Business Profile
Credit Union
PenFed Credit UnionThis business is NOT BBB Accredited.
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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
1.18/5 stars
Average of 217 Customer Reviews
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Review fromWilliam R
Date: 10/25/2022
1 starWilliam R
Date: 10/25/2022
This place is a scam.
Added insurance with out my consent I already have insurance. Insurance company send proof twice.
Don't recommend anyone to do business with fed its a scam. Can't even get hold of anyone.PenFed Credit Union
Date: 10/26/2022
We’re very sorry to hear of your negative experience, and understand your frustration around submitting proof of insurance multiple times. PenFed partners with Allied Solutions to maintain insurance records for auto loans. We would advise you to contact them at
1-800-713-0261 to verify they have received your declaration page. Once we verify your existing coverage, the insurance added by PenFed can be removed.Review fromGail K.
Date: 10/20/2022
1 starGail K.
Date: 10/20/2022
I would like to share that this company went into business with a corrupt, fraudulent, predatory loan company named Goodleap aka Loanpal. I had solar installed at my home from a company called Pink Energy that is now out of business and went bankrupt. I'm a customer that has a loan and they listed me as a creditor because they owe me $7,000. I spent $81,000.00 that Goodleap paid PE way before installation. I tried to cancel this loan and they wouldn't let me. I have a balloon payment in 18 months to come up with 26% of my loan or payment will go up. Hmmmm....coincidence that it's the same percentage that PE stated we would get back in taxes? Yea, I think not. I pay $800-$1000 a month between my loan and my electricity. I'm a disabled combat veteran and I'm very dissapointed to see PenFed associated with this company as your name is ALL OVER MY CONTRACT!!!! You backed this fraud of a business! Shame on you!!!PenFed Credit Union
Date: 10/26/2022
We’re very sorry to hear of your negative experience. LoanPal is an affiliate of PenFed, but the actions they take are independent of ours. Unfortunately, we do not have the ability to change the decisions made by LoanPal, but we highly encourage you to reach out to them for further assistance. We greatly appreciate you providing your feedback. PenFed built its strength on the loyalty and commitment of our country’s servicemembers, and your perspective on this matter is particularly valuable to us.Review fromKevin P
Date: 10/16/2022
1 starKevin P
Date: 10/16/2022
I lost $1300 to credit card fraud with PENFED. Did a single transaction balance transfer offer, out it in autopay and put it away in a drawer. Searched and couldn't find transaction alerts in website which is poorly designed (should have been a heads up). 6 mos. later I discover charges from Amazon to their card which was never connected to my Amazon account in anyway. The charges and security breach could only have originated with them. They refuse to share any details of their internal investigation. RUN DO NOT WALK AWAY FROM THIS CREDIT UNION!PenFed Credit Union
Date: 10/19/2022
We’re very sorry to hear you were a target of fraud. We understand this experience can be stressful and we regret the quality of service you received from us did not help alleviate that stress. We regret that we did not provide the best-in-class service you deserve.Review fromMichael P
Date: 10/09/2022
5 starsMichael P
Date: 10/09/2022
I'm just a retired person with a Social Security check and small private pension. Overall I'm very happy with PenFed. I only have a Free Checking account along with Regular and Online Premium savings accounts. Their computer system is a little quirky, but that's my only complaint. I find you get better answers to email inquiries than you do over the phone. Their fees are extremely reasonable. It only $2.00 for a great Consolidated paper statement mailed to you. I haven't had any problems with PenFed.PenFed Credit Union
Date: 10/10/2022
Thank you for sharing your feedback. We are happy to hear you have been pleased with PenFed up to this time. We truly believe our success depends on your satisfaction and we hope you will remain an engaged member. We look forward to a long and favorable financial relationship.Review fromVince R
Date: 10/07/2022
1 starPen Fed is Bad News. It took 3 months to open accounts which I did electronically on line. Problem after Problem with these people. Issues with opening additional accounts. Website upload issues. It goes on and on. It's like dealing state employees at your local DMV. Run Fast and Run Far. It just not worth it. I gave up and went to discover bank. Good CD rates there.Review fromFrank D
Date: 10/03/2022
1 starFrank D
Date: 10/03/2022
Actually changed the terms of my Savings account without telling me, such that instead of being able to transfer 2500 a day I would only be able to transfer 2500 a month.
Not the liquidity one expects from a savings account, right? The deposits all cleared at least a month ago.
Naturally, I am closing the account but when I told them I would be expecting access to my funds then - when I close the account - they said "Maybe."
They seem to be implying that they expect to keep my funds indefinitely.
Weird.
Driving two hours down to DC now to get this all straightened out, as telephone customer service is no help.PenFed Credit Union
Date: 10/05/2022
Thank you for sharing your feedback. Due to an increase in fraud, we did limit the amount of funds available for transfer. We apologize for any inconvenience this has caused you. We regret you do not have a positive view of your experience with PenFed and wish you the best in your future banking experiences.Review fromDavid B
Date: 09/29/2022
1 starDavid B
Date: 09/29/2022
I have been a mortgage professional for over 20 years. I used PenFed on 2 previous transactions and it was like pulling teeth to get my loans through their system. On multiple occasions I had to correct their errors.
I recently applied for a new HELOC with them. The initial underwriting did not calculate my income or my debt to income correctly.........they were not even close. This is a very basic process. Although I am self employed with 2 companies........it is still a very basic process and one they should know how to do.
I decided that I was not going to spend my time handholding and guiding them yet again and cancelled my application. I re-applied with another lender who did calculate my income and debt to income correctly and issued an approval within 48 hours.
PenFed has lost my business for ever due to incredibly poor underwriting. They may be a good place for a savings account or a credit union but I would recommend never using them for a mortgage or HELOC.PenFed Credit Union
Date: 10/03/2022
We’re very sorry to hear of your negative experience. We are committed to providing superior service to our members in every interaction and we are disappointed to hear that did not happen in your case. We regret this event caused you to consider ending your relationship with PenFed.Review fromPablo A.
Date: 09/17/2022
1 starPablo A.
Date: 09/17/2022
The personal and the manager of fort Buchanan branch in Puerto Rico are rude and mean when I was making
A claim of the atm took my cash from
The deposit and didn’t show on my checking balance the employee gardiniel treat me with disrespect and throw me with a pen and a mini pad with a bad manner I told please I tanna
Talk with the branch maneger when he came with a bad attitude when I was making my point about my issues with the deposit gerdaline was laughing and mocking at me while I was talking with the branch manager this is unacceptable the way way they treat the customerPenFed Credit Union
Date: 09/19/2022
We are so sorry to hear of your recent experience at our Fort Buchanan financial center. We strive to provide best-in-class service in every interaction, and we deeply regret the service you received did not reflect this commitment. We appreciate you taking the time to share your feedback, and will use it to make improvements for the future.Review fromFayva L
Date: 09/09/2022
1 starFayva L
Date: 09/09/2022
The most incompetent (or may be it is by design?) bank. Department on top of a department on top of department.......... No one knows bank procedures. The goal is to make the customer to do something (wright a letter, upload ID..) and pretend that something is happening. Within 10 days I was told 6 times about "IT problems". I am calling bank on their request via email and nobody knows why I was contacted.PenFed Credit Union
Date: 09/12/2022
Thank you for sharing your feedback. We’re sorry to hear of your negative experience. We strive to provide excellent service and communication in every interaction, and we regret this was not demonstrated to you. We will use your feedback to make improvements in the future.Review fromJim M.
Date: 09/02/2022
1 starJim M.
Date: 09/02/2022
I liked PF quite a bit for the last 15 years (credit cards, auto loans and savings). Im the middle of hell now due to this fraud issue (as others reported on this site) - I was contacted by text and phone (all marked as coming from PenFed) stating possible fraud occued on my PF card. I called back for an update 2 days later and was told whoever it was that contacted me about my card - was a fraudster, and they weren't PF staff. She said my account would be locked down - they would handle/resolve and update me (never happened). Then, today I get a letter from PF showing I just received a 45000.00 "Signature Loan" that was dispersed last week! This is after I went through the who mess 3 or 4 times - still haven't heard a word from them. They had already had to reissue my card at least 3 times - saying it had been "compromised". Now this loan being opened in my name --never had any issues with my other banks or card issuer, but this makes 4x in less than 20 months with PF. Just beware and be careful. Always call their main number and don't respond to texts or emails like I did (same PF graphics - I never suspected anything.....feel stupid and mad.).PenFed Credit Union
Date: 09/09/2022
Thank you for sharing your feedback. We’re so sorry to hear you were a victim of fraud. We understand the anxiety and frustration that can accompany this type of experience. While we work hard to prevent fraud from occurring, we are committed to providing best-in-class, efficient service when it does affect our members. We would advise you to contact us at ************ to get an update on your fraud claim.
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