Pentagon Federal Credit Union

Review: It all started when I saw an advert on [redacted] discussing how "great this card is." I wish I read the reviews of this organization in [redacted], and many other sites. I was naive enough to think they would be a great credit union to join until I was scammed.

I have a credit score well above 750, own a car, never have trouble making any of my payments on all my expenses, and I live in one of the most expensive cities in the country. I jumped on the opportunity when I heard about the lower than 10% APR on PenFed credit cards. What a great way to lower the remaining credit card debt I have (which is less than $3,000). I wasn’t military or any of the other categories, so I agreed to pay the $20 ‘donation’ fee. I assumed there was no way I would get denied, especially since I was PAYING to join.

Big mistake and a waste of perfectly good money. Turns out they denied me very quietly. I received no email, no notice, nothing. I had to call and follow up. The guy on the other end said it was because "...we thought you would have trouble making payments on the loan." 1, I didn't ask for a "loan" and 2, I countered with "Don't you think my high credit score means something about me paying my bills on time?"

Turns out, they can deny you for ANY reason they want, and that's why they charge you a fee in the name of 'charity.' So I asked for my money back and they told me I needed to contact the charity. I contacted the charity and they said "Pen Fed KEEPS the money." So, PenFed is lying about where the money is going. It is NOT going to charity. How is a "credit union" legally above to get away with false advertising in the name of charity? The charity tod me they do NOT receive the money. This qualifies as FRAUD.

$20 might not be a lot of money, but just think of how many others they scam – it adds up! If you read around on [redacted] and [redacted], you will find endless stories of people being scammed by their "promise" card.

The good news is, I'm in the process of starting a lawsuit and would like to turn this into a much larger class action suit if anyone is interested in helping all the people who have been scammed.Desired Settlement: I want my money back or else I'll be taking further legal action.

Business

Response:

[redacted]:

Review: Pen Fed Account Number: xxxx- [redacted]

DOB 6/21/1971

[redacted] Gold Account

[redacted] Account Number: [redacted]

Pentagon Federal Credit Union stopped communicating in June 2013 after many failed attempts to get detailed information, regarding my account, as per my right under the Fair Credit Reporting Act and the Fair Debt Collections Practices Act.

I have asked numerous times, in writing, for copies of last payments ever made with proof. Such as cancelled checks, etc on this alleged [redacted] Gold Credit Card Account. They have never supplied me with this information whatsoever, with proof. Since their first communications through June 2013, I have continued sending certified and registered mailings, with return receipt requested, and to date have all gone unanswered. I have also called and emailed the president and CEO and all customer service could tell me by phone that it has " indeed been received.'

I have detailed and complete personal bank records showing the precise time of February 2007 is when the LAST payment ever was made on this [redacted] Gold Account. I have a written letter from my bank stating that was the last payment to Pentagon ever from my banking accounts yet PenFed has never given me an exact date with proof, as my right under the Fair Credit Reporting Act. This now puts this alleged debt OVER 7 years old and is still showing up on my credit reports. They continue to fail to communicate and are now also in complete violation of Section 616 of the Fair Credit Reporting Act for "Willful and non compliance" and causing Financial Harm.

Additionally, I have asked for [redacted], their outside collection agency that PenFed hired for complete validation of debt, which includes copies of cancelled checks, copies of original applications and copies of original statements, and they have failed. This is my right under the Fair Debt Collection Practices Act and the TEXAS Fair Debt Collection Practices Act. They have in all their mailed letter to me that they are indeed a " Debt Collector". I have also asked them to send me a license and their surety bond that is needed to collect any debt, by phone call or mail to anyone in Texas and to date, they have failed to provide me with this written request. This is a fine of $5,000 per call and per letter mailed to anyone in the State of Texas. To date, I have 13 dated letters from [redacted], which is Pentagon Federal Credit Union's Collection Agency.

Every time I call Pen Fed, they only refer me out to [redacted]. Again, when I call [redacted], I am only allowed to speak to a " [redacted]," who is the most unprofessional and rudest person on earth. I am even more shocked that Pen Fed would hire such a company and person on behalf of them. I have complained, in writing to PenFed about the practices of their collection agency and they have never responded once.

Not only has Penfed violated the Fair Credit Reporting Act but their hired collection agency has many documented continued violations of the Fair Debt Collections Practices Act and separately, the TEXAS Fair Debt Collection Practices Act.

No angle I take or do gets resolved. I initially started this process disputing PenFed to the national credit reporting agencies and they all came back with PenFed confirming all info. This alone is causing PenFed to violate the law and defame me by causing me financial harm by being denied credit and suffering by attaining higher interest rates.

Again, This debt, with proof is now over 7 years old and still reporting on my credit report.

I have absolutely everything documents and recorded. If this does not get resolved amicably by deleting the trade line off all credit reports, my next stop will be filing a Federal Lawsuit and a State lawsuit against Pentagon Federal Credit Union and their hired collection agency, [redacted].Desired Settlement: To completely and forever remove this trade line from any and all credit reporting agencies, including Equifax, TransUnion and Experian. [redacted]

###-###-####

Business

Response:

Complaint # [redacted] - [redacted]

Review: PenFed had notified me that they will begin charging a $1 fee per month in order to receive a paper copy of my itemized credit card bill regardless of the activity on the account. I would like to formally complain about this practice as I did not agree to this charge in the original cardholder contract. I also feel that companies have every right to incentivize customers to sign up for electronic statements but they should not be allowed to charge a fee for customers who do not consent to receive electronic statements.Desired Settlement: I would like to see this hard $1 fee waived indefinitely and to not have this policy for active accounts where customers decline consent to electronic statements.

Business

Response:

Dear **. [redacted],

My expersience is for a refinance on my mortage. This company wasted 2 months of my time and the rates went up in the meantime. every attempt, on my behalf, was made over and over again to get this going. all items requested by PenFed were sent in in a matter of days. I was asked for the same information repeatedly. all PenFed does is cause frustration and waste your time. This company lies and is non-responsive. Yelp has many many negative reviews regarding the same. I am shocked to see that they have a A- rating. please help in warning others of their extreme poor business practices and customer service

Review: I have incurred a $4835.99 deferred interest payment from [redacted] as a result of miscommunication from Pentagon Federal Credit Union. I have communicated with several representatives from member service department and one supervisor and no corrective actions have been made regarding this matter. This matter has been ongoing since August 11, 2014 and interest continues to accrue in my [redacted] account. I will state a synopsis of events below.I called Pentagon Federal Credit Union on August 11, 2014 concerning a transfer of funds to my rewards card to pay off $3,113.00 from [redacted]. I was told that I could transfer the balance to my rewards card and it was eligible to do the transfer. I was told that a new [redacted] card would allow for cleaner accounting process instead of having a balance transferred to the rewards card with a balance on it. I was told that a card would be sent out immediately in the mail and that I could activate it and transfer the funds from [redacted]. My concern throughout this process was to transfer the funds in any manner before the deadline of August 18, 2014 so as not to incur the deferred interest payments. I had not received the card by August 18th so I called back to Pentagon Federal Credit Union to let them know that I had not received the [redacted] card. The representative told me that she could transfer the balance for me and to activate the card when it arrived. I was told that the transfer was sent in on that date (the 18th); and that the 18th would be reflected electronically to [redacted]. I called [redacted] to let them know what I was told by the Pentagon Federal Credit Union representative and to communicate that the funds would be transferred electronically on the date of August 18th. I check the online statement on August 19th and there was no transfer reflected. I called [redacted] to inquire and they agreed that the electronic stamp of August 18th would be valid whenever it arrived. I called Pentagon Federal Credit Union again on the 19th or 20th to get the status of the transfer and was told that the transfer could not take place and that I did not qualify for the [redacted] card. Again, I would have attempted other options and transferred the balance to my rewards card if I was told this transaction would process on August 11, 2014. I now have the deferred interest of $4835.99 with an added interest payment of $164.00 monthly as a result of this terrible incident. Pentagon Federal attempted to send a letter to [redacted] on my behalf to see if they could forgive the interest, but the letter was vague and implied fault and negligence from my actions and none from what truly had happened.Desired Settlement: Resolve my defferred and monthly interest.

Business

Response:

Dear [redacted],

Review: Mortgage Refinance -- I applied and was approved for a mortgage refinance loan back in April 2013. I chose PenFed based on the rate provided to me at the time and I locked in that rate. I promptly provided PenFed with all documentation requested. I would not hear from them for awhile and then they would request some updated information. They would never have to wait more that a day for the information requested and I would usually get it to them the same day they requested it. More time would pass and I would email them for an update on the status. Sometimes they responded sometimes they did not. Whenever they did respond they were apologetic and thanked me for my patience. As my rate lock period began to come to an end, I emailed them and got no response. I then emailed them again cc'ing another name that was on a document that I was sent even though that was not my loan processor. They responded once again apologizing and assuring me that my rate would not increase since the delays were on their end. Again there were long periods where I would not hear from them unless I reached out to them first. Again they apologized and said we should be closing soon. Still there has been no progress and this week my loan was moved to another loan processor and I was told that my rate had expired and I would not be receiving my original rate. I explained my situation to the processor and was told that he spoke to his supervisor who would not clear me to receive the rate I was originally offered. At the new rate he gave me it does not make sense for me to refinance at all. Any and all delays were on Penfed's end and I have the emails to back up this statement. I operated in good faith and was patient with the company taking them at their word and that patience was taken advantage of.Desired Settlement: I would like what I was assured I would receive, the original interest rate that I was offered.

Business

Response:

Dear **. [redacted]:

All those who are considering using the Pentagon Federal Credit Union bill paying service are well advised to buy more checks and mail your payments. Over the last two months about 10% of my payments have gone awry...in each case the payee recognized the fault was of the PFCU payment system and reversed all late and penalty charges. You may not be as lucky. The PFUC system is running at about a 10% failure rate on all electronic payments from my account, often either double paying or not sending the check to the proper address. PFCU particularly has a problem with Chase Mortgages, and Equity Loans. Payer beware!

Review: I have a credit card with the company (account ending in -[redacted]). I had a balance with them for about the last year under a promotional "4.99% for life" promotion, which I was planning on keeping until I paid off the balance. Then a couple months ago, I saw an ad banner under my account for a "0% for 18 months" promotion that was good until 3/31/14. There were very few terms and conditions of the offer, other than "subject to credit approval". However, since I have had the account with them since 2008, and I already had a balance with them (nearly $37,000 with them), this shouldn't have been a problem.

I therefore paid off my entire balance on 3/24 using funds in my checking account (which I was going to use to pay off another credit card, but I much rather preferred to pay off using this promotion so I could have 0% interest for 18 months instead of the current 4.99% rate). On 3/27/14, I tried to initiate a balance transfer under this offer from another credit card, but my request was declined, saying my credit wasn't good enough. I got a letter stating that my credit score was only 622, but that information from [redacted] used to determine this was from 11/26/13. I tried again on 3/31/14, but got the same result and the exact same letter in my online account. I called Customer Service, and was told that my credit score would have to be at least 700 to take advantage of the offer. I explained to them that I knew my credit score was much higher than that, and they were using outdated information, but they did not budge at all. I have printouts from several sources showing my credit score was higher at the time: 1) On 3/30/14 I pulled my credit report and scores from a service I subscribe to, which shows my credit score of 741; 2) statements from another credit card issuer that include official FICO scores every month, showing a 706 score on 3/16/14 and 712 score on 4/16/14; and 3) a letter from PenFed Credit Union after a HELOC application dated 4/18/14 showing a score of 708.

You had a new balance transfer promotion in April, so I tried again and was not successful (same result). However, this time I noticed an "important note" off to the side of the screen where you request the balance transfer, stating "Need some extra cash?" and providing a link. After clicking that link, I was taken to a screen where I could simply put cash from my card into my PenFed savings account. The whole process made it seem like this was an alternate way to get funds from the card under the promotion. I used the funds to pay off my other credit card, so it achieved the same ends.

To my surprise, I just got my statement and see that the funds I took from the card have a 9.99% rate attached to them. I am shocked and outraged, because this feels like a "bait and switch" tactic to me. For some reason, it was determined that I couldn't take advantage of a current promotion (using months old credit data), but I could take out $39,000 at a higher rate no problem. Not to mentioned there is clear evidence that I should have been eligible to take advantage of the promotion in the first place. If I had known it was going to be a circus, I would have simply kept my old balance at the 4.99% for life rate, and would have used the cash in my account to pay off the other card. Now I am stuck in a much worse place, paying 9.99% on this balance instead of what I was expecting would be 0% for 18 months.Desired Settlement: I would like PenFed to honor the promotion they were offering of 0% for 18 months on the current balance on my card, since I clearly qualified based on up-to-date credit information and I tried taking advantage of the offer before the expiration date.

Business

Response:

[redacted],

Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) [redacted] account was received in my office on May 7, 2014. I appreciate having the opportunity to address your concerns.

I am sorry to hear you had difficulty performing a balance transfer to your PenFed [redacted] to take advantage of our promotional rates. As you noted, our disclosures provided with the balance transfer advertisements and at the time of initiating a balance transfer state that credit approval is required to qualify for the promotion.

Each consumer credit reporting agency calculates a credit score using its own proprietary model, which differs from the model used by [redacted] Corporation for the FICO score. The scores generated by the credit bureaus differ in what they are meant to predict, the statistical methods used to determine a creditworthiness score, the data used and how they are weighted. It is not unusual for the scores to differ for the same borrower, not only between the scores each credit bureau provides but also from the FICO score. PenFed does not use either a proprietary model or the FICO. Instead, we use the [redacted] score provided to us by [redacted], as we feel this best fits our lending guidelines.

We obtain periodic credit scores for our members who have line-of-credit accounts. To limit the number of full credit inquiries performed, when determining approval of a promotional balance transfer, we utilize the most recent credit score on file if it is not more than 90 days old. Your balance transfer request in March of 2014 was declined based on the periodic credit score obtained in December 2013, which was below our minimum requirement to obtain the promotional rate. At your request, a full credit report was pulled on March 27, 2014. This score was higher than the January score but still did not meet our requirements for the promotion.

When you again attempted a balance transfer in April, prior to submitting a home equity loan application, your March credit score was used and the transfer request was again denied. A new credit report pulled on April 18, 2014 for your equity application showed your score had risen above our minimum requirements to qualify for the credit card balance transfer promotion. As you did not qualify for the 0% promotion based on your credit score during that promotional period, I am not able to provide that rate. However, as your April credit score does qualify, I approved converting the cash advances totaling $39,100 performed from April 4, 2014 to April 12, 2014 to our current balance transfer promotion of 4.99% APR for 48 months. This change was completed on May 14, 2014 and will be reflected on your next statement.

I regret any confusion created by the link in the PenFed Online banking system to perform a standard cash advance from your credit card. It was not our intent to mislead you and we have re-evaluated this link based on your experience and are in process of removing it. I would like to thank you for bringing this to my attention. Your feedback is appreciated and was used to implement a change that will benefit the entire membership.

I regret this experience has caused you to question PenFed’s integrity. I hope the information I provided and our actions alleviate these concerns. Your trust in our ability to meet your financial needs and treat you as a valued member is of the utmost importance to us.

Sincerely,

James *. S[redacted]

President/CEO

Pentagon Federal Credit Union

Consumer

Response:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

Review: 10036200

I am rejecting this response because:

Review: I opened an auto loan account from PenFed in March 2013. Since then, I've provided proof of insurance on the vehicle half a dozen times but the company that PenFed has outsourced insurance compliance to keeps sending me letters claiming I have not provided this information. Now they have force-placed insurance on my vehicle and charged me over $6000 for the premium which was added to my loan without my consent. I have called both PenFed and the insurance provider over a dozen times to no avail. Fed up with the lack of resolution of this issue, I decided to just pay off the loan in full. However, even this did not make the problem go away as PenFed still considers the loan account open and wants me to pay off the $6000 insurance premium for a loan that is paid off!Desired Settlement: Please reverse the insurance premium for the force placed policy and close my account since it is paid off.

Business

Response:

Dear **. [redacted],

Review: I had a refi with penfed. After closing and many calls they are now requiring me to get additional insurance that was not required during closing

Lender:

Pentagon Federal Credit Union

[redacted], VA [redacted]

Unfortunately I do not have most of the communication between my lender as most were done via Phone as they are unwilling to put much in writing.

What is being disputed now is the amount of H06 flood insurance is needed.

I live in a condo and my HOA has flood insurance.

During underwriting back in June of 2014, I was told to get supplemental flood insurance. I renewed my original policy and submitted proof to the lender and they reviewed and and approved my loan.

Since, my HOA increased coverage to 100% of replacement cost.

My lender refuses to let me cancel my HOA policy as they are stating that it doesn't cover Flood walls in and needs me to get more.

Attached are the policies I purchased.

They are essentially pulling switcheroo. Approving my loan then requiring me to get additional insurance that was not required as part of the loan. This would increase my costs significantly each year and do not feel should be penalized due to this.

I have worked with multiple reps:

Penfed Lead James V[redacted] ###-###-#### Extn: [redacted] Insurance Admin Side Jennifer 6[redacted]

Insurance Admin Kerry ###-###-####Desired Settlement: Not enforce the flood [redacted] insurance at 90k

Business

Response:

Pentagon Federal Executive Correspondence

Sep 30

to me

Please find below our response to [redacted]’s Revdex.com complaint number [redacted]. This response will be mailed to him shortly.

Thank you.

Sooz W[redacted]

Executive Correspondence Officer

Pentagon Federal Credit Union

[redacted]

RE: Flood Insurance

Dear [redacted],

Your complaint filed with the Revdex.com (Revdex.com) regarding your Pentagon Federal Credit Union (PenFed) mortgage account was received in my office on September 3, 2014. I appreciate having the opportunity to address your concerns and apologize for the delay in my response.

We received your request for a letter confirming you no longer need H06 flood insurance for your condo on August 18, 2014. In response we contacted your insurance agent to confirm the nature of the master condo flood insurance policy held by your condo association. Based on a review of this document and your loan, it initially appeared you needed to increase your H06 flood policy coverage to $90,000.

After our review, we reached out to your insurance agent to explore additional options for your flood insurance. Based on information provided by your agent and information determined by our internal research, we found your current amount of coverage is sufficient. The required amount of flood coverage is $177,465, the insurable value of your unit. The master condo policy carries walls-in coverage in the amount of $141,972. With your current coverage of $36,000, your unit is sufficiently insured. You do not need to increase your coverage amount but you may not decrease it, either.

I regret that this experience left you with an unfavorable impression of the credit union. Our intent is to comply with Federal Flood Regulation requirements and ensure that your home has adequate insurance should a flood disaster occur. I regret the coverage amount was in question for some time and hope this resolution meets with your satisfaction. Should your master condo policy be adjusted in the future, we are happy to revisit the matter of your required coverage with you.

Sincerely,

Wayne *. J[redacted]

Vice President, Mortgage Servicing

Email transmitted across the Internet is normally not protected and may be intercepted and viewed by others. Therefore, you should refrain from sending any confidential or private information via unsecured email to PenFed. We will not ask you to send confidential information to us via email, such as your logon ID, password, account numbers, or Social Security number. We prohibit our employees from sending confidential information to you via email that is not encrypted. The recommended document submission method is FAX; a partial list of generic fax numbers can be found here.

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Pentagon Federal Executive Correspondence

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Review: The company ran an advertisement for low car loan rates for refinancing. In order to apply for the refinancing though, they require you to open an account with a minimum $5. I did so. They did not accept the refinance loan request. I asked at least four times by email to have the $5 refunded and the account closed. They continue to refuse to do so saying its not secure.Desired Settlement: $5 refunded and account closed.

Business

Response:

Dear [redacted],

Review: I applied for a loan with Penfed on 4/18 and had a 60 day rate lock. On 5/8, I communicated that I would be changing employers and was told by the representative this would not be an issue. On the business day prior to my scheduled closing, I was told that it was going to be an issue that I changed exployers. As the closing was scheduled on the rate expiration date and did not, I was told that my rate would no longer be honored. I had previously spoken with a different representative several weeks earlier who indicated that if the loan did not close due to delays on the side of Penfed, my rate lock would be extended. I provided details that demonstrated the lack of performance of the representative assigned to my loan which caused delays of over 30 days.Desired Settlement: I would like Penfed to honor the rate that was promised to me both at the loan application as well as by the representative. I would still like this to move forward with the terms that were agreed to initially.

Business

Response:

Dear **. [redacted],

Review: An individual, who is named in the police report, stole my identity and opened various accounts in my name. He lived with my family and I and had access to a plethora of sensitive and personal documents. Among those accounts he fraudulently opened, Pentagon Federal was one of them. He contacted them and attempted to open various lines of credit and other such accounts. He successfully opened a checking account without anyone knowing. Further it appears he overdrew the account. Pentagon Federal also ran my credit to aid in this criminal action. They have since handed over this illegal debt (FCRA Violation) to [redacted] and have reported it to all three credit agencies. After an exhaustive and time consuming ordeal I was able to clear most of the fraud out of my name. I filed a police report and it is an open case. Despite all of this Pentagon Federal continue to harass me via [redacted] to collect on $473.00 on an illegally opened account. I have sent copies of the police report both to Pentagon and [redacted] without any response. For a Credit Union that prides itself on exemplary service to the community they are instead violating the very principle for which they stand by.Desired Settlement: I ask that they and [redacted] remove the account from all three credit reporting agencies immediately AND provide me proof they have done so. I ask hat they invoke my rights pursuant to the Fair and Accurate Credit Transactions Act amendments to the FCRA that govern identity theft and issues such as this. Finally I ask that they remove the debt from there own internal systems so that this illegal reporting never "happens" again. These demands are simply what the law states nothing more.

Business

Response:

Dear **. [redacted],

Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) account was received in my office on July 30, 2013. I appreciate having the opportunity to address your concerns.

I regret you have been the victim of identity theft. We recognize resolving identity theft is particularly stressful and I am sorry you have been unable to resolve the accounts opened with PenFed thus far.

Membership with PenFed in the name of [redacted] was established in October 2011. Part of PenFed’s account opening procedure involves reviewing a credit report for identity verification purposes per the USA Patriot Act. As your credit report was frozen, a four-digit PIN was required to access the file and provided to PenFed on November 7, 2011.

On November 14, 2011, a $1,500 mailed deposit was received and placed in a Money Market Savings Account; this deposit was returned for “not sufficient funds” on November 25, 2011, overdrawing the account. PenFed has yet to receive any notice of fraud or forgery regarding the membership or deposit in question. As such, the remaining overdrawn balance of $474.84 was charged off through PenFed’s normal charge-off procedures leading to [redacted]’s ([redacted]) involvement in the collection of the overdrawn account balance.

Although you mentioned filing a police report, neither [redacted] nor PenFed have received a copy. Additionally, an affidavit of forgery must to be filed with either [redacted] or PenFed to further research the fraud on the account. Additional information for victims of fraud is available on PenFed’s website at https://www.penfed.org/Actions-for-Fraud-Victims/.

Please complete and return the attached Identity Theft Victim’s Complaint and Affidavit by fax to ###-###-#### or email to [email protected] attention [redacted] or by mail to:

Pentagon Federal Credit Union

Attn: [redacted]

We look forward to bringing this matter to resolution.

Sincerely,

President/CEO

Pentagon Federal Credit Union

Consumer

Response:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

Review: [redacted]

I am rejecting this response because:

I provided the report to both [redacted] and was told it would be referred to penfed. I have the Certified return receipt showing it was received. This is a form of revictimization and sophistry ! I will send yet another report and pay additional deed fees ! Regards,

Business

Response:

89 of 108 consumer complaint #[redacted]InboxxPentagon Federal Executive Correspondence

<[redacted]>Sep 26 (11 days ago)

[redacted],

Below is our response for **. [redacted]’s rejection of our first response. I appreciate the opportunity to have our response placed on the website.

Thanks[redacted]Coordinator Executive CorrespondencePentagon Federal Credit Union

**. [redacted]:

I regret that my prior response did not resolve the matter of the PenFed account balance turned over to [redacted]). We again asked [redacted] to search their records for the police report you mailed; however, they were unable to locate any record of receiving it. For your reference, their addresses are: Mail Address: [redacted]Physical Address: [redacted] Avenue, [redacted] You may provide a copy of the report to [redacted] at one of the above addresses or by fax to ###-###-####. You are also welcome to send it to **. [redacted] as indicated in my prior response.

I apologize for the inconvenience caused by the need to provide another copy of the report. Sincerely, [redacted]President/CEOPentagon Federal Credit Union

Consumer

Response:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

Review: [redacted]

I am rejecting this response because:

I have sent the identity theft packet back to PenFed and supplied the SAPD law enforcement packet to the address they requested and to [redacted]. PenFed has yet to respond to the request as to who's name was on the check that "deposited" the account? Secondly I still would like to become a penfed member as I have heard wonderful things about this bank. Moving forward though, the Credit Union needs to address these lingering and important questions. Under FACTA I have a right to demand the information regarding the deposited check and the opening of the money market account.

Regards,

Business

Response:

Dear **. [redacted],

Like you, we would like to bring this matter to a satisfactory resolution. Unfortunately, we are unable to take any action at this time without a copy of the police report and the completed identity theft documents. We have reviewed PenFed’s records and asked [redacted]) to again review their records. As of October 9, 2013, neither PenFed nor [redacted] has received a copy of the police report or the identity theft documents. [redacted] Corporation is a different entity from Nationwide Recovery that you reference in your correspondence. [redacted]’s addresses are as follows:

Mail Address:

[redacted]

Physical Address:

As previously stated, you may provide the documentation to [redacted] at one of the above addresses or by fax to ###-###-####.

Alternatively, you are welcome to provide the documentation to

**. [redacted] via email to [email protected], via fax to ###-###-#### or via mail to:

Pentagon Federal Credit Union

Attn: [redacted]

A copy of the November 14, 2011 deposit of $1,500 was mailed to your address provided with your correspondence on October 9, 2013. If you wish to open an account with PenFed and you fall within our field of membership, you may complete the membership application online atwww.PenFed.org. A credit report from a consumer reporting agency would be obtained. In accordance with PenFed policy, if the report indicates adverse credit history, we must restrict or deny some services. Regardless, until this matter has been resolved, your membership would be limited to a Regular Share account. We want to be able to offer all available services to you, but can only do so once this matter has been resolved.

Sincerely,

President/CEO

Pentagon Federal Credit Union

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. I have been quite busy with other personal situations, my son did inform me that **. [redacted] had called and attempted to contact me. I did send the Police Report, [redacted] to Penfed and [redacted] yesterday. I received the copy of the forged check, but I do want to make one thing clear. Where was the money sent that these checks were written on? No check, certified or otherwise ever came to my home. I am cautiously optimistic that once you receive the law enforcement report, the letter from LexisNexis, and my attorney along with the Forgery/Fraud Det. [redacted] at the [redacted] POlice Department this matter will be resolved. I sincerely thank the Revdex.com, and Penfed for being patient and understanding, in fact extending me membership.

Regards,

Review: In March, 2013, my credit card number was stolen and a fraudulent charge was placed for $118.00. I filed an affadavit and coordinated with Pentagon Federal's third-party fraud handlers. The charge was taken off in April. In June, the amount was placed back on my account and I was liable for it. I coordinated again with the third-party fraud investigators and filed another affadavit. The third-party said again I was not responsible for the charge and instructed Penfed to remove the charge. I coordinated with PFCU and was told September 24 that the charge would be removed. As of November 07 it was not and is accruing interest.Desired Settlement: Remove the fraudulent charge from my credit card account and not hold me liable for the criminal charge.

Business

Response:

Dear [redacted],

Review: I applied for a used auto loan through PenFed on 10/1 for the amount of 11,700 at 60 months. In order to even apply with said lender, I had to donate $20 to a foundation that i've never heard of because I was not former military. I then had to put $5 into an account with them to even start applying for a loan. I had to enter my personal information as well as the information of the vehicle which was at 101245 miles on the odometer. Shortly after the application I was approved for the aforementioned term and monetary amount and was excited to purchase the vehicle. I went for final inspection of the vehicle and found that it needed a timing belt service done and that the cost of that would have to be rolled into the cost of the vehicle. I called PenFed and requested the application be amended to an amount of 14,000 USD. They said no problem and I was almost instantly approved for that. There was no mention of the term at that point. I was told all I needed to do was to have the dealer fax a copy of the purchase order to PenFed and then the check would be sent out. I was given the option to have it sent overnight for a fee of $15. I agreed because I am in need of a new vehicle and anything to make the process faster would be fantastic. I was told by [redacted], the person whom which I was dealing with at the time, that after that info was received, the check would be made out and sent to me overnight and we would be good to go. She recommended that I call later in the day to confirm receipt of the fax. Upon calling back, I was suddenly informed that the 60 month term was no longer applicable and that it would have to be a 24 month term because suddenly the 101245 miles was unacceptable which essentially makes the vehicle completely unaffordable. I was shocked because I had previously entered the information of the vehicle in question and was NEVER told that this would be the outcome. The biggest problem I have with this entire deal is that not only did they take my money before telling me any of this... but this type of event goes on my credit and looks bad against me because they were backhanded and shady about telling me the practices by which they operate. This is ridiculous.Desired Settlement: I would like every single dime I spent with them returned to me as well as a correction to my credit report for them being sneaky and not up front with me about the terms of the loan in question.

Business

Response:

Dear **. [redacted]:

Review: I had a home equity loan with Penfed credit union. I called them in July 2011 and informed them I was going to pay off the loan in full and asked for the amount. I paid them that exact amount of money. I was applying for a mortgage loan today (through Penfed, ironically) and my credit report came up as saying I owed them $143.00. I called them to ask about this , and the told me it was a "closing fee". This is the very first time I had ever heard about this and was not told of this when I paid off my loan. I also asked the date the charge incurred, and they told me Jan 2013- a year and a half after I paid off my loan. I told them I wanted this charge off of my record, and they told me I had to pay- and they charged me $184.50 to do so. I paid them with an automatic check over the phone.Desired Settlement: I would like this charge expunged from my credit history.

Business

Response:

Dear [redacted],

Review: I went through a real PAINFUL process while getting a mortgage loan through PenFed. I applied for PenFed 5/5 ARM product and locked the rates on Dec 9th, 2013 for a 90 day period. The closing date was given as March 4th.

PenFed loan officers Never attend the phone calls, Never guide through the loan process, Never give any information on what is required, Never reply to emails quick. From Day 1, I had to do lots of follow ups on the loan process since I do not get any status updates from them. Whenever I am able to reach out to them, they say, they have got ample time and they can close the loan on time. As days went, they ordered the appraisal at the very last moment. Also they did not review all my documents which were sent very initially. Only towards the very end they started to verify documents and they wanted a lots of more set of documents. We have to give the same set of information again and again since they will not track whatever information that we have shared. They will repeatedly ask for same set of questions and documents and drag the process. There was a change in loan officer in mid of loan process. The new officer asked me again the same set of documents and questions whatever I had previously given.

Totally Unprofessional and rude customer service. They deliberately delayed the appraisal process. The made me postpone the closing date everyday from March 4th. My rate expires on March 9th. They purposefully made the loan process delay beyond that date and made me re-lock new rates. I had to pay $2400 additional cost as origination fee. They put pressure on me to make that payment. I was literally cornered and compelled to do what they asked me to do. Finally they closed my home on March 10th.

I lost money, time and also my health in this entire process. They gave me severe stress and NO peace. Definitely action needs to be taken against them. The same incident has just happened to my other friends also. The loan officer: [redacted]. Other officer: [redacted]. They made me sign a document that PenFed has given me around $2400 as closing cost credit in the HUD. That was finally proved wrong. They just gave me around $1900. They gave no time to review the HUD and sign the title process. There is NO level of escalation and you cannot talk to their supervisor. They are extremely rude and no one can ask them why?Desired Settlement: I would need the refund of the origination charges that I was charged due to their late processing time and also their poor service. Also, I was only credited around $1900 in the HUD. I would need the full closing cost credit for which they made me to sign. The document that they made me to sign said that I have received around $2400 as credit. They did not even explain me the HUD on what all credits they gave me. We figured out that the credits in the HUD was wrong only later. I would need a refund check of around $2500 from PenFed. Also, they would need to answer for the stress and health issues I encountered because of them in this loan process.

Business

Response:

Dear **. [redacted],

Review: The issue I have with pen is with there Car Buying Program where if you buy a car through them than you'll get 0.99 % interest loan for 4 years.

I bought the car through there program I got and option lease throgh the dealer at 2.90 % to give me enough time to finance it through my Pen Fed but when it came down to Pen Fed aproving the loan, they were only able to finance 60% of may total financing, so now it looks like I'll be stuck with two car loans.

I called them so we can get this resloved, they first told me to write a letter of re-submittal and then they they later told me to re-apply. The second application was denied.Desired Settlement: I would like them to honor the terms on at least 90% of the total cost.

Business

Response:

Dear **. [redacted],

Review: On September 3rd, I sent the below email to [email protected]:

"I am writing to complain of the new 1 dollar paper statement fee. You are

basically charging customers to send them a credit card bill which I do not

believe is the industry standard. I understand that you offer an electronic

billing option but it is not fair for us that travel and manage our accounts via

standard mailed bill payment options when we return home. It is too large a

risk that your email bill will be sent to my spam and I will never get it, I am

sure I am not alone. It should be an assumed cost of business to send out a

paper bill to your customers. Just like I dont deduct a stamp cost off the

payment when I mail it back to you. Or send you a bill for my time for me to

type this email

It is unacceptable to charge this fee, please refund this fee and discontinue

its application to prevent further action, such as, formal complaints to RevDex.com.

[redacted], VA "Desired Settlement: I did not receive a response to the above email, I want a response and refund of the 1$.

Since this email was sent I have received another 1$ fee assessed to my account, I want this fee addressed as well

Business

Response:

Dear **. [redacted]:

Review: Pen Fed [redacted] Card agreement states I receive 20,000 bonus point after a credit card charge of $2500 or more for the first three months of use.

I have fulfilled this requirement but after making several phone calls and one written correspondence, I have failed to get any answers.Desired Settlement: Award me 20,000 bonus points and additional points for discourteous behavior - not returning phone calls nor any written acknowledgement of the problem

Business

Response:

Dear [redacted],