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

  6935 W Adams Ave Temple, TX 76502-5532

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  PenFed Credit Union

  2338 Lumpkin Rd Augusta, GA 30906

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  PenFed Credit Union

  255 Hopkins Corner Drive Waynesboro, GA 30830

Review Details

• Review fromLillie H

  Date: 10/13/2024

  1 star

  Lillie H

  Date: 10/13/2024

  PenFed, is a very deceptive credit union. They increased my interest rate from 2% from 2021 to 5.99%. . . The supervisor was rude and over talked me literally in so many words calling me a liar. They no longer offer a personal line of credit mines was a fixed rate. I am assuming since the ones that have that 2% they decided to increase rates without any notification. I have always been a A1 customer never late on any payments.early I have another $25k line of credit with another credit union that the rate has remain led the same. BEWARE!!!!!!!

  PenFed Credit Union

  Date: 10/15/2024

  Thank you for your feedback. We are sorry to
  hear you had a poor experience.

• Review fromNatasha W

  Date: 10/11/2024

  1 star

  Natasha W

  Date: 10/11/2024

  PenFed calls themselves a Credit Union, however they operate as a bank. Not just a regular bank but a bank where you can't open a simple Checking Account without having perfect credit. Please stop masquerading as a Credit Union, it's false advertisement.

  PenFed Credit Union

  Date: 10/12/2024

  Hello *******, thank you for sharing your feedback. We are sorry to hear you had a poor experience.

• Review fromJessica K

  Date: 10/08/2024

  1 star

  Jessica K

  Date: 10/08/2024

  Penfed Credit Union have the worst customer service. The agent had an attitude and did not resolve my problem at all

  PenFed Credit Union

  Date: 10/09/2024

  Hi *******, we regret we fell short of meeting your expectations. If you are in need of assistance or would like to provide more details, please message us at ********************************************************* or call us at ************.

• Review fromLashawn B

  Date: 10/02/2024

  1 star

  Lashawn B

  Date: 10/02/2024

  Penfed is a terrible credit union. Do not bank there.

  PenFed Credit Union

  Date: 10/03/2024

  Hi *******, we regret we fell short of meeting your expectations. If you are in need of assistance or would like to provide more details, please message us at ********************************************************* or call us at ************. 

• Review fromAsher L

  Date: 09/25/2024

  1 star

  Asher L

  Date: 09/25/2024

  Wasted over a week of my time applying for a loan before denying me with no notice. Was approved same day at my bank. Will never ever use this joke of a bank for anything again.

  PenFed Credit Union

  Date: 09/26/2024

  Hi *****, thank you for sharing your feedback. We're sorry we were not able to approve your loan request. If you have any questions about your application, please contact our ************** team at ************.

• Review fromAnnette W

  Date: 09/18/2024

  1 star

  Annette W

  Date: 09/18/2024

  AW - Applied for a Personal Loan (PL) was denied by PFCU for these reasons Utilization of accounts, number of accounts and/occurrence of a derogatory event and credit score of 754 and sufficient funds with PFCU. I have called and sent in numerous requests to clarify their reasons for denying. As of today, PFCU has not clarified their wording.After filing a complaint with the Bureau of Consumer Federal **************** (BCFPB), PFCU approved the P/L with an outrage rate of *****% for 60 months yet no clarification on their wording.Please note I have been with PFCU 35 plus years and paid all loans on time and have a credit score of 754 (at the time applying for the loan), sufficient funds in the account, sufficient income and own my home. I received a response from PFCU claiming they don't discrimination but nothing clarifying their wording and why the *****% rate.

  PenFed Credit Union

  Date: 09/20/2024

  Hi *******, thanks for applying for a personal loan with PenFed! As our Chairman of the Board of Directors communicated in his response to your letter earlier this month, we do not disclose our internal lending guidelines. Our credit decisions take into consideration many different factors and are based on the information in your application and your credit report. Thank you for choosing PenFed - we value every opportunity to serve you.

• Review fromJames B

  Date: 09/08/2024

  1 star

  James B

  Date: 09/08/2024

  We have a refi mortgage with PenFed since 2015 and a paid off Home Equity Loan for improvements since 2009. We were sent letters from them to apply for another HELOC which we did. After jumping through all their hoops for 3 weeks and were approved financially (our house is worth 1.3 million dollars and a healthy ***** But then we received a call saying we were denied because we had a larger lot than their made up 15 acres. We dealt with 3 different individuals and none of them knew who we are after being a good customer for so many years. I called and asked a supervisor to send us a letter of apology for their mistake and what they put us through. Yes they did send us 2 letters stating that we were denied because we had inadequate collateral. This is a lie. Now our credit score is now lowered for 2 years because of their worthless inquiry. This company is terrible to dealstay away.

  PenFed Credit Union

  Date: 09/09/2024

  Hi *****, we're so sorry to hear of your recent HELOC application experience. We recognize the importance of transparent communication throughout the home loan application process and we appreciate hearing your feedback. If you would like to discuss your application further, our home loan specialists are available at ************.

• Review fromZachary B

  Date: 09/04/2024

  1 star

  Zachary B

  Date: 09/04/2024

  This is a criminal company masquerading as a legitimate business. Apparently, the only way this company stays in business is through some significant political connections because almost any other business that operated this way would be investigated for fraud and theft. What's my basis for this?For 2 years, I talked to PenFed while going through financial difficulties brought about because of unforeseen family obligations and loss of employment. Only retrospectively can I see their deep sham system of "hardship requests," "Bump payments" (to get caught up), mistaken repo possessions after payment ("we may have made a mistake"), to outright theft and the most toxic capitalism. Over a 2 year period, I wrote 4 hardship letter requests that were "lost," ignored, and "being reviewed" while the person who "is working on your case" was always out of the office. This scheme with assurances fell apart when the response to my hardship request was that:"Your situation was foreseeable."Yes, sickness, loss of work, death are foreseeable. Not. What unethical monsters PenFed is. After the latest decision that my hardship application was denied, PenFed then offered a "Bump program" and assured me that with my payment on August 15th, my car would remain in my possession until "September 15th."2 weeks later they repossessed my car.When I called to ask what happened, they started their sophisticated lie with "it looks like we made a mistake" and "my manager tells me to give the car back to you without penalty" followed by "but it looks like you may not have accepted the program" connected to gangster fees.The manager would then "review the conversation" at which point they made up a lie about the conversation and supported with an arcane rule never shared despite my payment that sadly "would not be able" to return my car.The company should be persecuted as thieves. Does BBB have negative ratings?

  PenFed Credit Union

  Date: 09/05/2024

  Thank you for taking the time to share your recent experience with PenFed. We are sorry to hear about your situation. We have documented and shared your concerns with our team for review.

• Review fromRobin A

  Date: 08/29/2024

  1 star

  Robin A

  Date: 08/29/2024

  This company is THE WORST. I have asked repeatedly for them to stop contacting me. I signed up for all the sites to keep them from sending me mail and taking me off marketing lists. How are they still able to contact me? I want it to stop! Can someone please help me figure out how to make them stop sending me credit card and loan mail with my name all over it?! Thank you!***** A

  PenFed Credit Union

  Date: 08/30/2024

  Hi *****, thanks for reaching out. If you're a PenFed member, our *************** team would be happy to update your contact preferences at ************ or by secure message at PenFed.org/help. If you're not a member, you can learn about opting out of receiving mail solicitation from marketers at **********************************************************;

• Review fromSirus Z

  Date: 08/28/2024

  1 star

  Sirus Z

  Date: 08/28/2024

  I am writing to formally express my deep concerns and dissatisfaction regarding PenFed Credit Union's failure to comply with proper credit reporting practices, particularly in relation to my satisfactorily paid personal loan. Despite fulfilling my obligations and ensuring that my loan was paid off in a timely manner, your institution has not accurately reflected this on my credit report.Furthermore, I am alarmed by PenFed's apparent disregard for the Fair Credit Reporting Act (FCRA). The inaccuracies on my credit report are not only unjust but also in violation of my rights under the ****. I have made numerous attempts to resolve this matter, but your team has failed to adequately investigate and correct the discrepancies.Additionally, I have encountered significant issues with your autopay system, which has failed to process payments correctly on multiple occasions. Despite bringing this to your attention, PenFed has not taken appropriate action to address the underlying problem. This has caused unnecessary stress and potential harm to my credit standing.I request immediate action to rectify these issues, including a thorough investigation into the improper reporting of my paid personal loan and the persistent problems with your autopay system. I expect a prompt resolution and a written confirmation that these matters have been corrected.Please consider this letter a formal complaint, and I urge you to take the necessary steps to ensure compliance with the **** and uphold the trust that your members place in your institution.

  PenFed Credit Union

  Date: 08/29/2024

  Hi there, were sorry to hear that you believe we are reporting incorrect information to the credit reporting agencies about your account. We encourage you to continue working with our ************** team regarding this issue. If you have any questions, please call us at ************. You can also send us a secure message by visiting PenFed.org/help.