Pentagon Federal Credit Union

Pentagon Federal Executive Correspondence Sep to me [redacted] 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, 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 Hflood insurance for your condo on August 18, In response we contacted your insurance agent to confirm the nature of the master condo flood insurance policy held by your condo associationBased on a review of this document and your loan, it initially appeared you needed to increase your Hflood policy coverage to $90, After our review, we reached out to your insurance agent to explore additional options for your flood insuranceBased on information provided by your agent and information determined by our internal research, we found your current amount of coverage is sufficientThe required amount of flood coverage is $177,465, the insurable value of your unit The master condo policy carries walcoverage in the amount of $141,With your current coverage of $36,000, your unit is sufficiently insuredYou 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 unionOur intent is to comply with Federal Flood Regulation requirements and ensure that your home has adequate insurance should a flood disaster occurI regret the coverage amount was in question for some time and hope this resolution meets with your satisfactionShould 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 othersTherefore, you should refrain from sending any confidential or private information via unsecured email to PenFedWe will not ask you to send confidential information to us via email, such as your logon ID, password, account numbers, or Social Security numberWe prohibit our employees from sending confidential information to you via email that is not encryptedThe recommended document submission method is FAX; a partial list of generic fax numbers can be found here Click here to Reply or Forward GB (12%) of GB used Manage © [redacted] - Terms of Service - Privacy Policy - Program Policies Powered by Last account activity: hour ago Details Pentagon Federal Executive Correspondence Add to circles Show details

Dear ***, Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) [redacted] account was received in my office on March 22, I appreciate having the opportunity to address your concerns I regret that when you recently contacted PenFed to inquire about the charged-off [redacted] account, the representative provided inaccurate informationWhen a loan account reaches a charged-off status, it is assigned to a collection agency to pursue payment; however, we maintain the account recordsFurther research could have been conducted to provide you with the records you requested Per your request, a signed copy of the credit card authorization form dated October 10, was mailed on March 28, We also enclosed copies of four of your credit card statements showing the final balance and the last cardholder-initiated activity This account was used and repaid on a consistent basis from the time of opening until August of when regular payments ceased and a final payment was received in October of There was regular contact with you throughout the active period of your account including the processing of Servicemembers Civil Relief Act rate reductions during your deployment in and On September 28, and November 19, our records show you spoke with a Delinquency Control Counselor regarding your financial situation and expressed your refusal to make payments on the [redacted] due to our closure of the accountRepayment suggestions were discussed at that time, but you were unable to make arrangementsLack of payment resulted in the account reaching the charged-off status Based on the account history, we continue to conclude that this is your debt and your obligation to repayWhen your account was charged off, [redacted] was assigned the task of collecting that debt from youPenFed still owns the debt, but as the account is being serviced by [redacted] , it is appropriate for you to direct your questions and concerns regarding this account to them at ###-###-#### We confirmed that your account is being correctly reported to the credit reporting agencies as a charged-off account with a balance of $17,According to the Fair Credit Reporting Act, the negative reporting could continue to report for seven years from the date of first delinquency and the account could continue to appear on your credit report for seven years from the date of last activity As a result, PenFed is unable to assist you in your attempt to have your account information removed from your credit reports at this time Sincerely, [redacted] President/CEO

[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: Can you ensure that my home address and other personally identifiable information does not appear on the internet? Regards, [redacted]

Dear [redacted] , We received your Revdex.com complaint regarding your Pentagon Federal Credit Union (PenFed) [redacted] account on October 29, I appreciate having the opportunity to address your concerns The circumstances surrounding your request to transfer your balance with [redacted] to your PenFed [redacted] account were carefully reviewedBalance transfers are a multi-step process involving different channelsIt can often take multiple business days to finalize the process before the transfer is received by the other financial institution We found you first contacted us on August 11, to initiate the process in hopes of having the funds received by [redacted] no later than August 18, At that time, you held a PenFed Platinum Rewards [redacted] Signature accountTo take advantage of our promotional offer to transfer a balance without a balance transfer fee, you opted to open a new [redacted] account Prior to being able to process transactions on a new credit card account, the account must be activated, which cannot be accomplished until the cards are received by the cardholderThe process of opening an account, generating the cards and shipping them can take up to two weeksThis increases the time necessary to complete a balance transferYour account was not activated until August 24, Therefore, we were unable to complete your request by the August 18th deadline Additionally, our balance transfer promotions are subject to credit review, and, unfortunately, when we attempted the balance transfer on August 26th, you did not the meet criteria to take advantage of our August promotionYou were informed of this in an August 26, emailed notification It is apparent we were not clear in our communications with you about the balance transfer process and timelineFor this, I sincerely apologize to youIn an attempt to resolve this issue, we offered to grant the August balance transfer promotion for the full balance of your [redacted] accountThis promotion included a 4.99% APR for months and no balance transfer feeAdditionally, we will reimburse you for the $finance charge accrual on your [redacted] accountTo date, we have not heard if you would like to accept our offer Please contact MrCody S [redacted] with your decision at your earliest convenienceHe can be reached by calling ###-###-#### and asking to be transferred to his extensionWe look forward to coming to an equitable resolution I hope the service you have received over your many years of membership helps to overshadow this unfortunate eventWe appreciate every opportunity to assist you with your financial needs Sincerely, Christopher *M***, SrVice President, Operations Pentagon Federal Credit Union

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

'Leelawadee','sans-serif Dear [redacted] , Your complaint filed with the Revdex.com regarding your application for a Pentagon Federal Credit Union (PenFed) mortgage was received in my office on January 2, I appreciate having the opportunity to address your concerns Our application questions are designed to determine if there is a product we can offer on the property being used as collateralTo this end, one of the questions specifically asks for the number of units associated with the residenceThe drop-down box provided for the response allows for single family home, condominium, or two unit You selected two unit PenFed does not lend for properties containing more than two units, so three unit is not provided as an optionWhile comments placed at the end of the application may be helpful during later processing stages, they are not taken into account by the automated application system Based on your selection of a two-unit property, your application moved forward and you indicated your intent to proceed with the application Prior to submitting your application, the fees which may be charged if an application is submitted but does not move to closing were disclosed to youBy agreeing to continue with the application and submitting it for review, you consented to having your credit card account charged for these costs After confirming with you that your home has three units, your application was declined on December 11, due to the type of collateral not meeting PenFed guidelinesYour credit card account was charged $for the application and $for the credit report, fees we had already paid on your behalf I hope the information I provided addresses your concerns regarding the fees associated with your applicationI regret we were not able to assist you with the refinancing of your home Sincerely, Craig *O [redacted] Senior Vice President, Mortgage Operations Pentagon Federal Credit Union

Advise for anyone thinking of using PenFed for a mortgage FIND ANOTHER LENDER!!! PenFed is unprofessional and do not care about the timing of closing on a home We were never informed of additional documents needed unless we emailed the Loan Officer, than it was we need this and we need thatWe had to postpone the original closing due to last minute requests which we should have been told about weeks prior Once everything was done on our end, they knew we needed closing documents days prior to closing and yet it took them days to put together our closing documents(which only left days prior to closing), which were done incorrectly When it was brought to their attention they basically said if you want it fixed you can't close on the date that is now planned We will end up losing about $2,in closing costs due to their negligence They had all the documentation stating what the seller was paying yet they totally ignored it Not to mention the address and seller name was incorrect from the very beginning, which we informed them of and it was still wrong on the closing documents For a company that is supposed to be so professional their work looks like it was done by a bunch of people that have never done this before SERIOUSLY PEOPLE DON'T USE THIS CREDIT UNION FOR YOUR MORTGAGE We used them because someone suggested them to us but it has been nothing but stress and aggravation We will be looking to refinance the mortgage as soon as possible just so we don't have to deal with them

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed Administratively Resolved] Complaint: [redacted] I am rejecting this response because: The seller portion of taxes is still due from Seller no matter whatThe title company or closing attorney should chase the seller who owes taxes to the buyer Regards, [redacted]

Dear [redacted] , Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) used auto loan account was received in my office on September 18, I appreciate having the opportunity to address your concerns Our records indicate you applied for a $used auto loan on April 22, The loan was approved and a loan check was mailed to you on April 25, PenFed faces greater financial risk and expense should a borrower default on a loan if the title for the collateral has not been received and PenFed is not recorded as the lien holderTherefore, on June 24, 2014, a letter was mailed to you requesting that you provide to us a title for your vehicle, either lien-free or with our lien already listed On June 30, 2014, you contacted us and informed us you wished to cancel your loanA stop payment was placed on your loan check on July 1, and the loan was cancelled on July 4, Due to our oversight, the company that handles our title tracking was not informed that your loan was cancelled and two additional letters requesting the title were generated on July 23, and August 22, I apologize for any confusion this caused you Per your request, a letter was mailed to you on September 23, confirming this loan was cancelledI hope this resolves any concerns you may have about this issue Sincerely, James *K [redacted] Senior Vice President

Dear [redacted] , Thank you for contacting me regarding your recent mortgage application with PenFed Credit UnionThis is in response to both your letter to me, and to your complaint filed with the Revdex.comI appreciate having the opportunity to address your concerns Please accept my apology for the difficulty you encountered in communicating with your Processor about your March 29, mortgage applicationFrequent, timely contact during mortgage processing is vital to the completion of your requestI am sorry this was not the case in your situation, and I can understand your dissatisfactionI can assure you this is not representative of the service and efficiency we wish to provide our membersPlease accept my apology for both the quality and for the frequency of our contact The Manager of Mortgage Resolutions attempted to reach you on February 2, in the hopes of discussing the issues surrounding your applicationAlthough she was unable to reach you, she mailed a copy of the April 24th appraisal to your address of recordPlease accept this documentation as evidence of services ordered, and feel free to return her call with any additional concerns After careful consideration, management agreed to waive the fees associated with the applicationOn February 11, a credit of $was issued to your credit card issuerI hope this refund is just the first step in restoring your confidence in us I am grateful for your interest in our real estate products, and value your membership with PenFedI am sorry your membership has had an inauspicious start, and hope we will gain your trust and grow to become your preferred financial institution Sincerely, President/CEO

Dear [redacted] , Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) Thrifty Credit Service (TCS) account was received on November 19, I appreciate having the opportunity to address your concerns Your TCS account was opened in and review of the repayment history of the loan found there were numerous instances of late payments, some of which exceeded daysThere were also several instances of payments to the account being rejectedA review of the information we submitted to the consumer credit reporting agencies for this account found these late payments are accurate We did not find documents on file supporting your claim of incorrect reportingIf you have documentation specifying the exact dates you believe are reporting incorrectly, we would be pleased to review itYou may provide this information by fax to ###-###-#### Attn: Credit Bureau CorrectionsIf you have a recent copy of your credit report, please also provide itThis will prevent the need to pull a new report I hope this information is helpful for you in coming to resolution on this matter Sincerely, James *K [redacted] Senior Vice President, Operations Pentagon Federal Credit Union

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed Administratively Resolved] Complaint: [redacted] I am rejecting this response because: Revdex.com, I reject Pentagon Federals resolution since it is not what was originally agreedAdditionally Pen Fed acknowledges in this Feb 4th response that their Jan response was incorrect (they would indeed consider the loan if I showed my rental income on my forthcoming tax return) This further shows a lack of communication amongst their organizations departments and within their departments(Evident when I read back to Mr J [redacted] on the phone his own (Jan 15) letter he sent you, and he later acknowledged it was wrong(this despite his most senior staff now working the issue) Furthermore, The delay of this loan has cost me thousands in extra interest, something Pen Fed has not offered any solutions to remedy But I am working to complete these taxes so that they have a record of my rental income (most of which is reported by the local county government to the federal govt via 1099) This is not an easy process as it requires a lot of meticulous get all the expenses, depreciation, and related details for filing Depending on the outcome of that review and subsequent terms of the final loan, I may offer to reopen this case and consider a lesser classification of its closure, but for now, I reject the response and ask that it be closed as not resolved, nor do not believe that a classification of “company made a reasonable effort ”Is appropriate is this situation Respectfully, [redacted] Regards, [redacted]

Dear [redacted] ***, Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) mortgage application was received in my office on May 7, I appreciate having the opportunity to address your concerns I understand your frustration and disappointment regarding the decision made on your application Lending decisions are generally a compilation of several factors When indicating why a loan was not approved, if a credit report was pulled and there is information on the report which was considered in the decision, we include the componentsBankruptcy was listed as a reason but there were other reasons for the denial of the loan as listed in the letterNo one factor decided the loanI regret our letter was not clearer on these reasons and caused you to question our integrityAs a result of your complaint, your application was reevaluated and our decision remains unchanged At the time of application submission, you were provided with and agreed to the disclosures including one titled “My Responsibility for Third Party Costs.” This disclosure authorized PenFed to charge your credit card for any third party costs associated with your application in the event the loan does not closeTherefore, I cannot approve a refund of the $application fee and the $credit report fee connected with your application I am sorry you do not have a positive view of your experience with PenFed and have opted to close your membershipI wish you the best in your future banking experiences Sincerely, [redacted] President/CEO Pentagon Federal Credit Union

Dear [redacted] *** Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) credit card account was received in our office on September 23, We appreciate having the opportunity to address your concernsHowever, given the information provided on your complaint we are unable to locate your account in our recordsPlease provide us with the following information: - Your ex-husband’s name as it appeared on the credit card account - Your name as it appeared on the credit card account - Any addresses, email addresses, or phone numbers associated with the credit card account We look forward to assisting you in this matter Thank you, Barbara W [redacted] Coordinator Executive Correspondence

I tried refinancing with these guysMy credit score is excellent and was preapprovedFrom the start had communication issues with the processor and ended up getting a replacementThey had an appraisal done which came back undervaluing my property so that they could try charging me extra pointsI canceled the refinance with them and ended up paying the appraisal fee and they charged me for title work that the title company told me they neither billed or got paid for! I am now going thru consumer directMy appraisal they had done was 50k higher than P [redacted] Beware

Dear Ms [redacted] , Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) checking account was received in my office on February 2, I appreciate having the opportunity to address your concerns The recent activity on your checking account was carefully reviewedIt was found there were four [redacted] debits between January 5, and January 15, At the time of each debit your checking account was in a negative statusThe debits were returned unpaid and your checking account charged a $returned ACH fee for nonsufficient fundsThe [redacted] debits did not create the negative account balance As you were informed during your January 20, phone call regarding the overdrawn checking account, your request to have the fees refunded was deniedAlso as a result of your phone call, your account was forwarded for reviewA fax received from you on that date included information from [redacted] that stated, “the customer unintentionally used their bank account instead of their credit card to fund an instant [redacted] payment ” As [redacted] indicated that all four transactions were authorized, a dispute claim was not initiatedAdditionally, based on the management of your checking account over the past months, it was closedA letter regarding the closure was mailed to you on February 3, I apologize for the delayed delivery of this notice Your direct deposit normally credited to your checking account was posted to your PenFed share (savings) account on January 28, Further consideration of the checking account closure was conducted, and based on your long PenFed membership it was reopenedAdditionally, $of the fees assessed due to the account overdraft were refunded I hope this information and our actions are helpful for you Sincerely, Christopher [redacted] M [redacted] Pentagon Federal Credit Union

Dear [redacted] , Your complaint filed with the RevDex.com regarding the closure of your Pentagon Federal Credit Union (PenFed) share account was received in my office on January 6, 2014. I regret you felt compelled to close your PenFed [redacted] account and membership. We carefully reviewed the closure and found your telephone request on December 15, 2014 to close both accounts was acted upon immediately. On that same date, check number [redacted] for the balance in your share (savings) account ($113.26) was mailed to you. Unfortunately, the check was mailed to the address on your PenFed profile in Oroville, CA, rather than the Pinion Hills address you requested during your call. As a result of your telephone contact with us on January 6, 2015 in which you indicated you had not received the December 15th check, a stop payment was placed on that check. The stop payment was confirmed on January 8, 2015 and the funds placed back in your share account. A second check (number [redacted] , $113.26) was issued on January 9, 2015 and mailed to PO Box [redacted] Pinion Hills, CA [redacted] . As a result of your phone calls on January 15 and 16, 2015 stating you had not received the second check either, a stop payment was again placed, your account credited and a third check issued. Check [redacted] was sent by certified mail to the Pinion Hills address on January 16, 2015, tracking number [redacted] . The amount of this check was increased to $163.26 to compensate you for your time involved with this matter. I apologize for the oversight with the mailing address for your share withdrawal check and hope the reissuance by certified mail to the Pinion Hills address resolves this matter. It is my understanding you feel PenFed engaged in bait-and-switch tactics when the decision was made to assess an annual fee to these accounts. Your original cardholder agreement includes the following: Change in Terms. You agree that the terms of this Agreement are applicable to any cardholder. You also agree that we can change the terms of this Agreement at any time by adding, deleting, or modifying any provision of the Agreement. In August of 2013, it was decided an annual fee would be assessed beginning in 2014 on all [redacted] Platinum Cash Rewards accounts if the primary account owner does not have another PenFed qualifying product. Notification of the new fee was sent to all affected cardholders in August and September of 2013. Information was also provided on how to qualify to have the fee waived. I assure you PenFed does not engage in bait-and-switch tactics and sufficient notification of this change was provided. I noted your annual fee was refunded in 2014. I regret you do not have a positive view of your experience with PenFed and wish you the best in your future banking experiences. Sincerely, James *. K [redacted] Sr. Vice President, Operations Pentagon Federal Credit Union

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed Administratively Resolved]
Complaint: ***
I am rejecting this response because: First of all, it amazed me that no one was willing to take the situation serious or provide answers until I filed a complaint with the Revdex.comThat's not how I'm willing to do businessIt has been week since my title was "supposedly" sent out via regular mail from IdahoI certainly don't see how upon all the mistakes made it was not at least demanded to be sent overnightI still have no way to track my title and no idea when it will arriveIt is not likely that it should take over a week to be mailed from Idaho to CaliforniaAt this point I have a buyer that now cannot do a thing with the car and I may be forced to accept the car backI have already bought an additional car after the sale and may in return have to be out thousands of dollars because of your companies mistake; which you are not going to compensate me forAt this point it is still not resolved and I am still left waiting with no resolution on my end.
Regards,
*** ***

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed Administratively Resolved]
Complaint: ***
I am rejecting this response because:
The business has not offered resolution but has requested additional information from meI am using this forum since it is the only one available on your website.I would appreciate it if you could forward the additional info to Pentagon Federal Credit UnionATTN: Barbara W***My ex-husband's full name was *** *** ***His last address was: *** *** *** *** *** MD ***My name as it appeared on the credit card account was *** ***Our address used to be: *** *** ***, MD ***
Regards,
*** ***

Dear *** ***,
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Your complaint filed with the Revdex.com regarding your PenFed Credit Union Platinum Rewards *** Signature account was received in my office on September 14, I appreciate having the opportunity to address your concerns
I am pleased you chose to apply for the PenFed Platinum Rewards *** Signature, one of our leading credit card products, where you earn five points on gas purchases paid at the pump, three points on supermarket purchases, and one point on all other purchasesWe have not offered bonus points for new accounts on this product this yearHowever, we have had an ongoing promotional bonus point offer on the PenFed Premium Travel Rewards *** *** CardThe travel rewards card offers five points on airfare purchased, one point on all other purchases, and 20,bonus points when you spend $2,within the first three months of opening the account
If your intent was to apply for the PenFed Premium Travel Rewards *** *** account instead, we would be pleased to close your *** and open an *** *** account and provide the 20,bonus points on the new accountThe switch will also convert your current points to the equivalent that would have been earned with the travel rewards programThis would adjust your current points from 14,to 14,on the *** *** accountIf you are interested in accepting our offer, please contact a Member Service Representative at ###-###-####This line is answered Monday through Friday from 7:AM to 11:PM Eastern Time, Saturday from 8:AM to 11:PM Eastern Time, and Sunday from 9:AM to 5:PM Eastern Time
To your second point, we experienced a system outage that temporarily prevented rewards points from appearing on some cardholders’ accountsA fix was implemented and, as of September 10, 2015, you should have been able to see all points earned to date on your account
I understand the inconvenience and concern caused due to this issue and apologize that you were impactedI assure you we are evaluating every step of these processes to prevent such an occurrence in the future
I hope this clarification is helpfulI am certain we will earn your trust and grow to become your preferred financial institutionThank you for choosing PenFed as your new financial institution and for carrying our Platinum Rewards *** Signature credit card in your wallet
Sincerely,
Senior Vice President, Card Services
PenFed Credit Union