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PenFed Credit Union

PO Box 1432, Alexandria, Virginia, United States, 22313-1432

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PenFed Credit Union Reviews (%countItem)

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

PenFed Credit Union Response • Jan 06, 2020

We appreciate the opportunity to address your concerns.

We carefully reviewed your complaint and your Promise *** account. We understand you spoke with a representative and supervisor on December 28, 2019, and they both confirmed we report credit card accounts to the Credit Reporting Agencies (CRAs) on the account’s statement cycle date. We do not report credit card accounts on the last Saturday of the month, unless your cycle date falls on the last Saturday.

Your *** cycled on December 24, 2019 with a $4,648.81 balance. Your online payment made on December 24, 2019 did not post until after the *** cycled. The following disclosure shows when making online payments:

“Any payment made from a non-PenFed account may take up to 48 hours to update the current balance and available credit on your credit card.

*Please note that the payment will be effective as of the scheduled transfer date. Credit card payments made after 6:00 PM Eastern Time and payments made on a Sunday or a holiday will be effective on the following business day.”

Our reporting is correct, and we do not offer courtesy off-cycle updates. We will submit our next update for your *** to the CRAs on January 24, 2020. We recognize this is not the outcome you were hoping for, and regret we are unable to honor your request. We hope the information provided is helpful when scheduling your future payments.

Sincerely,

Senior Vice President/Chief Credit Officer

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.

PenFed Credit Union Response • Jan 07, 2020

We received your Revdex.com complaint on December 26, 2019. We appreciate the opportunity to address your concerns.

Thank you for choosing to refinance your mortgage with PenFed. We are sorry for the extended processing time due to the high volume of applications we have received. Though we wish your experience had been more positive, we appreciate that you brought this matter to our attention. Member feedback such as yours helps us to address areas in which we can improve.

We understand Mortgage Management contacted you regarding you experience, and your application is Conditionally Approved. Please follow up with them if you have any additional concerns.

Sincerely,

Senior Vice President/Chief Administrative Officer, Retail Sales

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.

PenFed Credit Union Response • Dec 30, 2019

We received your Revdex.com complaint on December 20, 2019. We appreciate the opportunity to address your concerns.

A membership and *** were opened in your name in January 2018. In July 2018, you contacted us and reported the account as fraud. We closed the membership and ***, and submitted a request to the credit reporting agencies to remove our inquiry. We attempted to mail you a fraud affidavit, but we did not have a correct address for you. We again tried to obtain a correct address in January 2019 before we charged off the ***, but were unsuccessful.

During your November 2019 conversation with us, you stated the ID theft was committed by a family member and you did not want to pursue a fraud claim.

We have not received your complaint from the Minnesota Attorney General. We are currently reviewing our application processing, credit reporting, and the actions taken by United Holding Group. We will mail you a letter with the outcome of our investigation, and respond to the Attorney General if we receive their complaint.

Sincerely,

Vice President, Collections

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.

PenFed Credit Union Response • Dec 24, 2019

We regret you had difficulty contacting us to unblock your online account access. We would like to speak with you about your concerns. We attempted to contact you on December 20th and left a voicemail. Please follow up with us at your earliest convenience so we can resolve this matter for you.

Sincerely,

PenFed Credit Union

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.

PenFed Credit Union Response • Dec 17, 2019

Thank you for bringing your concerns to our attention. We are sorry to hear of your dissatisfaction with PenFed. We are aware your recent calls with us did not provide you with the best-in-class service you deserve, and we have shared your feedback with management so they may provide additional training and support.

We understand our Underwriting team spoke with you to address your additional concerns. We hope you are pleased with the outcome of that phone call, and we look forward to continuing to earn your membership for many years to come.

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.

PenFed Credit Union Response • Dec 17, 2019

Dear member,

We received your Revdex.com complaint on December 13, 2019. We appreciate the opportunity to address your concerns.

We regret the lapse in the service you received when you spoke to a representative regarding your PenFed *** account Our Credit Card Department reviewed your situation and approved a $100 credit to your account. Please allow up to three weeks to post to your *** account.

Airline baggage fees are considered incidental fees under the terms and conditions of your ***, which state:

“Airlines must submit the incidental air travel fees separate from airline ticket charges and under the appropriate merchant code, industry code, or required service or product identifier for the charge to be recognized as an incidental air travel fee.”

Please ask the airlines to charge your baggage fees separately in the future to avoid further difficulties.

Thank you for being a member and for choosing to carry a PenFed *** card. We value every opportunity to assist you with your financial needs.

Sincerely,

Chief Administrative Officer

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.

PenFed Credit Union Response • Dec 19, 2019

We received your Revdex.com complaint on December 11, 2019. We appreciate the opportunity to address your concerns.

We are very sorry to hear of your current struggles and reduction of income. Thank you for working with us to honor your PenFed obligations. We apologize your August request to change your due date to the 22nd of the month was not processed. We updated your due date to the 22nd of each month on December 17, 2019

We are committed to helping members who have a financial hardship. To qualify for the PenFed Financial Assistance Program and modified loan terms, applicants must have a qualifying hardship, have exhausted the liquid assets available to them, be unable to maintain their current payments, and have the ability to make payments on the modified terms.

You are the joint borrower on the loan referenced in your complaint. When we processed your Hardship Application, we determined the primary borrower has sufficient income and assets to repay the loan under the original loan terms, and therefore the loan is not eligible for a hardship payment modification.

We deferred three of your loan payments to bring your loan current, with the next payment due December 2019. On December 17, 2019, we also waived three months of late fees and updated your due date to the 22nd of each month per your request. We hope these actions are helpful.

The payment amount due on PenFed Online includes the remaining late fees on your loan along with the normal monthly payment. We encourage you to work with the primary on the account to make payment arrangements. Please contact us at if you have additional questions or concerns.

Sincerely,
Senior Vice President/Chief Credit Officer

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.

PenFed Credit Union Response • Dec 21, 2019

Dear Member,

We appreciate the opportunity to respond to your concerns.

We received the title you mailed to us in November. We placed a rush on the request to document it in our systems, completed it on November 27, 2019.

Thank you for your time in sending the title to us, and we apologize for the inconvenience.

We will be pleased to reimburse you if you incurred costs obtaining a duplicate title. We emailed you on December 13, 2019 email asking for more information. Please follow up with as at [email protected], if we can help you further.

Sincerely,

Vice President, Loss Mitigation

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

PenFed Credit Union Response • Dec 18, 2019

We received your Revdex.com complaint on December 6, 2019. We appreciate the opportunity to address your concerns.

We regret the manner in which pending debit card transactions appear on our online platforms has made determining your account balance difficult. We urge you to always keep a running account balance, subtracting transactions at the time you make them, rather than when they debit your account.

We carefully reviewed the transactions on your checking account from December 2 through December 4, 2019. After making your deposit on December 2nd, there were pending debit card transactions that posted to the checking. In addition to the debit card transactions, you authorized or performed several other types of debits. These transactions would not appear as pending authorizations.

Though you also made some deposits, when your car payment presented on December 4th, it overdrafted your account. This would have been true, even if the pending transactions had not processed during this time.

We’d also like to remind you that you have an automatic payment set for your Personal Loan. As long as the recurring payments process, you do not need to make separate payments to the loan.

We hope this information is helpful.

Sincerely,

Senior Vice President, Operations

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.

PenFed Credit Union Response • Dec 06, 2019

Dear Member,

We received your Revdex.com complaint on November 26, 2019. We appreciate the opportunity to address your concerns.

We sincerely apologize for the delay in your mortgage application, and for the inconvenience this has caused. Management has been made well aware of where the delays occurred and will treat this experience as a lesson for our Mortgage Department on how to better serve our members in the future. We can assure you this is not typical of PenFed operations.

We are pleased to confirm that your refinance has now closed, and the wire of funds was sent to your requested title company.

Your membership with PenFed is appreciated, and we hope to serve you for any future credit needs.

Sincerely,

Vice President, Mortgage Operations

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.

PenFed Credit Union Response • Nov 26, 2019

Dear Member,
We received your Revdex.com complaint on November 19, 2019. We appreciate the opportunity to address your concerns.

We are sorry to hear of the difficulties you have encountered with your PenFed Auto Loan. We reviewed your payment history and determined we did not receive a payment in August 2016. We processed a payment deferral in February 2017 to bring your loan current.

Shortly after, we did not receive your April 2017 payment, and your loan has been one month behind ever since. We appreciate your consistent payments since June 2017, and on November 22, 2019 we processed an additional payment deferral to bring your loan current and extended your maturity date to April 30, 2020. Please be sure to make your November payment so your loan remains current.

You have not been assessed late fees, and we will update your loan with the credit reporting agencies to show no late payments. Please allow up to 90 days for the credit reporting agencies to make the change.

We hope our actions fully resolve this matter for you. Please contact us at if you have additional questions or concerns.

Sincerely,

Senior Vice President/Chief Credit Officer

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.

PenFed Credit Union Response • Nov 27, 2019

We received your Revdex.com complaint on November 15, 2019. We appreciate the opportunity to address your concerns.

We regret your financial position changed creating a situation in which you are unable to make payment to your PenFed auto loan. We understand your desire to redeem the vehicle.

PenFed offers two options for vehicle redemption; pay the entire balance owing including all fees, or pay the past-due amount and fees and reinstate the loan for repayment. To qualify for reinstatement, we must determine you now have the ability to make the monthly payments.

Thank you for submitting our Financial Questionnaire. Unfortunately, based on the stated income and our calculated expenses for you, your two dependents, and the co-signer, we did not find you had sufficient income to reinstate the loan.

We do not consider the sources of your income in our calculations, only the total amount. We apologize if our inquiries into your ability to repay the loan was upsetting, and we assure you, we inquired only in an effort to approve your request.

We provided you with a pay-off letter on November 15th. Please contact our Default Servicing Specialists prior to December 4, 2019 if you would like to make payment.

Sincerely,

Senior Vice President/Chief Credit Risk Officer

Customer Response • Dec 26, 2019

[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: ***

I am rejecting this response because:
I have called Penfed Credit Union on multiple occasions and requested a copy of the financials that were used to reject my reinstatement and have been met with opposition by your rep Sarah C who was never helpful and was advised that your company does not provide proof of said financials which makes absolutely no sense when the numbers you are using were not provided to you by me, and now you are requesting that I speak to a representative at the exact same number in which I have previously called to request proof of the financials your company is using. NO. I will not. I am requesting proof of the financials used to reject my reinstatement. In an open public forum, and I expect to receive them either by mail or in my email box. Both of which your company has.

Regards

PenFed Credit Union Response • Jan 07, 2020

We do not feel it is appropriate to continue to discuss your personal finances on a public forum. Please expect to receive our response by mail.

Sincerely,

Senior Vice President/Chief Credit Risk Officer

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".

PenFed Credit Union Response • Nov 21, 2019

Dear Member,

We received your Revdex.com complaint on November 13, 2019. We appreciate the opportunity to address your concerns.

Thank you for choosing to finance your vehicle with PenFed. We are sorry to hear there was an issue with the loan rate, and that you were unable to resolve it with our phone representatives. Providing accurate information is an essential component of our service goals.

Our Loan Department reviewed your phone calls with our representatives and they have now adjusted the rate on your auto loan to the quoted 1.49%. You should receive a loan amendment with the new rate and monthly payment shortly. The first payment is due on December 30, 2019.

I apologize for the misinformation provided during your application process. We appreciate your membership, and look forward to serving your financial needs in the future.

Enjoy your new vehicle.

Senior Vice President/Chief Credit Risk Officer

Customer Response • Nov 27, 2019

[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, and find that this resolution is satisfactory to me.

Regards

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.

PenFed Credit Union Response • Nov 20, 2019

Dear ***,

We received your Revdex.com complaint on November 12, 2019. We appreciate the opportunity to address your concerns.

Thank you for setting up a payment plan for your Auto Loan. We regret the miscommunication regarding the status of your loan. On November 18, 2019, we emailed you the steps required to reverse the charge off. Please review and reply to that email if you have additional questions or concerns.

We are grateful for your PenFed membership and look forward to assisting you in restoring the good standing of your loan.

Sincerely,

Senior Vice President/Chief Credit Risk Officer

Customer Response • Nov 21, 2019

[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: ***

I am rejecting this response because:

Your response does not address the concern with the charge off being posted. When I called and spoke with representative he should have been transparent on what was happening/going to happen. If account was going to charge off on 10/23/19 then he should have informed me of that. He should have also required that I pay before 10/23/19 to avoid the charge off or explained that it was unavoidable. He set up an auto-draft for 10/25/19 and indicated that arrangement was in place. Also, the charge off indicates no balance on my credit report. It is charged off as paid and closed, so it appears that you sold the loan to a collector. In most cases the balance would still reflect if its charged off in-house. Then for manager to tell me that the original rep should not have set up a payment plan is unprofessional. If you rep made a mistake own it. I believe charge off should be removed and remain off my account at this time as long as the payments continue to be made.

Regards

PenFed Credit Union Response • Dec 13, 2019

Date: Wed, Dec 11, 2019 at 12:09 PMSubject: RE: [EXTERNAL] Re: Revdex.com Complaint ID from ***To: *** <***@myRevdex.com.org>Dear member,

We received your rejection of our response to your Revdex.com complaint on November 27, 2019. We have not sold your account to a collection agency, and we thank you for making your November payment as agreed. As stated in our previous response, we will reverse the charge off of your loan if you meet the requirements presented to you in our November 18, 2019 email. We sent you an additional email on December 3, 2019 with the outstanding requirements and a deadline of December 15, 2019 to comply. Until the requirements are satisfied, we are unable to make changes to the status of your loan or our credit reporting. Please contact us at if you have any questions or concerns about our email.

Sincerely,

Senior Vice President/Chief Credit Risk Officer

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.

PenFed Credit Union Response • Nov 07, 2019

We received your Revdex.com review on October 24, 2019. We appreciate the opportunity to address your concerns.

We regret we did not provide you with the superior service you deserve, which includes maintaining open and consistent lines of communication during your mortgage application process. We realize the pressures that can accompany refinancing a home, and regret the delays added to your concerns.

We are pleased to know your mortgage closed on Friday, October 25th.

Though we wish your experience had been more positive, we appreciate that you brought this matter to our attention. Your feedback was given to management to ensure we address the areas in which we must improve.

We ask that you allow us the opportunity to restore your confidence in our ability to meet your financial needs and treat you as a valued member of PenFed.

Sincerely,

EVP/President, Mortgage Banking

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.

PenFed Credit Union Response • Oct 30, 2019

Dear Member,

We received your Revdex.com complaint on October 21, 2019. We appreciate the opportunity to address your concerns.

Please accept my apology for the contrary information you received. We recognize the responses and assistance our representatives provide directly impacts the decisions our members make; therefore, clarity is critically important. We strive to provide exceptional service in every interaction, and I regret your experiences were not reflective of this commitment.

When you spoke with our Member Service Representatives in August and October this year, they removed your prior account from our payment system. However, a recurring payment was not established with your new account information at that time.

We will adjust the consumer credit reporting by eliminating the 30-day delinquency in September due to your efforts to change your recurring payment. Please allow up to 60 days for the change to appear on your consumer credit report.

Our records indicate you do not have a recurring payment established. We recommend at this time you access your PenFed Online account and establish a recurring transfer to ensure payments continue. You may also email *** for assistance if needed.

I hope our actions fully resolved this issue for you, and thank you for being a valued member of PenFed.

Senior Vice President/Chief Credit Risk Officer

Customer Response • Oct 30, 2019

[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, and find that this resolution is satisfactory to me.

Regards

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.

PenFed Credit Union Response • Oct 11, 2019

Dear ***,

We received your Revdex.com complaint on October 3, 2019. We appreciate the opportunity to address your concerns.

We sincerely apologize for the delay in your mortgage application, and for all the inconvenience this has caused. Management has been made well aware of where the delays occurred and will treat this experience as a lesson for our Mortgage Department on how to better serve our members in the future. We can assure you this is not typical of PenFed operations.

We are pleased to confirm that your mortgage closed October 9th, and the wire of funds was sent to your requested Title company. We also understand management is working with you on your relocation costs.

We hope you enjoy your new home.

Your membership with PenFed is appreciated, and we hope to serve you for any future credit needs.

Sincerely,

Vice President, Mortgage Operations

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

PenFed Credit Union Response • Oct 09, 2019

We received your Revdex.com complaint on October 1, 2019. We appreciate the opportunity to address your concerns.

Thank you for promptly contacting us when you discovered unauthorized activity on your debit card. We immediately took action to close the card to prevent further authorizations, and ordered you a new card. In cases of possible fraud, our goal is to limit inconvenience to our members, and I regret we did not better support you. We should have reviewed the additional pending authorizations, alerted our Card Fraud team, and made good on our offer of expedited shipping for your new debit card.

Though we wish your experience had been more positive, we appreciate that you brought this matter to our attention. Candid feedback such as yours helps us to address areas in which we can improve.

Although it was later than expected, we understand you received your new debit card. Our Member Experience team mailed you a letter, which explains the time-period you had limited access to your Access America Checking Account. Please feel welcome to present this letter to your billers, to avoid any negative repercussions.

We hope you will give us the opportunity to earn back your trust and confidence in PenFed.

Sincerely,

Senior Vice President, Enterprise Fraud Management

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.

PenFed Credit Union Response • Sep 27, 2019

Dear member,

We received your Revdex.com complaint on September 25, 2019. I appreciate the opportunity to address your concerns.

We approved and opened your Auto Loan on August 23, 2019. The loan begins reporting to consumer credit agencies at opening. Reporting is not dependent on signed documents or the loan check clearing.

You requested to cancel the loan on September 11, 2019 and we sent a request to Equifax, Experian, and TransUnion on September 26, 2019 to remove the loan from your consumer credit reports. Please allow up to 60 days for the change to appear on your reports.

Thank you for being a member. I trust our actions fully resolved this issue for you.

Senior Vice President/Chief Credit Risk Officer

Customer Response • Sep 29, 2019

[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: ***

I am rejecting this response because:

- PenFed representatives lied to me, when I inquired about this loan stating that nothing would be official until the check was cashed and loan documents are signed -- and that this was just going to be an inquiry and a credit check.

- Incompetent PenFed reps asked me to to provide them my 3 Credit Bureau Reports (to see what they messed up, as if they have no clue what they are providing to these bureaus), which is not only possible (as they are locked now, as I was not able to answer a verification question about the non-existent auto loan monthly payment that was prematurely and incorrectly reported) but also would cost me more money. So, they were asking me MORE sensitive information to fix the issue that THEY caused.

- I did NOT open an auto loan. Plain and Simple. PenFed reported to Credit Bureaus as if I did. THAT IS FRAUD.

Regards

Customer Response • Oct 23, 2019

[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: ***

I am rejecting this response because:

1) PenFed claims to have listened to all phone calls, which is impossible because not all phone calls originated from my listed number or with the knowledge of Cus.Rep. knowing my member #.

2) PenFed have a hard to comprehending a loan-request/approval is not the same as signed-loan. Just because you got approved for a loan does not mean you have a mortgage now. Just because you got approved for a car loan does not mean you have a auto-loan now. PenFed reports to Credit Bureaus as if I have an $20,000 autoloan and ~$350 monthly payment yet I would have not paid a penny for years ... you know why? Because there was no $350 payment because I did not owe $20,000! Because there was no loan! PenFed REPORTED a loan PREMATURELY .... BEFORE, it was MATERIALIZED and signed. Let me repeat to PenFed who is trying to convince all parties there was a loan and therefore it was reported: NO SIGNATURE, NO DOCUMENT, NO LOAN! It seems like some training is in order for these people who think a proposal is good enough for alimony court filing.

3) Credit Agencies show as "Loan Opened" and I have to wait for 60 days for you to clean your mess? And I already missed a great deal of AT&T Phone because I couldn't predict a non-existent $350 monthly payment for an imaginary auto loan and got locked out of my own credit. Yay for me! That seems super fair! Yep.

4) PenFed had the nerve to tell me "We would only even try to send another report IF AND ONLY IF YOU SENT US ALL OF THE AGENCY CREDITS TO US" which not only requires more money on my end to be spent but also not possible because I got locked out of my own reports due to PenFed's incompetency.

Any other client would have sued PenFed for damages. This is unacceptable.

Regards

PenFed Credit Union Response • Oct 25, 2019

We received your rejection of our prior response on October 23, 2019.

We fully documented the proceedings in our prior responses and took action to resolve the issue on September 26, 2019.

You may present our previous responses as proof we cancelled the loan to anyone concerned.

We now consider this matter closed.

Senior Vice President/Chief Credit Risk Officer

Subsequent to a recent substandard incident involving my experience as a credit card holder for close to 20 years (that was ultimately substantiated by multiple PenFed employees on multiple levels), I initially invested further time and energy appealing to management for concessions that would better help me restore damaged levels of trust and confidence I believed to be both reasonable and consistent with my level of harm. However, aside from eliciting profuse apologies from PenFed employees throughout the chain of command, my request for consideration (to specifically lower my interest rate) was adamantly denied. Although I am learning to appreciate that all requests for redress will not always be honored, appreciated or understood in any given situation, with respect to this particular issue, I am confident that my appeal was timely, relevant and had merit standing on its own accord (that is, separate and apart from the credit card fiasco). As such, as a consequence of this disturbing encounter, I have considered the extent to which my loyalty to a management -vs- leadership driven organization truly appreciates the depth, gravity and presence of its consumer base. I am in the process of withdrawing future business interactions with PenFed and caution others to assess the extent to which this company is truly committed to serving its consumers with care, respect and diligence.

PenFed Credit Union Response • Oct 09, 2019

We received your Revdex.com review on September 30, 2019. We appreciate your thoughtful assessment.

Our fraud prevention measures have allowed us to detect and prevent millions of dollars in fraud losses. These losses are borne by the credit union, and as a member-owned organization, this means a direct loss to our membership. Our goal is to provide our members with account safety and security, while limiting undue embarrassment or inconvenience.

Thank you for taking the time to discuss your experiences in detail with representatives from our Operations and Card Fraud Investigations teams. Member feedback is an excellent learning source and we use it to improve our procedures.

Please be assured, we noted your excellent standing with PenFed. Our rates are established based on product features, lending policies and credit underwriting, and your rate conforms to those policies.

We are committed to restoring your confidence in PenFed should you allow us that opportunity.

Sincerely,

Senior Vice President
Enterprise Fraud Management

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Address: PO Box 1432, Alexandria, Virginia, United States, 22313-1432

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