???? The processor was on vacation and I'm pretty sure the delay is because they simply don't care. Their employee was on vacation and I'm confident that instead of making sure the work got done, they see it as "oh well, we will get to it when we get to it". The communication has been horrible. They don't respond to calls or emails. This is one of the worst lenders out there. Do not trust them with your home loan or you may lose your dream home. We have yet to get a clear to close and the deadline is tomorrow.

  PenFed Credit Union

  Date: 07/18/2023

  Thank you for reaching out and sharing your recent experience with PenFed. We are committed to ensuring our members’ satisfaction with every interaction and this includes maintaining open lines of communication during the mortgage application process. We will use your feedback to identify opportunities for improvement.

• Review fromSamantha A.

  Date: 07/16/2023

  1 star
  This is a horrible company. Do not bank with them. On the advice of one of their teller my husband and I took out secure loans. We did this only to help our credit. My loans were two $250, totaling 500. At this time I paid penfed a 500 deposit to get the loan.
  
  The teller ( Christina) open up a share loan account where she deposited the $500 loan I received, and my payments were to be remove from monthly. After 8 months out credit was rising, so we decided to take another loan out before it came of our credit.
  
  We went in and met with the manager were I received a $250 loan, and again paying them $250 to received the loan. Again the manager opened a different loan account where the loan I received was placed. At the time we asked the manager about our deposit. She said 25$ would come available monthly after we paid it.
  
  We informed her at the time that had not happen, but we were made to believe it was just not viewable to us.
  I contacted the manager after finishing paying my last loan. Asking for my deposit I gave to receive these loans back. The manager was horribly rude and uncaring. She said that they did not owe me a deposit because l didn't pay with my loan off with outside Income. This continued to belittle and argue as I tried to explain that even if I pay the loan with the money I borrowed, I still am owe my security deposit back.
  
  We are hard working and honest people, and we were made to feel as we scandalous criminals.
  
  I contacted the call center where I experienced the same incompetent and rude staff. Ultimately Penfed stole $750 from my family.
  
  
  The way this company treats their customers is absolutely disgusting and their complete incompetent
  My husband who also took out loans had no issue receiving his deposit back into our account.
  
  We are now receive letter saying my husband's loan Is pass due. He paid it off over 3 months ago.
  
  Please use ANY other bank. THEY WILL STEAL FROM YOU FAMILY.
  

  PenFed Credit Union

  Date: 07/17/2023

  Hi Samantha, we're sorry to hear of your negative experience. We strive to provide service excellence in every interaction, and we regret you feel this was not demonstrated to you. We encourage you to continue working with Member Services at ************ regarding your share secured loan questions, as they can view your accounts and help answer your specific questions. We appreciate you taking the time to share your feedback.

• Review fromMohammad M

  Date: 07/15/2023

  1 star
  The worst credit union I have ever dealt with. I have made double payment toward my loan and my next due date was on 1 month later when I made payment on the due date only couple dollars went to the principal and the rest is swallowed by them as I accrued interest even-though I normally made payment on time. I would not recommend this place for anyone they are thieves.

  PenFed Credit Union

  Date: 07/17/2023

  Hi Mohammad, we're sorry to hear you've been dissatisfied with your experience. PenFed personal loan interest accrues daily. The interest deducted from
  a monthly payment is dependent on the principal balance and the number of days
  between payments. If the interest owed at the time of your payment is fully paid, any remaining payment amount will go toward the principal balance of your loan. For more information about interest accrual or how payments are applied, please call us at ************ and a representative would be happy to assist you.

• Review fromStephanie N

  Date: 07/14/2023

  1 star
  Penfed made me gather my information for two weeks and I was uploading everything they asked as I was only applying for a credit card.
  However when I never received any answers, calling them on numerous occasions for an update, they would just ask to keep uploading more documents. I already sent them but they replied the corners of my SS card could not be seen.
  Are you kidding me? Yet that would override a government issued license as well?
  Anyway I get to that part and the girl told me I was denied! After sending ALL my documents! And after I kept calling for a status update,
  WORST CARD TO APPLY FOR. I almost feel discriminated against because there should be no reason why I was denied when my 91 year old mother got hers in two days.
  They want you to put $5 dollars for membership. I never heard this for applying for a credit card.
  Not worth the horrific strings they pull on you.
  If you want to go through trying to get into Fort Knox then be my guest.
  I regret applying.

  PenFed Credit Union

  Date: 07/16/2023

  Hi there, we're sorry to hear of your negative experience. Our verification procedures are in place to ensure the safety and security of our members' accounts, but we regret any inconvenience this process caused for you. We would like to assure you that PenFed is
  committed to fair and responsible lending in offering competitive loan products
  to members through our consumer and residential mortgage loan programs. PenFed
  will not permit or tolerate discrimination in any aspect of the credit
  transaction process. Thank you for taking the time to share your feedback.