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

  120 Windsor Center Dr East Windsor, NJ 08520-1407

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  PenFed Credit Union

  151 West Corporate Drive Madison, WI 53714

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  PenFed Credit Union

  2338 Lumpkin Rd Augusta, GA 30906

Review Details

• Review fromPeter T

  Date: 06/05/2023

  1 star
  Bank by Phone Disaster - PenFed bought Sperry FCU and closed its local office forcing us to use its ATMs on-line and phone service. It has been terrible. We wanted to pay off our Heloc loan. We spent about 5 minutes trying to get the payout amount on-line before being told that we had to call. We were put on hold where we were bombarded with ads. Many of the ads were encouraging us to use the "help Center" which had referred us to the phone. Then after waiting 10 minutes we were told we had to be referred to another department and were placed on another "minute hold"

• Review fromJacqueline G

  Date: 06/03/2023

  1 star
  This credit union has extremely stupid policies. I transferred some money from another credit union on the 1st of the month and on the 3rd I checked both accounts to make sure the transfer was complete only to find that Penfed had the money but it was not available to use. I called and was told that there is a 5 day hold on that money. This is ridiculous. How do you put a hold on cash money?If the money wasn't available for transfer it would not have been transferred. This credit union is the worst. I had to go the entire weekend without access to my money.

• Review fromWarda I

  Date: 06/03/2023

  1 star
  Don't try this people, i repeat don't try refinance your car with this people. They will completely destroy you, they will make you miserable. DON'T TRY THIS PENFED CREDIT UNION for your own good. They will not send you no documents, nothing! They will destroy you. Stay away! I had my car for 4 years now and because of the malcommunication, they put a delinquent for the first time in my life in my credit report after i have continually paying, yesterday i found out they changed my payment because they putted an insurance on me and changed my monthly payment. I hate this company. Not talking about the customer service lady who will not even let you speak.i trully regret that i refinanced my car with them. I am full of regrets since i started dealing with this people.

• Review fromHolly M

  Date: 05/31/2023

  1 star

  Holly M

  Date: 05/31/2023

  I highly recommend NOT using this CU. I recently used PenFed CU for CDs and found that they are by far the worst (member unfriendly, staff incompetent, slow, and have the most exorbitant fees/penalties) credit union with which I've done business. And I have done business with several local and online financial institutions over many years. To close my CDs it took a ridiculous number of contacts (phone and email). I was given the wrong information more than once, my requests were not completed or not completed timely and several of the customer service people I communicated with were short and not at all helpful. It took close to a month to get my money! Again, I highly recommend NOT using this CU. I would give them a negative 5 stars if possible.

  PenFed Credit Union

  Date: 06/01/2023

  Hi Holly, we regret your experience was not more positive, and that you feel our communication and member service were lacking. We appreciate you taking the time to share your feedback.

• Review fromAnthony B

  Date: 05/21/2023

  1 star

  Anthony B

  Date: 05/21/2023

  After a painful application process, my loan was withdrawn after being approved, because I didn't view a promissory note that was never sent to me. Apparently their clerical department is terrible. I wouldn't trust them with my money.

  PenFed Credit Union

  Date: 05/22/2023

  Hi Anthony, we're so sorry to hear of the trouble with your loan application. We should always be clear and consistent in our communication, and we regret this was not demonstrated to you. We appreciate you taking the time to share your feedback.

• Review fromRussell H

  Date: 05/19/2023

  1 star

  Russell H

  Date: 05/19/2023

  This bank will not let me change my username, saying that I have to wait 15 days even when I told them I have security concerns with this account do anyone know what the rules concerning my rights as a consumer

  PenFed Credit Union

  Date: 05/22/2023

  Hi there, thanks for reaching out. We encourage you to contact us at ************ so a representative can help you update your login information. We regret your experience has not been more positive and appreciate you taking the time to share your feedback.

• Review fromTimothy G

  Date: 05/19/2023

  1 star

  Timothy G

  Date: 05/19/2023

  Trash. This credit union runs like a plant led by unprofessional and inefficient kindergartners. Communication and technology are the worst. I have never had to work so hard to give a business money. They must know this because an organization of this size not having an option for Google review is clearly hiding something. You will save cash but any savings you incur are fully lost in time spent and frustration. Save your time and money and take your business elsewhere.

  PenFed Credit Union

  Date: 05/21/2023

  Hi there, we're sorry to hear of your dissatisfaction and negative experience. We strive to provide service excellence in every interaction, and regret you do not feel this was demonstrated to you. We appreciate you taking the time to share your feedback.

• Review fromJean B.

  Date: 05/17/2023

  1 star

  Jean B.

  Date: 05/17/2023

  I refinanced a truck, belonging to my son, with PenFed. Loan was in my name, but my son made the payments. In July 2022, he traded that truck for a car. There was an issue paying off the loan interest, which was eventually resolved. It took several documented phone calls to resolve the issues, but I did eventually get confirmation that the loan was paid in full, as of 7/19/2022.
  I waited a couple months to be sure, and then contacted PenFed to close my account. I received a check for $24.74 dated 11/3/2022. I received a final statement showing a zero balance. Then last week, I received two different emails, from two different people, claiming my account was overdrawn, and was told to return the money. Since I get scam emails from financial institutions all the time, I ignored the emails as a probable scam, since I had closed that account 6 months ago!
  Then yesterday, I received a notice in the mail from PenFed that they have been trying to reach me because my account is overdrawn by $354.84. They said if I don’t pay it back I’ll be turned in for collection!!! WTH??? The loan was paid off 10 months ago & I closed my account 6 months ago, had a zero balance statement, so how can I now be overdrawn on a closed account that had a zero balance??? Now I’m told my account was never closed, and another request to close it was made.
  I replied that I wanted verification on the overdraft claim. A short time later, a different member service rep responded saying the default department was trying to reach me regarding the $354.84! I’ve sent two emails, with a photo of the $24.72 check PenFed sent me, which was the balance in my account, when I requested my account be closed. Now 10 months after the loan was paid off and 6 months after I closed my account, I’m getting default notices and threats to be turned in to a collection agency??? Does anyone at PenFed know what they’re doing???

  PenFed Credit Union

  Date: 05/18/2023

  Hi there, we're so sorry to hear of any confusion about the status of your accounts. Our communication should always be clear and consistent, and we regret you feel this has not been demonstrated to you. We encourage you to continue working with Member Services at ************ to resolve this issue. If you feel there may be fraudulent or unauthorized activity on your account, please report it as soon as possible.

  Jean B.

  Date: 05/18/2023

  I have communicated with PenFed. I provided them with detailed information about this dispute. As of today I have not received a response. I will keep you informed. I do plan to file a formal complaint if I don’t hear from them by tomorrow.

• Review fromScott F.

  Date: 05/17/2023

  1 star

  Scott F.

  Date: 05/17/2023

  "If it ain't broke don't fix it". BUT if it is, THEN fix it!
  I've been a PENFED (formerly Pentagon FCU) for almost 40 years. I've been through the ups and downs, grown with the changes whether good or bad, but this ONE issue I have is just not at all acceptable!
  I have a checking account (Access America) and two savings accounts (Premium Online & Regular). My complaint is in regards to the "5 day hold" policy placed on a transfer to the Premium Online savings. I FULLY accept the hold policy when funds are coming from an EXTERNAL financial institution. HOWEVER, I do NOT accept the hold policy when funds are coming from my PENFED Access America checking account. Whoever was the rocket scientist that didn't recognized this asinine inclusion needs to be fired. CHANGE the hold policy when the funds are coming from a PENFED account, especially when said funds were in that PENFED account for greater than 5 days (meaning they would've cleared an external financial institution too) Modifying the policy will eliminate my need to call and request a supervisor release the hold, and save me (and you) a headache at that.

  PenFed Credit Union

  Date: 05/18/2023

  Hi there, we're sorry to hear of any inconvenience the Premium Online Savings account hold policy has caused. As a longstanding member, we particularly appreciate you taking the time to share your experience and feedback.

• Review fromKenyatta W

  Date: 05/15/2023

  1 star

  Kenyatta W

  Date: 05/15/2023

  Never had an issue until recently...Applied for PFCU auto loan using TrueCar Auto Buying on 4/24/23 & approved. Went to dealership to start paperwork & while waiting there, completed auto loan process & started to sign paperwork online from my phone, but at the very end once realized check was going to be mailed hurried out of it hoping it canceled/didn’t complete process. Went into local PFCU branch on 4/25/23 thinking I could sign paperwork there instead & pick up check only to find out I already signed paperwork & had to wait for check to come via mail instead of canceling that check & picking up check, so couldn’t get car that day as planned & had to wait for check (3-5 days). 5days later went back to PFCU branch on 5/2/23 even though hadn’t gotten check to request original to be canceled & to pick up a reissued one. Branch still stated couldn’t cancel check & reissue a new one & couldn’t even trace the check & now needed to wait 7-10 bus days. While still at branch, completed NFCU auto loan application via phone. Was approved for a cheaper rate & for a little more money (no money down needed), picked up the NFCU check & finally picked up my car before dealership closed on 5/2/23. Disliked that I was not immediately notified that by signing approved auto loan paperwork online automatically mails a check and you can't go to the local branch to pick up the check instead. I would definitely let others know not to sign paperwork online if trying to get check & car immediately. And NEVER received the check via mail within the later stated 10 bus days. Who mails huge funds via check in the mail without any type of tracking...makes no sense at all to me. If PFCU wants to continue to mail large checks such as this in the future, I suggest to send it traceable using whatever service & only should take 2-3 days to receive at the most! Although I do have big ticket products at PFCU that I will be keeping, I will definitely reconsider getting any new products in the future.

  PenFed Credit Union

  Date: 05/16/2023

  Hi Kenyatta, thank you for taking the time to share your experience. Our application process should be as seamless as possible, and we regret hearing this was not the case for you. We sincerely apologize for the delays this caused in purchasing your vehicle. We hope to continue earning your trust as a valued PenFed member, should you allow us that opportunity.