Astro

Dear [redacted],   Thank you for following up with us about your PenFed Auto Loan.   We received notification that proof of your insurance coverage for the time period of August 21, 2017 through November 4, 2017 was received and verified on November 28, 2017. Thank you for providing this additional information.   With the verification of the coverage over the entire loan period, the Collateral Protection Insurance premium will not be added to your loan balance.   We hope this matter is now fully resolved. Please feel welcome to call us at ###-###-#### if you have further questions or concerns.   Sincerely,   Christopher *. M[redacted] Vice President, Consumer Underwriting & Processing

Dear [redacted],Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) [redacted] account was received on March 15, 2017. I appreciate having the opportunity to address your concerns.We carefully reviewed your February 27, 2017 payment to your [redacted]...

account and determined the finance charge accrual was accurate. Your February 2, 2017 ending statement balance included only the finance charges accrued through that date. You paid the statement balance on February 27, 2017; however, there were finance charges for the period of February 3 through February 27, 2017 that your payment did not cover. Those finance charges accrued as a result of the cash advances you had taken, and not from purchases. There is no grace period for cash advances as there are for purchases. Therefore, you received a statement in March for these charges.As a result of your phone call on March 6, 2017, and as a courtesy to you as a longstanding member, we agreed to reverse the $50.32 finance charge. I apologize for the delayed processing of the refund. It was completed on March 15, 2017. You will see the credit on your April statement.I hope with this matter now behind us, you will again feel confident using your PenFed [redacted] card. Thank you for choosing to carry the PenFed Promise [redacted] card in your wallet.  We look forward to serving you for many more years.Sincerely,Senior Vice PresidentPayment Products and Services

Dear [redacted],   Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) checking account was received on May 17, 2017. I appreciate having the opportunity to address your concerns.   We have carefully reviewed your bill pay...

transactions. As you note, you scheduled a $386 payment to [redacted] on April 1, 2017. On April 4, 2017, a second $386 payment was requested. You state you attempted to cancel the April 1st transaction; however, because the payment had already been transmitted to [redacted], stop payment was no longer possible. It appears instead another payment was requested. On April 6th, a $200 [redacted] payment was requested and processed.   All three payments were sent electronically to [redacted]. The PenFed bill pay service makes these payments on your behalf, and then debits your PenFed checking account on your scheduled payment date. We are not able to reject their debits, which resulted in the overdrawn balance on your checking account on April 13, 2017. I hope you received the letter of explanation we mailed to you on that date.    I regret [redacted] will not refund your overpayment. I understand you spoke with [redacted] and she provided you with a letter of explanation for [redacted]. It is hoped this letter will help you in obtaining a refund from them. [redacted] is also willing to coordinate a conference between you, [redacted], and PenFed. Please feel free to contact her at [redacted], if you would like to make the call.   We would very much like to assist you to the extent we can. We value your membership, and every opportunity to serve you. I hope you will take advantage of our offer to speak with you and [redacted] to try to resolve this matter.   Sincerely,   Jim K[redacted] Senior Vice President, Operations

[A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. 
Regards,
[redacted]

Dear [redacted],Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) membership was received on May 29, 2017. I appreciate having the opportunity to address your concerns.Please accept my apology for our poor handling of your request to open a...

PenFed membership. This should be a quick process with one of our Member Service Representatives. I regret your call was lengthy, and that there was a processing error with the credit card funding of your PenFed Share account. We carefully reviewed our records and found the multiple submissions on May 18, 2017 to be a processing error. Of the several attempts, two were paid by your credit card issuer, $20.00 and $22.00. We processed a $22.00 refund to your credit card account on May 26, 2017. At your request, the $20.00 deposit to your PenFed Share account was refunded to you by check on May 30, 2017.Thank you for making us aware of your experience. It is through your feedback that we learn where we must focus our attention and make improvements.I regret you chose to close your membership, and hope you will find a reason to return to us at some point in the future.Sincerely,Senior Vice President, Operations

Dear [redacted],
 
Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) auto loan account was received in my office on December 28, 2015. I appreciate having the opportunity to address your concerns.
 
Thank you for choosing to...

finance your June 2015 vehicle purchase with PenFed. We received the title associated with your new auto loan on July 10, 2015; however, it did not list PenFed as lienholder. An application for lien placement was promptly sent to you on July 13, 2015.
 
PenFed faces greater financial risk and expense should a borrower default on a loan if the title for the collateral securing the loan has not been received and PenFed is not recorded as the lien holder. Therefore, we initiated a policy that allows us to compensate for this risk factor and increased repossession expenses by imposing a higher interest rate on these loans. We allow at least 150 days for a member or dealership to provide the title with the correct lien holder. We feel this is sufficient time for the local government agencies to process the necessary paperwork. Reminder letters to provide us with the title were sent to you on three more occasions.
 
While your loan was initially disbursed with a 0.99% APR, on November 17, 2015 the rate was increased to 14% due to non-receipt of a perfected title. The promissory note you signed states in part:
 
I agree to apply for and provide you with a Certificate of Title or any other document constituting proof of ownership of the collateral and your interest in it. I further agree to furnish you with such information and execute and deliver such documents and take any and all action necessary and appropriate to establish, perfect and maintain your valid and prior security interest and lien in the collateral. IF I FAIL TO TAKE THE ACTIONS I HAVE AGREED TO IN THIS SECTION WITHIN 150 DAYS OF THE DATE OF THE LOAN, I SHALL BE IN DEFAULT AND IN ADDITION TO THE REMEDIES OTHERWISE AVAILABLE TO YOU, I AGREE THAT YOU MAY, AT YOUR OPTION, INCREASE THE ANNUAL PERCENTAGE RATE I PAY ON THE LOAN TO THE HIGHEST RATE THEN IN EFFECT ON YOUR CLOSED END UNSECURED LOANS.
 
I understand we received the needed lien-placement application on December 2, 2015. PenFed then worked directly with the New Jersey Department of Motor Vehicles to obtain the title for your vehicle. The perfected title was received on December 24, 2015, and the rate on your auto loan was restored to 0.99% APR, effective to November 17, 2015. The reversal of the interest rate ensures you were charged interest at the 0.99% rate between November 17th and December 24th. A letter confirming this action was sent to your address of record the following business day.
 
I hope my response provides clarity on our position, and addresses your concerns on this matter.
 
Sincerely,
 
James *. K[redacted]
Senior Vice President, Operations

We received on April 18, 2017 your complaint that was filed with the Revdex.com regarding Pentagon Federal Credit Union (PenFed). I appreciate having the opportunity to address your concerns.We reviewed the circumstances surrounding our September 8, 2015 consumer credit report inquiry....

We found the inquiry was the result of your $14,537 Used Auto Loan online application and membership establishment on the same date. PenFed has a partnership with AAA to offer a variety of loan products, and your application was submitted through your membership with the Mid-Atlantic Branch of [redacted].To proceed with the online loan application and establishing membership, the following must be agreed to:By clicking the Continue button, I certify that I have read and agree to the disclosures below and agree to comply with all of their terms and conditions. I allow PenFed to obtain my credit report for the purpose of establishing PenFed membership or other financial services I may request. In addition, our process requires that you agree with the PenFed membership disclosures before completing the application, which state in part:D. CREDIT REPORTS. I understand that PenFed will obtain a credit report or other similar type of report which may be helpful or necessary in the evaluation of my eligibility or continued eligibility, for other reasons related to the maintenance of my accounts, or for PenFed products and services.Our records indicate the loan application was withdrawn on September 26, 2015, and the membership was closed on October 28, 2015.I understand you would like PenFed to remove the inquiry from your report. It is our policy that all reportable information is submitted to the consumer credit reporting agencies. We believe the integrity of the information obtained through these agencies is reliant on financial institutions reporting full and accurate information. Based on the consent provided during the application process, we are not able to request removal of the inquiry on your credit report.I hope my response has shed some light on the circumstances of the inquiry. We continue our affiliation with [redacted], and I encourage you to keep us in mind should you need a loan or other financial services in the future. Sincerely,Senior Vice President, Operations

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
 Complaint: [redacted]
I am rejecting this response because: While I understand the admittance to some of the things Pen Fed has said , but it comes across as Pen Fed did me a favors by giving me the 3 missed payment's
. I would have no [0] missed payments if Pen Fed had not made this mistake . Last but not least , what about touching on the point about my credit score .. That was destroyed ???
Regards,
[redacted]

[redacted]
I have reviewed the response made by the business in reference to complaint ID [redacted] and find that this resolution is satisfactory to me. 
[redacted]
[redacted]

Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) auto loans was received on March 19, 2018. I appreciate having the opportunity to address your concerns. I apologize for the difficulties you have had resolving the reporting of your PenFed...

accounts to the consumer credit reporting agencies. This is not reflective of the best-in-class service you deserve. Upon receiving your complaint, we thoroughly reviewed our reporting of your auto loans to the three major credit bureaus, and confirmed we are reporting accurate information for both loans. We believe the integrity of the information obtained through the credit reporting agencies is reliant on all financial institutions reporting full and correct information. In the hopes of resolving this issue, we reached out to [redacted] on your behalf, and they confirmed there are internal issues with your consumer credit report related to your name, which only they can resolve. Please contact [redacted] Consumer Services at ###-###-#### for further assistance with this issue. We hope this information is helpful for you as you look to resolve this issue with [redacted]. We value every opportunity to assist you with your financial needs. Sincerely, Vice President, Consumer Underwriting and Processing

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
 Complaint: [redacted]
I am rejecting this response because: My contention are as follow: On April 19, 2017; I did wrote a letter to The Department Of Veterans Affairs, Atlanta Regional Loan Center at Decatur, Georgia. Regarding my Certificate Of Eligibility for entitlement benefits. I address the issue with the Pentagon Federal Credit Union (PenFed). The PenFed claiming that my entitlement available is only for loan amount above $144.000. I request that the Veterans loan specialist expert explain us on written which is my entitlement benefits loan amount above $144,000. or below $144,000. I believe, I eligible to use this remaining entitlement for loan amount below $144,000. According of chapter 37, Title 38, U.S. Code.
Regards,
[redacted]

Dear [redacted] Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) membership was received on February 6, 2018. I appreciate having the opportunity to address your concerns. Please accept our apology for the difficulties you had when trying...

to close your membership after our merger with [redacted] Federal Credit Union. It is not our intent to make this process challenging. It is, however, our responsibility to verify the identity of the individual contacting us about the accounts. Your situation was complicated by the need to also confirm your address change. I regret we did not contact you directly to resolve your concerns. We closed your membership and on February 12, 2018 mailed a check for the funds on deposit to the address you provided with this complaint. We hope this matter is now fully resolved. If you have further concerns or questions, please feel welcome to contact us at ###-###-####. Sincerely,Senior Vice President, Operations

Revdex.com:While I accept the business response, they are once again incorrect. I was told by multiple representatives that buying from private party was not a problem. I called and asked before even making the deal. I'm sure it's reflected in my file the numerous phone calls which is why they are attempting to fix the problem. However, I have since secured a 3.1% rate with another bank on the same vehicle and closed the deal weeks ago. I will not be utilizing the loan offered by Penfed any longer and do not wish to pursue any future business with them after this poor business practice and will tell others to not pursue preapprovals with them until their system is updated.
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. 
Regards,
[redacted]

Dear [redacted],I am writing in response to your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) membership. Though you submitted the complaint on August 4, 2017, due to a communication issue, we were not aware of it until October 23, 2017. Please...

accept my apology for our delayed response.  I regret the difficulties you encountered with the establishment of your membership. Due to provisions in the U.S. Patriot Act, we must verify the identity of any person opening an account. If we are not able to do so or there is conflicting information, we require additional notarized identity documentation.Thank you for promptly providing the documents we requested. I apologize for the miscommunication with the information needed.  Unfortunately, we were unable to validate the documents you emailed to us on August 1, 2017.  Since we are unable to verify the documents, per regulation, we are not able to complete your membership.  These requirements apply to all individuals opening a new membership with PenFed.To qualify for membership with PenFed, you elected to join [redacted] and paid their $17 membership fee. The membership application submitted through the PenFed website completed your memberships for both Voices and PenFed. Your $5 deposit to your PenFed share account was also made at that time. The application stipulates that the portion of the credit card charge to pay the Voices membership dues is non-refundable. The dues are paid directly to [redacted] and PenFed does not profit in any way from this fee.Your $5.00 deposit to your PenFed Share account was mailed to you on November 1, 2017, and your membership closed. Though we are late providing it to you, I hope my response addresses your concerns and provides some insight on our policies.                                   �...⇄ Sincerely,                                                                                                                  PenFed Financial Intelligence

Dear [redacted],   Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) [redacted] account was received on March 9, 2018. I appreciate having the opportunity to address your concerns.   As you were previously informed, PenFed does...

periodically review the credit standing of members with lines of credit. The Cardholder Agreement and Disclosure Statement provided to you when you opened your [redacted] account states, “You understand and agree that we may terminate your account upon reevaluation of your creditworthiness.”   Due to a significant change in your credit score, we found you no longer met our lending guidelines, and closed your account on February 4, 2018. We notified you of the closure on February 3, 2018.    Thank you for speaking with one of our Loan Analysts on March 13, 2018 about the information on your credit report that led to our decision. At this point, we are waiting for your authorization to obtain a new credit report to verify the removal of the derogatory information, or other documentation of the credit report correction.   Please also note that this credit card account and your PenFed Overdraft Line of Credit must be current and below the credit limit prior to our consideration of re-opening the [redacted] account. You have 60 days from the date of closure to be considered for re-opening; otherwise, you will be required to submit an application for a new account.   I hope this information is helpful in understanding our actions and the terms of your PenFed loan accounts. Thank you for the opportunity to serve you.   Sincerely,   Vice President, Consumer Underwriting

I have always been with Pen fed since 09, I know most of their cards have no annual fees. Mine didn't for years but I guess it has changed terms and conditions which i'm okay with it. The negative credit report in my account was due because the fee was added to my 0 balance credit card, a zero balance that I kept for months.  Thank you for taking care of this issue and I am expecting a change in my credit report. I understand it can take up 60 days from now. I will be checking that as well. 
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. 
Regards,
[redacted]

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]
 Complaint: [redacted]
I am rejecting this response because:
IN ADDITION TO WHAT YOU HAVE EXPLAINED .....THERE WAS AN ADDITIONAL  WITHDRAWAL FROM MY BANK ACCOUNT FOR $300 ON 6/11 THIS IS THE OVERREFUND  YOU PAID TO YOUR CARDHOLDER...THIS IS THE $300 WE WANT RETURNED TO US...I HAVE ALREADY PROVIDED A COPY OF MY BANK STATEMENT SHOWING THIS CHARGEBACK/WITHDRAWAL.
Regards,
[redacted]

[A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. 
Regards,
[redacted]

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]
 Complaint: [redacted]
I am rejecting this response because:  Lack of explanation of closing agent of previous loan (i.e. 5/5 Jumbo loan: We've specifically asked that any early payoff penalty) as well as recent loan (i.e. 15/15 Jumbo loan). No explanation of at the Good Faith Estimate.  I could withdraw whole process (by paying processing fee ($6-700) at that time) if I was aware, I need to pay early payoff fee ($2100).  This should be identified prior to closing not after closing.  Nobody (closing agent nor PFCU mortgage agent) was able to answer at that time of closing on this fee (early payoff).  Also, payoff statement ONLY indicate as "Other Fees Due".  This is NOT acceptable for the customer of last 20 some years.  Also, my recent mortgage package has been delayed sometime so that my lock rate has to be renew and  PFCU needed to be hurried up before 2nd expiration of locked rate.  I'm deeply disappointed PFCU position on this requiest and again request carefully reconsidering this and compensate financial impact due to lack of recent mortgage processing.
Regards,
[redacted]

Your Complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) Share loan was received in my office on December 23, 2016, I appreciate having the opportunity to address your concerns.I Was Sorry to hear of the circumstances surrounding your November 11,...

2016 $1,000 Share Loan. This loan is a fully secured loan, which uses a portion of the funds in your Share account as Collateral. It is a great option for members looking to build or rebuild their credit. The interest rate was 2,050%, or 2% above the current Share account dividend rate, A Consumer Credit report inquiry is not completed; however, the Share Loan is reported to the major Credit bureaus, which helps to build credit standing.The requested loan amount is placed on hold but not withdrawn from the Share account at the loan's inception. As payments are made to the loan, the Share funds on hold are incrementally released. You Were provided with $1,000 cash when you visited the branch on November i2". This was the proceeds from your loan. A hold was placed on $1,000.00 of your $2,336.78 Share account balance; however, the Share account balance was not decreased by the loan amount, When you requested to cancel the Share Loan on December 1, 2016, $1,001.06 was transferred from your Share account to pay the loan in full. In effect, this was the withdrawal for the cash you received at the branch. As you had made other withdrawals from your Share account since November 12, the balance was reduced to $111,46 with the payment transfer.Our Communication to you regarding the requirements for a share secured loan during your November 11" call to us, and during your November 12" visit to our branch to pick up the loan proceeds and promissory note, were obviously not sufficient. I recognize the assistance our representatives provide directly impacts the financial decisions our members make; therefore, clarity is of the utmost importance. We strive to provide exceptional service in every interaction, and I regret your experiences were not reflective of our commitment to providing best-in-class service.I regret this experience has left you with an unfavorable impression of PenFed. I hope my correspondence in this matter alleviated your concerns and we are on our way to rebuilding your trust in our abilities to meet your financial needs and treat you as a valued member.Sincerely,Jim K[redacted]Senior Vice President, Operations