PenFed Credit Union

As described repeatedly to Pen Fed in all communication regarding this issue, a fraudulent account was taken out in my name/SSN. Never once during the issuing of this fraudulent account did the credit union question the incorrect name (maiden name was used), incorrect address, and incorrect work reference used to obtain this fraudulent account. When I became aware of this open account three months after it was opened upon reviewing my credit report, I immediately contacted Pen Fed's fraud department. I complied with their requests for my police report and all other requested information. After their department's investigation, they sent me an affidavit to rectify the error. I signed, notarized, and returned the affidavit to Pen Fed. A few months later, they decided to revoke this (and despite all errors on their part) and keep the fraudulent account open and mark it as defaulting on payments. How a business could so quickly issue a line of credit to someone fraudulently while there were several red flags that should have indicated otherwise yet refuses to help the innocent party like this is absolutely deplorable.

I currently had a consolidated Parent PLUS Loan through PenFed Credit Union - I had asked to refinance the loan in March $27,499.80- payoff was good until 3/18/20- was I approved for the refinance of the loan for 27,830 - I had made two payments on the first loan for $500.00. So did they continue to collect interest? It took them until May 8th to payoff the first loan (only cause I called) they were to pay it off by April 28th!! they booked the new loan for 27,830?? - I contacted them the middle of May requesting why I show TWO loans totaling over $55,000.00-once the loan was finally paid off the loan didn't show up online-they said Oh-it will show up in June!. However,they REPORTED on my CREDIT REPORT that I owe $55,00 -It still shows on my credit report as of 5/27/20!! I have contacted them 3 times (May 15, May21, May27) times now regarding this issue - NO REPLY!!! This DOES AFFECT MY CREDIT RATING!!!!!I don't care HOW busy the are with COVID...THIS IS TOTALLY UNACCEPTABLE-this is NOT a small amount of money!!I will NOT recommend them to anyone!

Applied to refinance a student loan. The original loan was with penfed, so the refi was internal. At the time, the payoff quote was approximately 64800. By the time they processed the loan, my remaining balance was approximately 64000. The new loan was issued in the original amount of 64,800, which is clearly wrong. During the 1-2 month processing time I had made 1 or more payments and it is clearly stated on the paperwork that the final amount will be adjusted to reflect payments while waiting for the loan application to be finalized. Obviously this didn't happen. I've called multiple times and sent 2 emails. I can't get in touch with anyone, terrible customer service.

Penfed offered student loan refinancing with 1.58% variable rates broadly on the internet. My wife and I applied, received approval for the loan and were made a written loan offer for a starting rate even lower than 1.58% but the offer also said "the rate will never go below 2%."

We called to clarify what the rate really was and how the variable rate would adjust and were told it was a mistake and would never be below 2%, despite the advertising. We were told we would be contacted to confirm the terms. We have have called Penfed 4 times and been promised follow up by Penfed each time and have not received it.

recently I applied penfed account, I got a mail ask me to mail an letter of my information so it can activate account. I asked them if I could scan and email it, because I live in the epicenter of cv19, queens, New York, we have stay at home order by Andrew Cuomo.. I didn’t get any response. I couldn’t risk my life go out mail letter. Please allow me emai. scanned document.

I applied for car loans with PenFed and when the result of the loan rate and term was presented to me I declined the terms as it was worst that the ones I currently have with other lenders. Additionally I called their customer service department and requested to cancel both applications as they didn't wanted to offer me the best rates taking into consideration that my credit scores are above 800, my financial good standing and other factors. Almost a month later, to my surprise, I received notification that one car loan was open and that I needed to make payment. That loan was not accepted by me and I didnt signed any documents in paper or electronically to accept it. Pen Fed uses bad practices and can destroy credit scores for people due to this type of practices. Credit scores are very important to anyone and cost too much to keep them at excellent levels like mine.

Penfed closed my credit card without any notification, on false pretenses, after horrible customer services experiences. My name is ***, Penfed membership ***. In April 2020, I was approved for a Penfed Power Cash Back Via card (application ***). This credit card account ends in ***.
I applied for this Penfed product per the recommendation of a friend, to substitute my standing *** credit card, due to the lack of customer service that *** is experiencing during COVID-19.
I live in Florida, and due to my age, I hold strict lockdown. Therefore, I depend on phone support and online purchases to get through.
I admit I made a mistake choosing Penfed over ***: This PenFed credit card has been the worst credit instrument I had had in my life!
My purchases were always modest (average purchase of $72.00) and local (within Florida and the US). Nevertheless, due to quarantine, they were all online purchases.
My card was constantly locked: I needed to reach the security department every 24 hours to clear transactions that were always from the same vendors! There is no automated way to do this, so you need to wait for an attendee, and the wait to speak to somebody is in excess of 40 MINUTES! As you can imagine, this became tiresome very quickly. In total, I had to follow this procedure 18 times, each time properly identifying myself and approving every transaction made.
This harassment did not stop for the whole month my card was active: it only became worst after 05/12/2020, when Penfed decided that going over my transaction and approving each one of them was not enough to release the hold on my account: the security department had to transfer me directly to PenFed to hold release, making it a two-step process. With every single transfer, my phone hold-time increased by another 40 minutes average. The last time I spoke to them, on 05-12-20, I was kept on hold for 4 hours 22 minutes.
Lastly, on 05-12-20, my card was closed by a “Financial Security Officer” who did not have the courtesy to contact me at all before closing my account.
While I understand that using your card for most online orders can trigger fraud filters, PenFed most realize that an enormous amount of population is in quarantine, making it necessary to make online purchases: there is no necessity to clear transactions 18 times in a month, sometimes for purchases of $20.60! Consider that PenFed does not have the manpower to provide proper support without extraordinary hold times.

Trying to pay my bill: Poor customer service from Penfed. Long on line waits, cut off, so I start anew at the back of the line. Has gone o for more than a month. If I Try for a call back, they put up a barrier--you have to go on line, a difficult for this 90 year old. When I do, more barriers.

Of I Try to write CEO--no email,.

I am receiving statements from PenFed Credit Union, PO Box ***, Omaha, NE *** regarding a credit card. I had never requested nor had credit with this entity. Calling at is crazy; nobody responds. According to the statements, I paid $62.90 on April 23, 2020, which I could not find on my bank statements. On the actual statements, they said that PenFed owes me $49.99. What can I do to resolve this issue?

I'm a real estate agent. My client had a preapproval letter from penfed. It's not worth the paper it is printed on. They never pulled docs to verify assets or income. Not knowing this I I negotiate a deal for them. Home was off the market for two months. Penfed kept asking for the same docs over and over again. They would send out requests at the end of business and leave the office. They would not return phone calls or emails. Underwriting denied the loan three days before closing because my clients debt to income ratio was to high. This should have been determined BEFORE they issued a preapproval letter. My client paid for a home inspection and an appraisal. They are out close to $1000 because penfed didnt do their job. What a total waste of time I would give them minus 5 stars if that was possible. DONT WASTE YOUR TIME WITH PENFED THEY ARE A JOKE.

On January 21, 2020, I went to a branch at Pearl Harbor, HI and submitted a request to update my father's account with an amended trust. To this date, the request has not been completed because the branch lost my request, then it was forwarded to legal for review, then my father needed to submit a signed letter, then the request and the signed letter were supposedly with legal for another review. I have contacted the branch numerous times to check on the status -- at no time did the credit union contact me with an update or a request for more information (i.e., the signed letter). When I last checked on the status in late April 2020, I was told legal was still reviewing and I needed to be patient. I've now run out of patience as it's been over 3 months. I updated my father's accounts with 3 other financial institutions and they took 1 day - 2 weeks to complete the request. Why is Pentagon Federal Credit Union taking over 3 months?

Opened an account in my name without my consent

Terrible customer service in the mortgage area. Signed the documents they present at the inception of the loan. Went to underwriting and was approved. Then receive another set of documents that changed the loan amount, added a discount % and a change fee amount. I did not ask for any changes be made to the loan. Then received very unprofessional email from Nicholas Alfaro telling me to pay the points or pay $2600 at closing. I have saved the email. What happened to what was agreed upon up front. Now they want more fees and points. I locked the loan at a set rate and for a set amount. Nothing was ever mentioned loan to value had to be right at 60%. No appraisal was performed so no telling where they got the value of my home. Did they make a mistake on the value. When I did the application he put everything in the system and said no appraisal was needed and then sent me the documents. So he had to looked up the value. Then week before closing receive more documents asking for points and a fee be made for change to loan. I did not ask for any change. If the loan officer made a mistake he needs to eat the costs. He completed the documents. I did not. I have called and emailed and no return calls or emails. I feel forced to have to sign the new documents and agree to $900 more in closing costs. Plan to report this to the Federal Reserve and other governing bodies because I bet there are more people like me that were told one thing and then PenFed changed the rules and added more fees.

My wife and I had a checking and savings account with *** Credit Union in Bartow Fl. I also had an auto loan with them.
We were informed late 2019 that *** was being purchased by Pentagon Federal which was no big deal. In January of 2020 I was involved in an accident with the truck financed by ***, I immediately called my loan officer at the *** branch and informed her of the crash, She informed me she would start the process and speak with the other drivers insurance about the payoff seeing how my truck was deemed a total loss, she also let me know that Penfed was taking over the following week but not to worry because everything would be handled. I asked about a new loan and was told that due to my prior history with them I would not have an issue getting another loan.
The other drivers insurance sent the check to Penfed a little over a week later however my loan was never updated, I was in constant contact with Penfed and was told that the check was probably lost in a "Black hole" because of the merger, I contacted the insurance company and they issued another check. All the while I was getting late notices from Penfed, I called and was informed not to worry about it everything would be handled. Finally they received the check which was applied to my loan, I previously informed Penfed that my Gap insurance was done by *** and I was unsure of who it was but was told by *** that as soon as the insurance check was received they would file a Gap claim for the balance. Penfed then claimed I did not have gap, After several calls they finally found the company and filed the claim which paid all but $322 of the balance which I immediately paid. After almost 3 months my truck was finally paid off and I could move on with the new loan, Or so I thought... I applied for a loan on the website which was denied due to my credit history which I admit is not the best (due to a death in family) I contacted Penfed and told them what I was told by *** and was rudely informed that was not how they worked. I then decided to apply with my wife as a cosigner which was still denied. I again contacted Penfed and inquired about having my wife apply by herself and was told that she would first have to apply to be a member which would require another credit pull. My wife's name was listed first on our *** account so how is she not automatically a member like me??? I asked the agent and was again rudely given the runaround and informed she would have to fill out the membership application.
I then notice on my credit report that my balance is still showing for my truck, and Penfed reported a late payment for February of 2020 , I called yet again and was informed I would have to contact Equifax I asked to speak with a supervisor and was given the runaround, I emailed 3 times asking for a supervisor to contact me and have yet to get any response. We never had any issues with *** , Unfortunately Penfed has been nothing but problems and runaround from the start. When I call and complain and ask questions I usually get rude answers and told that the merger team will look into it..
This entire time since 1-4-2020 I have been without a vehicle, Now with the late payment and balnce showing I am unable to get a loan anywhere.

Need a laugh? Try to get a credit card from this credit union. They will bombard you with emails to apply because you are a member. They will email you so much and then wear you down so you apply. Even with good credit they will turn you down. Only to add a hard pull on your credit. They actually hurt your credit by applying. I have received credit from more reputable companies like Discover and Citibank. Penfed will treat you like a name on a piece of paper. DON'T WASTE YOUR TIME with PenFed. This Credit Union sucks plus they are rude to you. Penfed please stop contacting me, I don't want to be a member anymore :-(

I'm very upset that Penfed haven't updated my credit report to reflect. I have affirmation from my bankruptcy which they agreed on if I made by 3 payments on time and they suppose to change past due payments and put it on the back of the loan. And I also send the forms on February to reflect the status of the account

I received notification that I opened and account with Penfed including all my personal data, this was fraudulent, I never even heard of them. They sent me a separate notice giving me the phone # supplied by whomever opened the account and their 800 # to call immediately if I had a problem. I called said # repeatedly, I went on their website and reported fraud (2x) and get two computer generated emails saying someone would get back to me and would I like to apply for a car loan. I finally got through to some supervisor(Christie) who said she couldn't get hold of the fraud dept. but she would have someone get right back to me. Then I received a letter saying they stopped payment on my check as I asked!!~!??

I was contacted in early March saying PENFED credit union was taking over first national bank's nra credit card. in April and that if I didn't want this to transfer from first national bank to Penfed to call and opt-out. by April 24th. I decided NOT TO TAKE THIS OFFER. On march 24th I called and spoke to a Female named Autum. I explained then DON'T SEND ME ANYTHING I DON'T WANT TO OPEN ANY ACCOUNTS WITH YOU. SHE STATED OK SHE WOULD TAKE CARE OF THIS. I CLOSED MY ACCOUNT WITH FIRST NATIONAL BANK PAID IT OFF AND CLOSED MARCH 27TH 2020. On April 8th 2020 I called PenFed again after receiving a 2nd letter. I spoke with a female named Stephanie I again told her I DO NOT WANT A ACCOUNT WITH YOU DON'T SEND ME ANYTHING OR OPEN A ACCOUNT I DON'T WANT THIS ON MY CREDIT REPORT I EXPLAINED I CLOSED FIRST NATION BANKS ACCOUNT PAID IT OFF IN FULL AND DO NOT WANT TO DO BUSSINESS WITH YOUR COMPANY. THANK YOU BUT NO THANK YOU I AGAIN PROVIDED THE CODE TO OPT-OUT. Stephanie STATED OK CLOSED! ON APRIL 21 2020 I GET ANOTHER LETTER STATING PENFED OPENED A SAVINGS ACCOUNT AND PLACED 5.00 INTO IT FOR ME. I CALLED AGAIN ON 4/22/2020 SPOKE TO A LILLIAN AND SUPPOSEDLY NOW IT IS CLOSED. *** PLEASE NOT THAT ON THE CALL APRIL 8TH I WAS ASKED IF I ACTIVATED THE CREDIT CARD THEY SENT TO ME. I STATED NO I HAVE NOT GOTTEN A CREDIT CARD FROM YOU AND DO NOT WANT ONE. nO CREDIT CARD EVER CAME EITHER. I HAVE NOT ENTERED INTO ANY KIND OF CONTRACT NOR DID I ACCEPT TO DO SO WITH THIS COMPANY I HAVE MADE A TOTAL OF THREE CALLS AND SPOKE TO 3 PEOPLE EVERYTIME SAYING I DON'T WANT AN ACCOUNT WITH THEM . I DON'T WANT THIS ON MY CREDIT REPORT. tHE OPT-OUT DATE WAS TILL APRIL 24TH 2020 I CALLED ON MARCH 27TH , AGAIN APRIL 8TH , AND AGAIN APRIL 22ND WHY THEN IS THERE ACCOUNTS OPENED IN MY NAME AND CREDIT CARDS ISSUED IN MY NAME WHEN I HAVE STATED AND GIVEN THE OPT OUT CODE 3 TIMES. WASTING MY TIME

I've contacted Pen Fed via email for over a month now regarding a $100 reward bonus listed on their website: https://www.penfed.org/credit-cards
I met all of the relevant criteria for the $100 bonus months ago and have not received it nor have I received a resolution or a satisfactory response from Pen Fed's Customer Service. One response I did receive, the representative didn't even know what bonus I was referring to. When I sent the same link I pasted above to them I received no response. This is not a financial institution I would recommend others deal with. I wonder how many service members they are dishonest with?

Month after month after making my monthly payment at least 5 days prior to due date on my home equity loan, the bank would receive my payment and not post it to my account. I would sit on hold for hours to get issue fixed rep after rep and get nowhere. bank takes money and does not reflect payment on principal balance. I sent payment in amount of $610 to a balance of $600 on 3/31, bank received payment on 4/2 then did not adjustment balance and added on late fee.