PenFed Credit Union

I CAN'T BEGAN TO TELL YOU THE RUDNESS I BEYOND WORDS, I HAD A LAWYER FRIEND LISTEN IN AND HE WAS IN SHOCK. I BEEN ON HOLD A HALF A DAY LIED TO FORM AGENTS SAYING THEY ARE SUPERVICERS AND ARE NOT. THERAN MY CREDIT AND I HAVE PERFECT CREDIT AND NO ONE PRCESS THE PAYMENTS AS TH3EY SHOULD AND IHAT3E THEM AND WANT TO CLOSE MY ACCONT.

I have paid my Penfed *** ending *** in full in the amount of $4648 prior to credit bureau being updated. I received a text from Fico this morning that $4648 has been updated on all 3 credit reports. This amount should be $0 since the account was paid in full prior. I have been a member for a long time and cannot believe I am being treated this way. I am told that Penfed updates credit reports the last Saturday of the month. This is negatively affecting my credit score. *** last 4 of SS

I applied for a cash out refinance on Oct 28, 2019. I chose PenFed because I heard great things and the interest rates. However, my encounter with PenFed has not been pleasant at all. Below are a list of my concerns:

1. When I applied for the refit, I was g*** a closing date of Oct 27, 2019. Well as of today, my loan is sitting in underwriting and has been since Nov 15th or 18th. I have not idea when my loan will be reviewed. I have been told that the delay is due to an over load of applications since the interest rate dropped. But this long of a delay is totally not acceptable.
2. Mortgage Customer Service Concerns - When you call PenFed mortgage department you get an operator that doesn't work for PenFed. If the operator is not able to reach the loan officer or loan processor assigned to your loan, you are asked to leave a message and you never receive a phone call. On a couple of occasions when I emailed, I received a response stating that they were busy working on another loans and would contact me later.
3. Loan Officer Concern - my initial loan officer was Ms. Bonita B. Something happened Ms. B after she took my loan application. I emailed her on Nov 13 and received an automatic reply email informing me that Ms. B email was not long valid and referring me to all of these different numbers. I called several times trying to find out what was going on and was unsuccessful until Nov 21 or 22 when I finally reach this nice lady in another department who instant messaged Ms. Amy Hermes, who I was told was a Supervisor in the mortgage department. Ms. Hermes assigned my loan to another loan officer.
4. Holiday plans - My job live alone in VA and wanted to make plans to go home to see my family for Christmas. I reached out to PenFed on several occasions to inquire about the likelyhood of my loan closing on time so I could make plans because I had to work on the 26th. I was ensured that we were on track to close so I decided to stay in VA and miss Christmas with my family. Well this sacrifice was for nothing because my loan is still sitting in underwriting and I have not idea when it will be reviewed. I was so upset that I was going to pull my loan application. But Ms. G, my loan processor called me because she knew how upset I was. She was extremely pleasant and explained that if I pulled my loan, I would have to restart the process all over and lose my interest rate. So, after speaking with Ms. G, I decided not to pull my application but I am extremely frustrated with this waiting game and uncertainty.
5. On Dec 12th, Ms. Hermes expedited my loan. I received a call from my loan offer and Ms. G. I was lead to believe that my loan would be reviewed by underwriting and that I would receive a response within a few days. Well it is 26 Dec and my loan still hasn't been reviewed and I have no idea when it will be reviewed.
6. Interest Rate Concern - I locked in my interest rate but it will expire on 27 Dec. I was told that PenFed would honor my rate because it was their fault that my loan didn't close on time. However, I am concerned based on the way my loan has been handle those far.

I would really appreciate it if someone could tell me when my loan will be completed. I am so tired of hearing, your loan is in underwriting whenever it is reviewed, we will contact you.

I am a victim of identity theft and have placed theft alert and a fraud alert on my credit report for the next 7 years in 2015. In 2017 five identity theft account from Penfed, ***, ***, *** and *** were open; each of them upholds the Consumer Credit Protection Act and as REQUIRED on my credit report to contact the phone number on files first and verify before issuing a credit card. Penfed Credit Union is the ONLY COMPANY THAT FAILED to check this and verify before issuing out a credit card. A credit card with a limit of 10,000 dollars was FRAUDULENT ISSUED OUT. Penfed Credit Union failed to Protect Consumers from Identity theft by overlooking an IMPORTANT FACTOR IN MY CREDIT REPORT! I have reported this incident to the attorney general Keith Ellison of MN as of 12/17/2019. I was not made aware of this account until it was reported to the three credit bureau since knowing that I did not open any Penfed Credit Union credit card, I called their Fraud Department back in 2017 to report that this account does not belong to me and it is IDENTITY THEFT. Penfed told me that this account will be shut down for identity theft and if they have any further questions they will call me. That was the last time I hear from Penfed until 08/05/2019, *** a debt collector called me to nullify me that if I do not pay them X amount or there will be a court judgment on me. Knowing that this account was a result of identity theft, I have hired an attorney which have cost me a lot of money in the process. On 09/09/2019 My lawyer has nullified me that *** has agreed and come to a term that this account was a result of identity theft. *** also sends me a written document that this account does not belong to me and is a result of identity theft. *** have also REMOVED their collection mark from my CREDIT REPORT, but can't remove Penfed charge off mark. My attorney and I have since contacted Penfed Credit Union for them to remove the charge off and to provide proof that they have followed the Fair Credit Act and the accuracy of the account. Yet Penfed Credit Union has not called us back or email us any information refusing to respond to us. My attorney have asked me to report this incident to the Revdex.com and hopefully force them to respond to us one last time before we move forward with a LAWSUIT against Penfed Credit Union for negligence and force removal. Penfed Credit Union have caused me damages in credit denial/mortgage, stress from debt collector, fees on attorney and credit card lost due to credit score drop with a charge off on credit report.

We've had this card for at least 6 years. Great for cash back on gas. As an authorized user I'm not allow to get unblocked if you've locked yourself out. They won't call the primary account holder. He has to call instead. When he did call the excuse was that the fraud department doesn't work on Sundays. Their website does not state that at all. Going to try another card or stop using them. I have enough cards anyway.

Confirming what others have stated, this bank is a nightmare to deal with. I ended up with them after my other credit union was taken over by them. Here are just some of the issues I've encountered:
- Messed up a wire transfer for a home closing
- Made an error that resulted in hard inquiry in my credit account for no reason
- Rude customer service
My husband is a veteran and I thought they were an organization that prioritized veterans and their families but it is clear they are not. Very disappointed.

This is regarding the benefit of *** Reward credit card. I am a new member of card and have been making purchases using the card. On 9/27 I planned to purchase airline tickets. Since I was going to required check-in bags for the trip, I had plans to pay for baggage fees hoping to avail of $100 credit per year that the card offers for airline incidentals. Before making the purchase I was wondering if the charges of regular airfare should be separated from luggage charges so that I receive the credit, so I called the customer service number of the back of the card. The customer service representative told me that it is okay to combine the regular fares with the luggage fees as long as there is a clear documentation of the luggage fees paid, so I went ahead and added the charges for additional luggage on the regular fare and completed the purchase with the Amex Pathfinder card. Our family went on a trip, but even after 10 weeks of the purchase there was no credit on my statements. When I called the customer service representative, he rudely told me "No credit will be given to you because the purchases need to be separate". When I reminded the customer service representative that I had specifically clarified from customer service to combine the purchases, he simply told me that "you have been misinformed by the customer service member and he cannot help in anyway". When I requested to speak to his supervisor, he changed the story and asked me to send the documentation to [email protected] of the specific baggage related charges. I did so, to only get the reply from customer service that the charges have to be separate. Nobody in the organization seems to take the responsibility as why I was given an incorrect information and why even after providing the documentation the credit was not given on the card.

I want to start this out by saying that I am a customer that required a hardship application through PenFed for my auto loan.

I purchased a vehicle in 2016 and PenFed is the bank the car dealership used. Everything was fine from the end of 2016 through the middle of 2019. No late payments, nothing. Then I lost my job, I got a new job but I do not make a fraction of what I used to make. I changed the due date of my loan, but eventually fell behind on the payments. I submitted a hardship application, which was a terrible process from the start. The reps were very rude all the time, I guess when someone owes a company money its no longer reasonable to treat them like a human being. The process was slow, I kept having to resend documents that I had already sent. At one point the application was closed and I had to call and get a little nasty with the lady who just "happened to find" the paper work that I sent that she was initially telling me wasnt there. Anyway, I got the hardship application approved. PenFed in their infinite wisdom decided the best course of action was to defer three months of payments that I was already late on and make the next payment due on December 22nd. Not the decision I wanted considering that I barely make 1000 a month now and am really struggling, but whatever I signed the hardship decision and faxed it back. Last week I got a letter saying that the first payment was due in January. Confused, because it said something different than my hardship approval, I logged on to the online banking portal to check. But the online portal says my payment is due on the 12th and its $160 higher than was the original payment was. I cant even afford the regular payment, so I have no idea why they think I can afford one higher. I called today to get clarification on everything. No one could help me, they kept bouncing be between departments. No one has an answer about the letter that I got that says payment isnt due until January, no one knows why the payment date online is different from the payment date on the hardship approval app. None of this makes any sense. I will be contacting a lawyer to review everything because this doesnt seem right. I did get one small sliver of an answer, the reason why my payment is higher is because I had made a payment aggrangement, of my own volition. I called it to switch the date of the payment arrangement but the very rude man who answered refused to do so, then I tried to cancel the payment, but the man refused to do that either, so I put a stop payment on it from my bank. PenFed doesnt get to dictate on which day or how much my voluntary payments are. And attaching that to my next payment is absurd. As I mentioned before I will be contacting a lawyer to review all of this, I dont know how I can go from making 80k a year down to 13k a year and only get 3 months deferred on my hardship application. This is cruel and will most likely end in a repossession on my record despite my efforts to do the right thing. I can not help that I was let go from my old job, I cant help that my new job doesnt pay me nearly as much as my old job. I very very clearly cannot afford a car payment that is more than half of what I make per month. I cant afford to live and yet I have this thing hanging over my head and everyone I deal with at the bank just treats me like its something I can control.

After getting car loan from Penfed They requested the car title as collateral. I sent them a car title by registered mail in October and they reported that they did not recieve it. I sent a second copy of the car title in November, it was signed as received by Penfed and they now cannot find the second title I sent to them.

The issue is the the online banking system has been having several issues the past year that they interpreted into the Federal Credit Union. I had checked my bank account before I made any transactions and it said that I what is that zero which means I had no money in my account. So I transferred $275 from my savings to my checking's on November 2nd and paid my online car payment. Within four to six hours I re logged on to the online website for the bank and it showed that the department for my car had already deducted the money out of my account and it already posted. So therefore all transactions that I had made previously showed that it had been posted also. I logged into my account today and it shows that I am now I'm negative $244. Last night I made a transaction from an account into my checking's of $40 and there were no pending transactions at all everything had already went through and posted to my account. So then I called the bank and was telling them about the issue and that how when I made the purchase it had already posted and everything had already been deducted out of my account and she was like well we've been having some issues with our system and we are aware of it and we're working on it but basically I was still going to be responsible for the fees due to the fact that my account was negative and I told her that if the online system was working properly and updated the information as needed like it was supposed to there wouldn't be any issues as far as me being negative everything would have gone through and I would have had enough money and they refused to help me in any kind of way even though they're aware that the system is not working properly and does not post things accordingly and I feel like as a customer who is supposed to be trusting their financial institution and along with the other customers that bank with the Federal Credit Union are not being treated properly if I would have known oh, that there were pending transactions I would have never transferred any money into that account that would have ended up making me go negative and my car payment not going through. I could have went to the ATM and withdrew the money or went and made the payment through a different account. I wouldn't put myself in a position where I would be negative Whenever there were other options for me to make the payment but because I did not have transportation that day and the payment had to be made immediately that's why I transferred it to my checking's account which again showed that there were no pending transactions, I don't feel like the issue has been resolved and customers of the Pentagon Federal Credit Union are going to be continued getting screwed

I started a mortgage refinance with PenFed and locked a rate on 9/11/2019. I provided all requested documents as soon as the agent asked me for those. The loan was supposed to close at the end of October 2019, but they passed their original deadline and loan is not closed yet, although I was told that I am approved for the loan product and documents are submitted to the underwriter. As a part of refinance I purchased homeowner insurance policy and submitted the quote to my loan agent. I received a mail from homeowner insurance company that my policy is canceled because of past due payments. After contacting homeowner insurance company I realized my initial loan agent, Carlos, started the policy before the final approval of the loan. I tried numerous times to contact my new loan agent by email and calling her direct line regarding this issue but she never responded. To purchase the previous policy, homeowner insurance company pulled my credit once, and now by being forced to purchase a new policy because of PenFed ignorance, insurance company has to pull my credit again. I am under Court order to remove my ex-spouse from the loan.The Court's deadline for removal was in September and I am under penalty for not meeting the deadline because of PenFed's lengthy process.

I financed a vehicle thru Fort Belvoir Federal Credit Union that was later bought Pentagon Federal Credit Union. Prior to being bought out by Pentagon Federal Credit Union, I refinanced the loan with Fort Belvoir Federal Credit Union. I can not recall the exact dates I refinanced the vehicle, I think around May 2016. Since Pentagon Federal Credit Union bought out Fort Belvoir Federal Credit Union, I have had nothing but problems. Every months I receive countless calls and mail regarding my loan, to include a demand for payment or surrender the vehicle because the loan had reached it's maturity date. I have gone into the Woodbridge location several times regarding the matter and each time I have been there, I was told my loan was current. Around the first week of each month I start receiving calls and letters stating my loan is delinquent. I've made each of my monthly payment on or about the 30th of each month for the exception of August 30, 2019 in which I paid on September 4, 2019. Every month Pentagon Federal Credit Union has been reporting my car payments late and has been conducting period inquiries of my credit report.

My vehicle was repossessed, and I have the funds to pay the past due balance along with any storage fees and continue paying the monthly car payment with no issues. The bank required me to fill out a short form asking what my utilities were and how much my monthly housing costs were. I advised them of this information along with the income information for the cosigner and was denied loan reinstatement based off of information that was never requested by the lender. The representative also advised me per the phone conversation had on 11/13/2019 that the cosigner had a car loan on their credit report which is actually the car loan that they cosigned for which put them upside down financially and I have proof per their credit report that was provided to me. I was advised that per my income I could not afford to pay the note based on “industry standards” of car insurance payments, food consumption for 3 people, and vehicle maintenance. The vehicle was purchased with a vehicle maintenance package which allows me to have regular maintenance done on the vehicle at no cost, and I do not pay more than $200 per month on food for my household. My utility bill is $100 per month and my car insurance is $120/ month and my rent is $1014. My net income is over $3000.00 and the co signer’s income is over $3000.00 monthly as well. I have been unfairly treated by Pentagon Federal Credit Union as they did not ask what my monthly outgoing vs incoming was and made up numbers based off of a standard that does not apply to every household. The representative also advised me that the only way I could have the information changed was if I could prove that I was on welfare for food. Which was completely inappropriate. My income now supports the car payment as I am free of the financial hardship I was previously facing and I am not being given fair opportunity to correct the issue as Pentagon federal Credit Union has concocted and inflated numbers based off of information that they do not have.

Auto-loan experience.

9/22 - Called to confirm about current advertisement of auto loan. (1.49% promotional Interest rate if buying a new car at 36 months)
9/23 - Approved for loan - mailed a check to me
9/30 - Received loan check at the promotional rate - 2.49% --> confirmed with operator that if buying a new car at 36 months, the promotional rate at 1.49% would take place.
10/26 - Arrived at dealership. Called to confirm again to ensure promotional rate at 1.49% before purchasing the car. Confirmed with operator that would be the case. Bought brand new car at the 36 month APR. Called again after arriving at home—once again to make sure. (2 phone calls to the company, before purchase and after purchase to make sure I would be honored the 1.49% rate.

Few days later

11/4 - My auto-loan was shown at 1.99% on the PenFed website. Confused, so I called to question. Operator would look into it.
I checked for myself online and saw a new advertisement at a promotional rate of 1.99%. PenFed gave me the new promotional rate that changed, rather than the previous rate I was trying to take advantage of. Informed the operator about my case, and the multiple calls I made beforehand and after that I had received multiple confirmations through out the entire process.

11/6 - Received follow up call - Apparently the promotional rate changed on Oct. 15th to 1.99%.
*That's fine PenFed didn't notify me, but I had called them Oct. 26th at the dealership; I was led to believe that I would still get the 1.49%
*PenFed blamed the dealership that they cashed the check in November and that's why the previous promotional rate was not issued; but then they claimed the promotion changed Oct. 15th. Told they would not honor the previous promotion.

1. Operator could have told me that the rate had changed the day I called on Oct. 26th when I was at the dealership. I mentioned multiple times that I was using PenFed’s services to take advantage of the promotional rate at 1.49%. Instead I was led to believe the entire time that I would receive that previous promotion and surprised with 1.99% 9 days after.
2. Was told they “reviewed” my entire recorded calls/ conversation; I was led to believe that I would receive the 1.49% all the way until 11/6.

I understand if I didn’t make any phone calls prior to/post purchase, but this is after I exchanged about a total of 5 phone calls lasting about 20-40 minutes with the operator to make sure this type of “bait and trap” would be avoided.

I speculated that something like this would happen, so I wanted to make sure, which is why I made the numerous phone calls to make sure I did everything on my part to understand the advertisement/promotion. I called weeks before the purchase, during the purchase, after the purchase, and requested that they honor the previous promotion for my efforts to ensure I receive the promotional rate; I lost an opportunity to finance with Honda at 1.9%...to me 1.99% and 1.9% is a big difference.

Even though the promotion changed Oct. 15th, the check I used was the issued check during the Previous promotion (2.49% is written on this check, so my speculation was that this check as still under that rate; rather than the new rate which was 2.99% --> 1.99%).

I feel misinformed throughout the entire process, and taken advantage of. I feel that the company is getting away with something that is not right, just because they can do so according to the "fine prints".

Set up a payment plan on past due auto loan with rep Johnathan S on 10/9/19. I have kept my end of bargain(Rep set up autodraft for 10/25/19 in which they drafted and received payment). I then get notification on 11/5/19 that they placed vehicle charge off on my credit report. I sent email on 11/5/19 to inquire.....no reply. I called 11/6/19 spoke with rep Mohammed, he refused to honor previous info. He said Charge off date was 10/23/19. I advised that Penfed rep should have told me that and required that I set up the Autodraft prior to 10/23/19. Rep on 11/6/19 wanted to set up new arrangement all together with different terms and refused to remove charge-off), he said would have supervisor return my call. I have not received a callback.

For 20 years I've been a loyal customer of Penfed. I've financed cars, refinanced home several times, took line of credit, etc. Never had this horrific experience I had the last time I tried to refinance my home. Something happened to these people. For a month they delayed my loan because they gave wrong phone number to the appraiser and completely ignored her emails informing them that she cannot reach me. On the closing date there were no documents available for signing. After short investigation we found out that they did not put my wife's name on the documents and had to prepare the disclosure again. But they did not do anything until we started inquiring. The delay accrued some extra interest on my existing loans as the payoff date had to move. They charged me extra for that. The bottom line is: any problem encountered during the process sinks deeply into some folder and stays there until you ask for status update. They will never contact you to solve the issue. You will have to figure out that, Gee, this is taking way too long, maybe something went wrong. For first time in my life I had to communicate with the title company and the mortgage company to solve their miscommunication. In the the past I would learn the name of the title company just during the signing. Now they asked me to contact Penfed because no one was returning their calls. Horrible, horrible, horrible! Sometimes I would crack a joke that there are three major archipelagos in the world: Yes (Western world), Njet (No in Russian), and Manana (tomorrow in Spanish). Penfed is Manana.

On 02/01/2013 I obtained a home equity loan from Pen Fed Credit Union this was for $50,000.00 with a maturity date of 02 /01/2028. I never took the total amount, my payments are $45.48 per month,I have diligently paid $700.00 monthly on this debt all my debts are paid on time or early with a credit score of 821. About a month ago I received a call from their collections department that I was three months behind on my payments, the lady advised that no payment had been received since June 2019. I moved out of Miami FL. north and made a point of calling or via computer to all companies that I had changed address and banks I have notes to the fact. the lady advised that the last check received was from Regions bank (Miami) I asked if there was any other banks listed and she advised Seacoast Bank(new bank) why would that information be there if I did not do the change. I stopped the conversation and called again a couple of days later, the gentleman saw the same issue and asked me to make a one time payment which I did and he asked me to log in and walked me through the automatic payment which I did. A week later I get a notice that I had been reported as delinquent to the credit bureau, my rating has been lowered to 721. Please check my previous credit history and advise what course I can take. Thank you.

We applied for a fixed rate home mortgage with Pentagon Federal credit union. We received a preapproval letter and provided all documents required for underwriting after we signed the purchase agreement and moved forward. Two weeks before close, I inquired about an appraisal which I received a response to provide more underwriting documents. I provided the necessary bank statement requested and heard nothing back and no one would call as requested. One week prior, we requested the status of the appraisal. We did not receive a response nor did our agent. 5 days before our close an appraiser contacted us to ask about a refinance which we were not applying for and she also had an incorrect close date. I then contacted Pentagon FCU loan processor and officer multiple times for next steps and he kept saying he sent it to his manager. I requested for someone to contact us so we could know if we were closing as we were with no housing as of Friday. We still have not received a response after I have requested a call, escalation and audit of our case. The bank has left us homeless as of Friday with no contact. We have excellent credit and are putting a high percentage down on a home. The customer service has been unacceptable and the ball was dropped somewhere in the mortgage process with no ownership of fault and correction.

Pentagon federal customer service representative by the name of Sophie got discrown a with me because I'm a parent whose car was compromised and I'm not not able to pay for any of my child's bills such as his living environment as of right now because I don't have a card now the 1st is tomorrow so I'm unfortunately able to pay any of the bills that are due at that time so much how because I wanna have a cart is going to suffer and they've already done you're wasting your transference as she at the nerve and audacity because I'm appear in I'm concerned a wide charges is still a credit to my count in why I'm still haven't received a car after I place this situation on last Wednesday so now I'm conserved

I CANCELLED the loan. Never cashed the check and never signed the documents to initiate a loan. At that point, the only thing I should see in my credit file is an inquiry. Yet, PenFed reported to all 3 Credit Bureaus as if this loan was established and then paid off and closed. That is inaccurate and it affects my FICO credit adversely. Please have your Loan Operations Team Management DIRECTLY CONTACT ALL 3 CREDIT BUREAUS and CORRECT this major mistake.

Experian
TransUnion
Equiafax

With all due respect, I don't need to dispute something that was clearly misreported and try to fix this major mess. This is an issue your Loan Operations team need to fix. Please escalate it if you are unable to help directly.