Pentagon Federal Credit Union

Dear *** **,
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Your complaint filed with the Revdex.com regarding your recent PenFed Credit Union mortgage loan transaction was received in my office on September 2, I appreciate having the opportunity to address your concerns
Although mortgage loans can be complex and detailed, I was displeased to hear of your experience with the processing and closing of your recent refinance loanIt is my expectation mortgage processing and closing be efficient, time sensitive, and accuratePlease accept my apology for any undue requests for documents or delays you experiencedYour circumstances were shared with all levels of mortgage management so improvements can be made for the future
I carefully reviewed the PenFed mortgage documents showing the details of your 5/adjustable rate mortgage (ARM) refinance in December Based on a promotion we offered at that time, we paid specific closing costs on your behalfThe promotion details included, if the mortgage was paid in full prior to the 36-month anniversary date, a prorated portion of those closing costs credits would be recovered from you
At the December loan closing, PenFed provided you with a closing cost credit of $4,With the closing documents, you signed an addendum to your mortgage loan confirming you would pay back a prorated amount of those credits, should the loan be paid in full prior to the 36-month anniversary
When you closed your new loan on July 23, 2015, a $2,promotional closing cost credit balance remained and was included in your mortgage loan pay-off amount
Your closing documents state you understand the obligation of re-payment of this prorated credit balance if the loan is paid in full and closed prior to the month anniversary date of the loan. Unfortunately, we did not find justification to refund the amount you agreed to pay
I hope this explanation clarifies this issueI appreciate you choosing PenFed Credit Union for your real estate financing
Sincerely,
Cindy G***
Senior Vice President, Mortgage Originations

Dear Mr***,
">
Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) equity application was received in my office on December 24, I appreciate having the opportunity to address your concerns
Please accept our sincerest apology for the poor service you received during the processing of your equity applicationsWe strive to provide our members with the superior service they deserveThis includes ensuring we accurately convey the status of applications and respond to our members in a timely mannerWe appreciate the anxieties that come with financing real estate and regret our processing of your application did not help to alleviate themPlease be assured we do not take your concerns lightly and have shared the details of your complaint with our managerial team
On October 20, 2014, you submitted an application for a $90,equity loan through PenFed Online, our internet banking serviceOur system automatically denied this application the same day due to past or present delinquencies and a high utilization rateOn October 21, 2014, a new application was built per your request for reconsideration
On October 22, 2014, your processor contacted you and requested, among other things, a list of the debts you intended to pay off with your equity loanThis document was received on December 1, Your file was forwarded to senior management for review on December 3, Unfortunately, we found that if the proceeds of your loan were used to pay off the list of debts you provided to us, your debt-to-income ratio would remain outside of our guidelinesA supervisor review of the application determined no counter offer was possible
On December 30, 2014, an application for a $90,equity line of credit was built per your requestWe were unable to verify a portion of your stated income due to a lack of tax returns for the last three yearsHowever, even if that income was taken into consideration, we again found it was not possible to bring your debt-to-income ratio within our guidelinesThe application was turned down on December 31,
We appreciate every opportunity to assist you with your financial needs and I regret we were unable to approve your applicationsI hope it is understood that, as a financial institution, we must protect the assets of our entire membership by ensuring we make financially sound lending decisionsOur lending guidelines were established in line with federal regulations and with the intent of ensuring the continued financial security of the credit unionI appreciate that you are interested in developing a relationship with PenFed and I hope you are able to take advantage of our range of products in the future
Sincerely,
David PJ***
Vice President
Pentagon Federal Credit Union

*** ***,
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I appreciate learning the details of your Pentagon Federal Credit Union (PenFed) mortgage application experience through your Revdex.com correspondenceI am sorry to hear of the lack of communication and understanding that occurred with your application
We received your application for a cash-out, 5/adjustable rate mortgage for your primary residence on February 5, After receiving your income documents, your file was reviewed and the debt-to-income ratio calculatedAt that time, it was determined this ratio exceeded our lending guidelinesTherefore, the application was declined for excessive obligations in relation to income and the fees for the third-party services performed during processing were charged to your credit card.
Your correspondence prompted us to again review your applicationWe found that your rental debt was computed incorrectly, which inflated our calculation of your liabilitiesI sincerely apologize for our oversight and that we were not responsive to your inquiries at the time of your applicationWe should have proceeded with your application and suggested solutions that would have met both your needs and our lending requirements
As you requested, I am refunding $in third-party service fees associated with your applicationThis amount will be refunded to the credit card account provided with your application
I apologize your loan was not reviewed more comprehensively and discussed with you further. Your trust in our ability to assist you with your financial needs is very important to usI hope this will be the first step in re-establishing a positive relationship with you
Sincerely
Craig *O***
Senior Vice President, Mortgage Operations
Pentagon Federal Credit Union

Dear *** ***,
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Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) auto loan account was received in my office on December 28, I appreciate having the opportunity to address your concerns
Thank you for choosing to finance your June vehicle purchase with PenFedWe received the title associated with your new auto loan on July 10, 2015; however, it did not list PenFed as lienholderAn application for lien placement was promptly sent to you on July 13,
PenFed faces greater financial risk and expense should a borrower default on a loan if the title for the collateral securing the loan has not been received and PenFed is not recorded as the lien holderTherefore, we initiated a policy that allows us to compensate for this risk factor and increased repossession expenses by imposing a higher interest rate on these loansWe allow at least days for a member or dealership to provide the title with the correct lien holderWe feel this is sufficient time for the local government agencies to process the necessary paperworkReminder letters to provide us with the title were sent to you on three more occasions
While your loan was initially disbursed with a 0.99% APR, on November 17, the rate was increased to 14% due to non-receipt of a perfected titleThe promissory note you signed states in part:
I agree to apply for and provide you with a Certificate of Title or any other document constituting proof of ownership of the collateral and your interest in itI further agree to furnish you with such information and execute and deliver such documents and take any and all action necessary and appropriate to establish, perfect and maintain your valid and prior security interest and lien in the collateralIF I FAIL TO TAKE THE ACTIONS I HAVE AGREED TO IN THIS SECTION WITHIN DAYS OF THE DATE OF THE LOAN, I SHALL BE IN DEFAULT AND IN ADDITION TO THE REMEDIES OTHERWISE AVAILABLE TO YOU, I AGREE THAT YOU MAY, AT YOUR OPTION, INCREASE THE ANNUAL PERCENTAGE RATE I PAY ON THE LOAN TO THE HIGHEST RATE THEN IN EFFECT ON YOUR CLOSED END UNSECURED LOANS
I understand we received the needed lien-placement application on December 2, PenFed then worked directly with the New Jersey Department of Motor Vehicles to obtain the title for your vehicleThe perfected title was received on December 24, 2015, and the rate on your auto loan was restored to 0.99% APR, effective to November 17, The reversal of the interest rate ensures you were charged interest at the 0.99% rate between November 17th and December 24thA letter confirming this action was sent to your address of record the following business day
I hope my response provides clarity on our position, and addresses your concerns on this matter
Sincerely,
James *K***
Senior Vice President, Operations

[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:
Information giving by PFCU Still Innacurate, misleading,The Dates and information giving does Not Match, Simple The Account in question have to be deleted, due to Fraud and Identity Theft. Can Not compare a Car loan Account which I Iused too have with a Un-existing account, that was open and use by someone else. Simple to understand due to Fraud and Identy Theft, Account have to be deleted
Regards,
*** ***

Dear *** ***,
">
Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) Platinum Cash Rewards account was received in my office on December 30, I appreciate having the opportunity to address your concerns
I regret any misunderstanding there may have been about the fees and finance charges assessed on your PenFed Platinum Cash Rewards account and that the experience has left you with an unfavorable impression of the credit unionWe strive to provide our members with the superior service they deserve and this includes ensuring members clearly understand the reasoning behind actions taken on their accountsI apologize that our previous responses on this matter have not resolved this issue for you
Your PenFed *** Platinum Cash Rewards account was opened on September 2, There was no late fee assessed to this accountIncluded with this response is a copy of your April statement showing an amount due of $and a due date of May 23, On May 27, 2014, a payment was received in the amount of $Because the full statement balance was not paid by the due date, an $finance charge was assessed
In the event the statement balance is not paid in full by the due date, finance charges are assessed on the accountAs stated in a response to a complaint you submitted to the Consumer Financial Protection Bureau:
“Credit card finance charges for purchases are calculated based on the Average Daily Balance (ADB) of all purchasesA purchase appearing on the periodic statement is considered part of the outstanding balance from the date of postingThe ADB is the sum of all outstanding purchases (determined by including new purchases and deducting payments or credits and excluding unpaid finance charges) for the account on each day of the billing cycle, divided by the number of days in the billing cycleThe amount of the finance charge is calculated by multiplying the purchases ADB by the monthly periodic rate.”
The calculation for finance charges considers only the sum of all outstanding purchases and does not include any amount of previously assessed, unpaid finance charges
Your May statement had a statement balance of $As your account cycled on the 26th of each month, this amount included the unpaid balance from your April statementAfter your May 27, payment, an additional $remained dueOn June 23, 2014, a payment was received in the amount of $Because the full statement balance was not paid by the due date, a $finance charge was assessed
Your June statement had a statement balance of On July 21, 2014, a payment was received in the amount of $Because the full statement balance was not paid by the due date, a $finance charge was assessed
Between April and July of 2014, a total of $was assessed in finance charges on your PenFed *** Cash Rewards accountOn August 14, 2014, the $finance charge assessed in May was refunded to your *** Cash Rewards accountOn January 7, 2015, the remaining $was credited to your regular share account
I hope you find this response a satisfactory resolution for your concerns
Sincerely,
Scott *Y***
Vice President, Card Services
Pentagon Federal Credit Union

Pentagon Federal Executive Correspondence
Aug
tome
Hello ***,
Though the Revdex.com closed this case, we did respond to *** ***’s rejection by mailBelow is a copy of the content of our response for your files
Attached is the payment history that was enclosed with our letter to *** ***
Please feel free to contact me if you have any questions
hank you,
Barbara W***
Coordinator Executive Correspondence
Pentagon Federal Credit Union
###-###-#### Ext ***
*** ***,
I regret my response to your Revdex.com (Revdex.com) complaint did not provide the resolution you desired
The 30-day late payment to your PenFed auto loan relates to the June 1, due date onlyThe prior repayment of your PenFed *** Gold is not a factorAdditionally, PenFed’s closure of that *** account was based on your credit standing at that timeWe previously addressed this issue in our response to your Revdex.com complaint in July of
I am providing the repayment history to the auto loan since November of As you can see, your payments were consistently past due but not more than days until June of Due to your June 30, payment being returned for non-sufficient funds, you were days late making your payment due by June 1,
In your email correspondence with PenFed, it was suggested that you request a change to your due date to better accommodate your new payroll scheduleWe do not require members to complete a form to request this change, a phone call or email is sufficientOn November 23, 2013, you rejected the offer to change the due dateOn April 24, the due date change was again suggested and you were instructed to call to make the changeWe have no record of your phone callMost recently on April 30, we again asked if you would like to change your due date, to which there was no reply
To put your loan in a better position and prevent further late payments and fees, we processed a payment deferral for the month of July This brought your loan to a current status I informed you of the payment deferral in my August 15, response to your Revdex.com complaint
As I noted in my prior correspondence, should the financial institution that returned the
June 30, payment provide documentation confirming the return was their error, we will be pleased to re-evaluate the reporting of this paymentYou may send this documentation to:
Pentagon Federal Credit Union
Attn: Executive Correspondence
PO Box
Springfield, OR 97475-
Sincerely,James RS***
President/CEO

Dear *** ***,
0in 0in 0pt" class="MsoNormal">
Your complaint filed with the Revdex.com regarding PenFed Credit Union’s estate account services was received in my office on August 10, I appreciate having the opportunity to address your concerns
Please accept my condolences for the loss of your husbandI would like to further express my apologies for the difficulties you encountered with the consolidation of *** ***’s PenFed loans and accountsIt is certainly not our intent to make this experience unnecessarily complexWe appreciate the stresses that accompany the passing of a family member, and I regret the processing of *** ***’s loans and accounts did not help to alleviate them
I am sorry we did not reallocate the extra payments made to your auto loan to your credit card account as you had intendedUnfortunately, this request was not conveyed to the appropriate party for completionThank you for making the $5,payment to the auto loan on July 20, 2015, thus paying it off
Your *** Platinum Cash Rewards (MOAA) account was not reported as delinquent to the consumer credit reporting agencies, and the April finance charge in the amount of $was refunded on August 19, We appreciate your effort in maintaining payment arrangementsI hope this is just the first step in restoring your confidence in PenFed
Your experience was shared with management and addressed with those employees involvedThough it is disappointing to receive feedback such as yours, it is this type of assessment that points out areas in need of improvement*** *** was a valued member and we wish to reflect this in the level of service that comes with our estate processes
I regret this experience left you with an unfavorable impression of the credit unionYour trust in our ability to meet your financial needs and provide you with the best member service is of the utmost importance to us
Sincerely,
Christopher ** M***
Senior Vice President, Operations

complaint #***
Inbox
x
Revdex.com of Metro Washington DC
Nov (day ago)
to me
---------- Forwarded message ----------
From: *** ***>
Date: Mon, Nov 10, at 1:PM
Subject: Re: You have a new message from the Revdex.com of Metro Washington DC & Eastern Pennsylvania in regards to your complaint #***
To: "[email protected]"
Thank you so much
"The Lord bless you and keep you; the Lord
make his face shine upon you and be gracious
to you; the Lord turn his face toward you and
give you peace." -Numbers 6:24-
Blessings,
*** ***
Sent from my ***
On Nov 10, 2014, at 9:AM, [email protected] wrote:

Dear *** ***,
">
Your complaint filed with the Revdex.com regarding the closure your Pentagon Federal Credit Union (PenFed) credit accounts was received in my office on December 3, I appreciate having the opportunity to discuss this matter with you
On November 10, 2014, you submitted applications for a Personal Line of Credit and a PenFed Platinum *** Signature credit cardAn email was sent to you the same day requesting your two most recent paystubs and your W2s, which you promptly providedThe PenFed Platinum *** Signature application was approved on November 12, and the Personal Line of Credit application was approved on November 13,
However, upon further review of the documents, we found discrepancies between identity information you provided to us and the information appearing on your income documentsUnfortunately, we have been unable to verify the authenticity of your income documents against information provided to us by the Social Security AdministrationAs these documents were the basis upon which your Personal Line of Credit and PenFed *** Platinum Signature applications were approved, both accounts were closed on December 15, Adverse action letters were mailed to you the same day
In compliance with the federal Equal Credit Opportunity Act, PenFed takes seriously its responsibility to promote the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract); to the fact that all or part of the applicant's income derives from a public assistance program; or to the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection ActThe final action and decision on your accounts were based solely on the inability to verify the authenticity of the income documentation provided to usI regret you feel discrimination may have been a factor in our decision to close your credit accounts
Sincerely,
Fred R***
Senior Vice President
Chief Credit Risk Officer

Dear *** ***,
Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) used auto loan was received in my office on April 15, I appreciate having the opportunity to address your concerns
First and foremost, allow me to express my sincerest apology that an error occurred with the release of your title for your vehicle financed with PenFedThis is not reflective of the level of service we wish to provide our members, and I can appreciate your frustration
Our Collateral Control Department confirmed the title for your used auto loan was sent to the Idaho Department of Motor Vehicles as a result of an internal error in processingWhen we were alerted to the situation on April 14, 2015, we immediately requested the return of the title from the Idaho DMV, and verified the title was mailed to us as of April 14, I see your used auto loan was paid in full on April 15, We will expedite shipping at no cost to you when the title is received
Our Assistant Manager of Loan Servicing contacted you and MrNixon on April 15, We hope the information he provided was beneficial. Please feel free to use the contact information he provided if you have any additional questions or concerns
Let me assure you that at no point was your confidential information in jeopardyA vehicle title is a public record; therefore, it lists only the name and address of the registered owners of the vehicle
We regret that at the time of your initial call on April 14, 2015, we were unable to provide a time frame for resolutionWe did not yet have the status information from the Idaho DMV
I hope the actions we have taken result in the full resolution of this issueI regret this experience left you with an unfavorable impression of the credit unionI 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,
James *K***
Senior Vice President, Operations
Pentagon Federal Credit Union

Dear *** ***,
">
Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) fixed-rate equity loan application was received in my office on September 23, I appreciate having the opportunity to address your concerns
Please accept our sincerest apology for the extended amount of time it took to process your equity loan applicationWe strive to provide our members with the superior service they deserve, and this includes timely processing of real estate loan applicationsWe appreciate the anxieties that come with financing real estate and regret our processing of your application did not help to alleviate themPlease be assured we do not take your concerns lightly and have shared your complaint with our managerial team
We received your application for a $200,000, 15-year, fixed-rate, home equity loan on April 21, and our initial review took place on April 24, When your application was submitted, you indicated the purpose of the loan was debt consolidationOn May 16, we requested additional documents, which were received by June 5,
We requested an appraisal for your property on June 17, 2014, with your authorizationBecause your loan purpose was listed as debt consolidation, there was no indication at that time that your debt-to-income ratio would prevent your application from moving forwardThe appraisal for your property took place on July 1, We received the completed appraisal and forwarded a copy of it to you on July 8, and again on September 12,
Further documentation concerning your liabilities was requested after our underwriting department reviewed your application again on July 9, You provided that documentation promptly and the file was reviewed again on July 28, At that time your debt-to-income ratio was determined to be 55%, which is outside our lending guidelinesHowever, as the purpose for the funds was listed as debt consolidation, we expected this would reduce your debt-to-income ratio to within our guidelines and the process was continued
We learned on August 5, that you instead intended to use the loan proceeds for home improvements and to pay off an auto loanOn August 21, 2014, you indicated you did not intend to use any of the proceeds of the loan for debt consolidationGiven this information, it became clear your debt-to-income ratio must be reduced to qualify for your requested product and loan amount, or a counter offer generated
It was determined we could offer you a $50,equity line of credit at 3.75% APR; however you declined this offerAlthough you produced evidence on August 28, that you reduced some of your debt load, your debt-to-income ratio remained outside our lending guidelinesYour application was again reviewed by a supervisor and a manager before being declined on September 10,
We received your second application for a $200,000, 15-year, fixed-rate, home equity loan on September 12, This application was reviewed by a supervisor on September 25, using the appraisal from your previous applicationYour debt-to-income ratio was again determined to be outside our lending guidelines and a counter offer for a $75,equity line of credit at 3.75% APR was issued to you
On September 29, 2014, in your conversation with MsVickie S***, Resolution Coordinator, you indicated you understood we could not approve your application as submitted and you declined the counter offerMsS*** provided you with her contact information and will gladly address any further concerns you may have about this matterBased on your decision not to accept the counter offer, we were not able to approve your request for an equity loan
I regret we were unable to finance your home at terms you found amenableGiven the extended processing time with your application, we are refunding the appraisal fee associated with this applicationI hope this will help to alleviate some of your dissatisfaction
We value every opportunity to assist you with your financial needs and appreciate your membership with PenFedI apologize for any inconvenience this situation may have caused.
Sincerely,
David *J***
Vice President, Second Trust Operations
Pentagon Federal Credit Union

Dear *** ***,
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Your complaint filed with the Revdex.com regarding your PenFed Credit Union used auto loan was received in my office on May 29, I appreciate having the opportunity to address your concerns
Your used auto loan was established August 5, 2013, with an original financed amount of $17,
The promissory note for this loan states verification of insurance must be provided for the financed vehicleIn the section titled, “Property Insurance and Taxes,” the promissory states in part:
Unless I provide you with evidence of insurance coverage required by my promissory note/ security agreement with you, you may purchase limited comprehensive and collision insurance at my expense to protect your collateral
In signing the promissory note loan you agreed to provide verification of insurance coveragePenFed did not receive insurance verification, so Collateral Protection Insurance (CPI) in the amount of $2,was added on August 21, for a lapse in insurance coverage between April 23, through April 23, Verification of coverage was received on August 29, 2014, with coverage beginning on August 20, PenFed issued a partial refund of $1,on September 2, effective to August 20,
PenFed received notice of a second lapse in insurance, and as such CPI was added to the loan effective January 5, through January 5, During your call to us on May 26, regarding your loan, it was explained if you were to pay the loan in full, you would receive a refund of the $1,premium
Immediate action was taken to initiate the refund from the insurance carriers, and on June 2, a refund of $1,was credited to your regular share account for the CPI premium of $1,and $for accrued interest. As a courtesy, we also credited your regular share account with an additional $on June 9, to refund the remaining CPI premium for the time period between April 23, through April 23, You have now been refunded for all charges to your used auto loan for CPI coverage
Your $11,and your $2,payments posted to your auto loan on May 26, 2015, thus concluding your obligation for repaymentI found no basis for refunding any portion of the finance charges assessed to your used auto loan
I regret this experience left you with an unfavorable impression of the credit unionWe value every opportunity to assist you with your financial needs
Sincerely,
James *K***
Senior Vice President, Operations

[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:
Basically, since the process is complete, there is no way to fix the problem Therefore, closing the complaint is ok
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 are responding to your complaints to the Revdex.com dated June 17, and June 25, We looked into the information you provided
PenFed strictly safeguards our members’ personal and private informationAs such, we are unable to respond to you regarding our findings in this matter.
Sincerely,
Cindy G***
Senior Vice President, Mortgage Originations

[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:
In the counter offer letter from Penfed dated 9/25/2014, here's what Penfed offered me:
ELOC NOT TO EXCEED $75,AT 3.75% APRTHIS IS A VARIABLE RATE THAT WILL CHANGE QUARTERLY BASED ON THE PRIME RATE PLUS 0%THE MONTHLY PAYMENT WILL BE EITHER 1.5% OF THE OUTSTANDING BALANCE OR MINIMUM $100.00, WHICHEVER IS GREATER1.5% of 75K is equal to $100K equity loan at 3.99% and months has a monthly payment of $Therefore, Penfed's explanation that the fixed rate product has a higher monthly payment does not make any sense I strongly suspect that Penfed's is trying to push a worse product to customer for a higher profit after making customers wait for a long time, classic bait and switch tactic!
I am only interested in the fixed rate 3.99% APR product that I originally applied and got approved for If Penfed wants to make me an offer, please just give me the max loan amount under 3.99% fixed APR of months
Regards,
*** ***

Revdex.com:We have reviewed the response made by PenFed in reference to complaint ID ***, we accept that PenFed is reprocessing our loan application with the clarification providedBut we also have a related issue, see attachment:
we were informed by credit reporting agencies that each PenFed and *** each ran our credit reports twice (on Feb 7, and Feb 8, 2016) for the loan application when we only authorized inquiryIt was confirmed by PenFed that their "system froze" and thus they accidentally ran our credit twiceWe hereby request that PenFed submit requests to remove the additional inquiry from both PenFed and *** on each of credit reports (for *** *** and for *** ***), so that it doesn't negatively impact our scores, and doesnt impact other lenders who are reviewing our credit reports for a loan application, and that PenFed provide us a copy of each letter in case any follow up needed during our credit report monitoring every months
Regards,
*** ***

See Attachment
FW: You have a new message from the Revdex.com of Metro Washington DC & Eastern Pennsylvania complaint #***.Inboxx Pentagon Federal Executive CorrespondenceApr (days ago)** ** *** This is very overdue, but our
issue with *** *** was finally resolvedBelow is the response provided separately to *** ***. Dear *** ***: Your complaint filed with the Consumer Financial Protection Bureau (CFPB) was forwarded to Pentagon Federal Credit Union (PenFed) on February 2, 2015. As you are aware, on October 7, 2014, PenFed issued a loan check in the amount of $60,for the Mercedes B E350, VIN WDDKK5KF7EFThis check was paid and we received a signed promissory noteA copy of a Michigan title for this vehicle with PenFed listed as the lien holder was also receivedPenFed did not initiate this lien placement. You contacted us on January 19, and advised the loan check issued on October 7, was used to purchase different collateralEfforts to settle the account with our member began immediately after you notified us that the *** * *** had been financed through a different financial institution. We were able to finalize a resolution of the matter with our member and, as a result, agreed to release our lien on the vehicleA copy of PenFed’s Release of Lien was forwarded to you with the original to follow. I regret the frustration this situation caused and hope you find this to be a satisfactory resolution. Sincerely, Senior Vice President/Chief Credit OfficerPentagon Federal Credit Union
Thank you, Barbara W***Manager, Executive Correspondence** *** * ** ***
*** *** *** *** *** ** ***
***
***
*** *** *** *** *** *** *** ** *** *** *** *** *** *** *** *** ** *** *** ** *** ** ** *** ** *** *** *** *** *** ** *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** ** *** *** *** *** *** *** *** *** *** ** *** *** *** ** *** *** ** ** *** *** *** *** *** *** ** *** *** *** ** *** ***

[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 information provided in the response is simply not correct According to ***'s response, PENFED made every effort to contact me and make me aware of this balance of $ If that were the case, why didn't I receive an email at ***?
As he had stated in his rebuttal this email was listed as a secondary email on my account and was typically not used for these types of notifications
Why then *** does PENFED request a secondary email address when a member is asked to sign up on the website?
A reasonable person would assume that if you're going to make a statement that "Multiple attempts to contact you were made by phone, mail and email" that you would have indeed made every attempt to contact that individual, including sending an email to all available email address Had you done that, this would have been resolved because *** is a valid email address on my account
When I found out about this via a fraud alert received on my phone Feb I called PENFED immediately PENFED employees agreed with me that it was not right to report this as derogatory information for fees added after I paid off the balance and they lead me to believe that this would be reversed Even told me that I should call back in a month to ensure that it was retracted They even refunded the $late fee One employee (***) and the other (***) lead me to believe that it would be taken care of
In summary:
I was not notified that a balance of $was added to the account after I paid off the entire balance on DEC in the amount of $
I would have paid the interest fees of $had I known about it A reasonable person would assume that if one can afford to pay off the account in full that they could certainly afford to pay any additional fees in the amount of $had they been made aware of it. I did not receive any emails notifying me that additional fees had been added to the account If you can show me those emails I would like to see themI never receive paper statements I couldn't tell you the last time I received a paper statement from PENFED A letter was received on March 2, after I called PENFED and settled the balance on FEB But that was after they posted derogatory information
I've been a member for almost years now and still a member As a disabled veteran myself I appreciate the PENFED Foundation and all they do for my fellow veterans PENFED has been very reasonable in the past and a very good business to deal with I'm just asking PENFED to act in goodwill and request this derogatory information be removed from my credit report This type of action was not necessary for $ I was not deliberately trying to avoid paying $ Please, be understanding and reasonable as you always have been and remove the derogatory information from all three credit reporting agencies.
Regards
*** ***

Dear *** ***,
0pt" class="MsoNormal">
Your complaint filed with the Revdex.com regarding your PenFed Credit Union membership was received in my office on August 24, I appreciate having the opportunity to address your concerns
Prior to establishing a PenFed membership, opening a new account, and at the time of application for new services, we obtain a credit report from a consumer credit reporting agencyAuthorization to pull the report is obtained from the applicant during the account application process
With a new membership, the credit report is used as a means of identity verification and to determine the PenFed products and services for which the applicant qualifiesOur records indicate you initiated an online membership application on January 26, and consented to the credit report inquiryHowever, you did not finalize the application on that date, and the membership was not opened
On February 9, your membership was opened during your conversation with a PenFed Member Service RepresentativeConsent for a credit inquiry was again obtainedAs the credit report is used for identity verification, due to a difference in the address used with your online application and that provided to our representative, a new credit report was pulled
On February 9th we were not able to approve your request for a checking accountIn a telephone conversation with you on February 16, 2015, you consented to the pulling of a new credit report for reconsideration of your checking account applicationUnfortunately, we were not able to approve the account at that time
As a result of your application for a checking account on August 22, 2015, another credit report was obtainedI am pleased to see the account was approved and opened on that date, along with a $Thrifty Credit Service overdraft protection account
We obtained consent from you for each of the four credit inquiries; therefore, I am not able to submit a request to remove any of them
I hope you are happy with your new PenFed Access America checking accountWe are pleased to welcome you to the PenFed community and look forward to serving your financial needs for years to come
Sincerely,
Christopher ** M***
Senior Vice President, Operations