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

  255 Hopkins Corner Drive Waynesboro, GA 30830

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  PenFed Credit Union

  PO Box 1432 Alexandria, VA 22313-1432

Review Details

• Review fromMatt G

  Date: 05/14/2024

  1 star
  These guys are straight up bone headed and elementary when it comes to providing professional financial services! Loan services decision bares a complete lack of competence, effectiveness and efficiency as compared to all other comparable sized financial institutions. Penfeds segmented loan departments dont talk to each other and as a result you as a consumer pay the price when looking for timely service and Im sure this translates to increased overhead costs. Beware of their promises for timeliness and use caution around their lack of follow through. Thanks ***** for dropping the ball a good number of time's!!!They now for the second time have messed up on an application and as a result have had to run hard credit twice and are asking for permission for a third. Theyve done well to waste my time and show their internal chaos.

  PenFed Credit Union

  Date: 05/15/2024

  Hi *******, we're very sorry to hear of your negative experience with applying for a PenFed loan. We strive for excellence in every interaction and appreciate you taking the time to share your feedback. 

• Review fromPublicHelper I

  Date: 04/28/2024

  1 star
  Horrible mortgage lender falsely accuses missed payments. Due to serious illness & repeat hospital & ER visits, my acct was on their approved forbearance program for medical hardship. Even my credit agencies showed that my acct was in forbearance as of Dec 2023. This lender is fully aware of my serious health struggles bc hospital doctors sent them medical letters. Even though Penfed knew I was in hospital, they started foreclosure proceedings 2months before Dec 2023 without my knowledge while I am still under medical care & debilitated. They never once offered assistance for home modifications but went fr forbearance directly to initiating foreclosure WHILE my acct was in forbearance according to all 3 credit bureau agencies as of Dec 1, 2023. Multiple certified HUD counselors said Penfed did not follow proper legal procedures, bc if they had, they should have FIRST discussed other possible options such a modification before going directly to court without giving any warnings or opportunities to make a payment AFTER forbearance ends, which they did not. ****** decided to help me. Even the Judge ordered this lender to send me a loan modification application by specific date, but Penfed ignored Judges orders & did not send me any modification forms. So, lawyer requested that Penfed send the modification forms directly to law firm. Penfed went out of their way to make it that hard to get modifications forms that a Judge already told them to provide me. After I made 3 back to back monthly payments during the modification period, Penfed STILL reported to my credit bureaus falsely that i missed my payments and my good standing credit score tanked & they ruined my credit. I have all cashed bank ck receipts to prove Penfed did get all 3 payments. My credit went fr being in forbearance & in good credit score directly to ruined credit score immediately after forbearance WHILE MAKING 3 back to back payments to Penfed. Hope review helps public to make wise decisions.

  PenFed Credit Union

  Date: 04/29/2024

  Hello, we are very sorry to hear of your experience. We'd appreciate the opportunity to look into this further. Please send us a message at penfed.org/help if you'd like to share additional information. 

• Review fromBe K

  Date: 04/28/2024

  1 star
  This is a horrible mortgage lender, buyer beware Pentagon Federal Credit Union has repeatedly messed up my acct with ************* are unapologetic about their mistakes, but continues to be ruthless lenders. For a full year, they erroneously kept charging me late/non payment fees for monthly mortgage that was clearly paid on ******** have the date of fund withdrawal from my bank that they clearly did take my monthly payment. After repeated calls AND sending proof of payment, they still ignored to correct the errors. After several months of them continuously adding on fees on their own accounting errors, they erroneously claimed I owed them over $6k worth of allegedly unpaid payments, which was false! They accused me that I owed them this large sum of money & threaten to start foreclosure proceedings unless I paid them this money, which I did not owe them. No one should ever be bullied into paying what they dont owe, so I had no other option but to get help from a lawyer bc afraid of foreclosure. ****** saw my bank statements which clearly showed all payments made on ************* agreed to help me. It took a lawyer to send a legal letter, along with again all the same receipts evidence that I had previously sent to Penfed myself but receipts resent through a law firm, to then have Penfed correct their own accounting error & FINALLY they sent me a large check for overpaymenta full year after all the false accusations that I missed a mortgage payment. After a year long undue stress caused by Penfed, they still made ZERO apologies for their mistakes & they never sent 1 letter of apology, instead just a check in an envelope with no explanation except in the note line on check that said reimbursement for overpayment for a full year I was forced to overpay with their added on false late fees for a monthly payment I didnt miss. Unless u like being overcharged & headaches for a year, do not recommend this lender.

  PenFed Credit Union

  Date: 04/29/2024

  Hello, we are very sorry to hear of your experience. We'd appreciate the opportunity to look into this further. Please send us a message at penfed.org/help if you'd like to share additional information. 

• Review fromCHESTER S

  Date: 04/27/2024

  5 stars
  After reading some of the ridiculous negative reviews I had to put my 2 cents in. I've been a member of 20 years with **** a complaint. They've always been there for me and my family over the years. I would always go to them for banking needs first and foremost! Thanks Penfed for being the best Credit Union for our servicemen both active and retired like myself.

  PenFed Credit Union

  Date: 04/29/2024

  Hi *******, thank you so much for taking the time to share your positive feedback! We are grateful for the trust you have placed in PenFed to meet your financial needs. We look forward to serving you for many more years. 

• Review fromRobert N

  Date: 04/16/2024

  5 stars
  The representative i spoke to was very courteous, professional & knowledgeable. She explained to me what I was trying to gather information on. I was very comfortable with her answer. Everything was excellent.

  PenFed Credit Union

  Date: 04/17/2024

  Hi there, thank you so much for taking the time to share your positive feedback! We strive to provide service excellence in every interaction, and we are very happy to hear this was demonstrated in your case.

• Review frombruce t

  Date: 04/13/2024

  1 star
  This company is horrible. I received a letter stating I applied for a third credit card. I card to let them it was not me. They said ok and put a hold on my two cards which had zero balances. I called a few days later, and ******* explained to me they don't see any strange activities so i asked for them to release the hold and they did. There were no hard pull done to my credit report. So I was thinking everything was fine. Both of my cards showed zero balances, everytime I used them i pay them off within two days. Not too long after I received a letter from Penfed stating I was the one who was doing fraudulent stuff. When I called them they explained to me I needed to contact the police and do a report with them, email them two photo ID, and two proof of evidence that I live at my house. Until I do this they told me they put a total freeze to all of my accounts. I told them I'm not doing all of that. I talked to other reps and supervisors, and they were no help. If anything they were very rude. One supervisor agreed they would cancel my membership with Penfed if I mailed them back my two credit cards. It's been closed to two weeks, and still haven't contacted me to make sure my membership with them is closed, and they send my money back from my savings account.

  PenFed Credit Union

  Date: 04/15/2024

  Hi *****, we are sorry to hear of your situation. Our Fraud team carefully reviewed your claim that you did not submit a recent application with **. While our investigation did not support your claim, we do want to ensure the security of your account and have requested that you provide us with ID documents to restore full account access. If you have questions, please contact us at ************.

• Review fromShawanda C

  Date: 04/11/2024

  1 star
  I think this company is a fraud. I went on a lot to purchase a vehicle when I left I had a bank account with Penn Fed. They also have an insurance company that puts insurance on your car without you even knowing unfortunately on 5 March my vehicle was a total loss. No fault to me, but the other insurance company was making preparations to pay Penn Fed while waiting. I got so many messages saying that I needed to get insurance on a vehicle that was towed away March 5 and claimed as a total loss. I think this company should be shut down. The whole bank is a fraud. They take a vantage of people right now I do not have a vehicle because someone else hit my car and totally lost my vehicle and Im still getting calls saying I need to insure a vehicle that is totally lost

  PenFed Credit Union

  Date: 04/15/2024

  Hi there, thanks for reaching out with your concerns. All applicants are required to join PenFed and to insure their vehicle when taking out an auto loan. We are sorry to hear of the position you are in and hope you will contact us at ************ to reach an amicable resolution to this matter.

• Review fromJaqualin J

  Date: 03/22/2024

  2 stars
  We had an account with PenFed initially to get a loan for a vehicle many years ago. I have utilized them as my saving account. When I transfer money from PenFed to my other banking institution PenFed attempts to pull money from the other institution. They created a situation stating I utilized their app improperly to send my money and charge me a returned ach fee. My other bank charged me a returned check fee due to the issue PenFed created. I've had this issue happen twice now. I have been blamed for their malfunctioning software and have been charged 60 dollars on both ends. I had to wait for a text message from PenFed giving me a code to acknowledge I entered the information properly. You then enter the code sent and the money should be transferred. It's a great scam they are running. Then I spoke with the banker and asked them to just transfer the money and they say they will send it but don't. Once I am able to get the rest of my money out...I recommend using the Zelle to take your money out of PenFed securely before I close my account. They were helpful with a decent rate 13 years ago but now it's more heartache than I need trying to get my own money out.

• Review fromJohn A

  Date: 03/19/2024

  1 star
  If you want your credit rating to drop by 100 points or more try doing business with Penfed Credit Union. I held a PenFed credit card for over 2 years. I had not used their card for about 6 months because I have other cards that are more convenient. I received a warning from Experian about my credit score falling like a rock. With some investigation I found out that someone had fraudulently used the card for some TV subscription. I immediately call PenFed and after several phone calls over the next few days found out about the fraudulent charges. Not only did I have to pay the $16 for the fraudulent charges but also late charges, thinking this would resolve the problem and they would correct the late charges that were fraudulent. To my utter dismay they not only lied about correcting the problem the exacerbated it by claiming that it wasn't fraudulent charges after being told by their representatives that I that they would! I am now in the process of trying to correct it myself without any help from them. If you want your credit rating ruined, have any dealings with PenFed! They are the worst credit company that I have ever dealt with because of their dishonesty. I have many other cards and used to have an excellent credit rating until I dealt with PenFed. You've Been Warned!

  PenFed Credit Union

  Date: 03/19/2024

  Hello John. We are very sorry to hear that you had a poor experience when reporting fraudulent transactions, and thank you for your feedback. 

• Review fromTroy M

  Date: 03/13/2024

  1 star
  Troy M
  
  I recently did a pre-approval for a credit card, I got approved for 15K. I submitted my application, and got denied. The reason being they told me that since I opened account in August of 2023, they wanted to be careful. My credit score is 831. I have a DTI of 2%, with 205K in available credit. I asked to speak with a manager, and I was told that they wanted to be careful just in case I ever experience financial problems down the line. I told her that I haven't been late on a payment in over 13 years, and now you want to basically tell me that you want to deny me because they want to be careful. This was racially motivated!! I asked to close my accounts that day. Also, when I got pre-approved for the credit card, I also got approved for a car loan. I told Jane, that I would like to proceed with the car loan application, she told me that they couldn't use the credit pull, that they just got 3 DAYS earlier, they would need to pull another credit report! There is something racial going on with this credit union. My credit is in the top 5% in the country, but yet I am being told that the reason for denial is that I have TOO MUCH CREDIT available to me, why get more? Also, she mentioned that they just wanted to be careful, regardless to the fact that I have 1 inquiry, 205K in available credit, no late payments EVER! I am in the process of contacting a lawyer. They racially denied me, and I know that, there are people getting approved with credit scores in the low 700's. I spent the last 15 years of my life working on credit and paying everything on time, just to now being told that, you have too much credit, and the most recent account opened in August of LAST Year, is to recent. I would advise moving all your accounts from this credit union they are racist. I asked to speak with upper management, and was told that they couldn't provide me with a number for anyone.

  PenFed Credit Union

  Date: 03/14/2024

  Hi troy, we are sorry to hear of your
  experience and appreciate that you brought this to our attention. We can assure
  you that our lending decisions are based on established lending
  guidelines without regard to race, color, religion, national origin, sex,
  marital status, age, whether any income was derived from a public assistance
  program, and whether any rights were exercised under the Consumer Credit
  Protection Act.

  Troy M

  Date: 03/14/2024

  This is definitely racial! There would have been NO reason to treat me the way that you did, unless it was. So I guess people can get denied now with bad credit and excellent credit! Funny thing is, no other financial institutions see things the way Pen Fed does...thank God! I have read numerous reviews and it seems like, this was a blessing, because you countless dissatisfied members!