Pentagon Federal Credit Union

Dear [redacted],
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Your complaint filed with the Revdex.com regarding your PenFed Credit Union [redacted] Cash Rewards account was received in my office on June 1, 2015. I appreciate having the opportunity to address your concerns.
First and foremost, allow me to express my sincerest apology for the poor service you received during your telephone call to PenFed on May 26, 2015. Let me assure you this is not reflective of the level of service we wish to provide our members. I ensured management was made aware of your experience.
In August 2013 we made the decision to reduce the cash rewards earned with the [redacted] Cash Rewards accounts and assess a $25 annual fee on all accounts where the cardholder does not have a qualifying PenFed product. Notices of the change were mailed on August 31, 2013 to all accountholders.
Your Visa account was originally opened in May of 2007. The August 2013 notice stated the annual fee would be assessed on the anniversary date of your Visa account, and as such the fee was charged for the first time in May of 2015. Your April 20, 2015 credit card statement contained a reminder that the annual fee would be charged on the next statement.
The Assistant Manager of Card Services was pleased to speak with you directly regarding your concerns, and refunded the $25 annual fee as a courtesy. We hope the actions taken to resolve this issue meet with your satisfaction.
I hope this is just the first step in restoring your confidence in PenFed. We would appreciate the opportunity to continue to be your partner in financial success.
Sincerely,
John K[redacted]
Senior Vice President, Card Services
PenFed Credit Union

Dear [redacted],
 
I regret our initial response did not fully resolve your concern. Additional consideration was given to your request and I am pleased to share the outcome with you.
 
Based on the unique circumstances surrounding the delinquency, I approved removing the 30-day late payment reporting on your Pentagon Federal Credit Union (PenFed) [redacted] account and changing the reporting with the consumer credit reporting agencies.  The change was submitted to the three major consumer credit reporting agencies, [redacted] and [redacted]. Please allow up to 60 days from the date of this response for the agencies to update your file after our submission to them.
 
I would like to personally thank you for your service to our country and for the trust you have placed in PenFed. I hope my actions fully resolve this issue and help to restore your confidence in our ability to meet your financial needs and treat you as valued PenFed member.
 
Sincerely,
 
[redacted]
President/CEO
Pentagon Federal Credit Union

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!

Your complaint filed with the Revdex.com regarding your PenFed Platinum [redacted] Signature account was received in my office on February 10, 2016. I appreciate having the opportunity to address your concerns.I was sorry to hear of the circumstances surrounding your payments to your...

PenFed Platinum [redacted] Signature account. It is unfortunate this experience has left you with an unfavorable impression of the credit union. Depending on the payment instructions, interim or one-time payments made through PenFed’s online banking service, PenFed Online, might not stop the processing of other scheduled payments. Payments for the statement balance of a credit card account will pull for the exact amount of the last statement, even if subsequent payments have been made. In your case, because your credit card account was still open, your recurring payment for the statement balance still pulled on February 6, 2016 even though you had paid the account balance in full in the interim. I understand this payment was returned by your other financial institution on February 11, 2016. We refunded the $25.00 charge to your [redacted] account for the returned payment. It appears you were charged $34.00 by your other financial institution for their rejection of the February 6, 2016 transaction. As you have subsequently closed your PenFed membership, a check for this amount was mailed to your address on record. Though it is disappointing to receive complaints such as yours, it is this type of feedback that points out areas within our operations in need of improvement or correction. In an effort to prevent this from happening in the future, we are looking at ways in which additional information about payment processing can be provided at the time they are established within PenFed Online.I am disappointed you chose to close both your PenFed Platinum [redacted] Signature account and your membership. I hope you will find a reason to return to us at some point in the future.Sincerely,

'Leelawadee','sans-serif'; FONT-SIZE: 11pt">Dear [redacted],
 
Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) mortgage refinance application was received in my office on April 14, 2015. I appreciate having the opportunity to address your concerns.
 
In reviewing your file, I see we also responded to your past communications regarding this issue. The responses from the Office of the Chairman of the Board and the President are included with this response. I hope those responses adequately addressed your concerns with our service and the income verification process.
 
When you completed your online application, you indicated your intent to have us proceed with processing your refinance. We therefore began ordering the necessary services to move forward with your request. Each of these orders incurs a fee from the party performing the service, including application submission, appraisal, flood certification, and credit report. We have, in good faith, already paid these third party fees on your behalf with the understanding if the application did not close, you would reimburse us for those costs.
 
However, as a goodwill gesture, and due to the concerns you expressed, the full amount of those fees is being refunded to your credit card.
 
I appreciate your interest in our PenFed real estate offerings, and the time you took to share your concerns. Your opinion is important to us, and I hope the future brings opportunities to provide you with financial assistance.
 
Sincerely,
 
Cindy G[redacted]
 
Sr. Vice President, Mortgage Originations
Pentagon Federal Credit Union

Your rejection of our response filed with the Revdex.com (Revdex.com) regarding your Pentagon Federal Credit Union (PenFed) membership was received in my office on February 22, 2016. I appreciate the opportunity to follow up with you.
 
I was pleased to hear you were able to obtain a refund of $19.00 from your credit card company. We received confirmation from your credit card issuer of the refund to your credit card account.
 
We placed a stop payment on the PenFed check issued to you, in anticipation of your receipt of the funds by other means. Please do not cash the check, and it may be destroyed.
 
Thank you for considering membership with PenFed.
 
Sincerely,
 
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:
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]

[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]

[redacted] / PenFed Response
Inbox
x 
Pentagon Federal Executive Correspondence
Oct 13 (10 days ago)
to me 
[redacted]
 
Since the date of our last response to this complaint, we were able to locate [redacted]’s accounts in our system. Below please find our full response to [redacted]’s complaint. A copy of this response will be mailed to [redacted] shortly.
 
Thank you.
 
Sooz W[redacted]
Executive Correspondence Officer
Pentagon Federal Credit Union
 
 Dear [redacted],
               
Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) Thrifty Credit Service Line of Credit (TCS) and [redacted] Gold accounts was received in my office on September 23, 2014. I appreciate having the opportunity to address your concerns.
 
PenFed was notified of [redacted]’s passing on January 17, 2014. Because you are not a joint owner on his checking or savings account, I cannot detail how any remaining funds in his accounts at that time were distributed. However, it is PenFed policy to apply funds from the share accounts of deceased members against any outstanding PenFed debt for that member.
 
You were a cosigner on [redacted]’s TCS and [redacted] Gold accounts. We received your Decree of Absolute Divorce and Incorporated Separation Agreement on July 15, 2014. It is stipulated in the Separation Agreement that [redacted] should remove your name from his accounts and assume responsibility for the debt. To accomplish this, both accounts needed to be closed and paid in full, either through payment to the existing joint accounts or by refinancing the debt in [redacted]’s name.
 
While at the time of your divorce [redacted] did not meet PenFed’s lending guidelines to assume the [redacted] and TCS debt in his name alone, both accounts should have been closed to further charges. I regret this step was not taken. Our review of the accounts found the current balances are comprised entirely of charges incurred subsequent to your divorce. Therefore, we are removing your name as the cosigner and releasing you from responsibility for repayment of the balances.
 
An update was sent to the three major credit reporting agencies, [redacted], [redacted] and [redacted], to permanently delete the TCS and [redacted] accounts from your consumer credit report. Please allow up to 90 days for this change to appear on your report.
 
I apologize for the inconvenience and distress created from this situation. I hope my actions fully resolve this matter for you. Should you have other concerns or questions, please feel free to contact us directly.
Sincerely,
 
Fred R[redacted]
Senior Vice President/Chief Credit Officer
                                                                                               
 
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.

Dear **. [redacted],

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Your complaint filed with the Revdex.com regarding your father’s Pentagon Federal Credit Union (PenFed) account was received in my office on July 8, 2014. I appreciate having the opportunity to address your concerns.
 
Please accept my sincerest apology for the service your father received. We strive to provide our members with the superior service they deserve, and I regret this was not demonstrated in this instance. Since the account is solely in your father’s name, I am unable to discuss the details of the situation.
 
Be assured your concerns were given their proper attention and contact was initiated directly with him. I am confident the situation has been resolved to the satisfaction of all parties involved.
 
Sincerely,
 
[redacted]
Executive Vice President/COO

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

Dear **. [redacted],

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Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) mortgage application was received in my office on June 22, 2014. I appreciate having the opportunity to address your concerns.
 
I am sorry to hear of your dissatisfaction with our handling of your mortgage application. Since your prior refinance in May of 2011 there have been significant changes in mortgage lending. Congress sought a way to address some of the issues that led to prior problems in the mortgage industry. The end result was the creation of the Qualified Mortgage, a precisely defined and tightly regulated type of mortgage meant to protect borrowers from predatory lending and insulate lending institutions from claims that they participate in predatory lending practices. PenFed has a long history of conservative lending and keeping the best interest of members in mind, made the decision to adhere to Qualified Mortgage guidelines for both first and second mortgages. This change went into effect in January of 2014.
 
Qualified Mortgage guidelines require careful documentation of the borrower’s ability to repay their loan. The “Ability to Repay” rule includes, but is not limited to, verifying current income and assets, employment status, debt obligations, and the monthly debt-to-income ratio. In addition, specific standards for obtaining documentation to substantiate a borrower’s income and obligations were established with which we must comply.
 
In reviewing your application submitted on March 23, 2014, I see a tentative closing date was provided of April 30th. While every attempt is made to adhere to the tentative date, it is dependent on many factors both within and outside of our control, and this cannot always be accomplished. In recognition of this, we provide a generous rate lock period of 60 days, which exceeds the tentative closing date.
 
I am sorry there was a delay on our end after we received a report that the appraised value of your home was not sufficient to meet the loan amount you requested. As a result, we were required to issue a counter offer and we were slow to do so. I also noted that as a result of Processor changes, there were times you were asked for information you had previously provided. I sincerely apologize for the frustration these issues caused you. This is not the level of service we seek to provide.
 
In spite of this, we contacted you on May 20th to set a closing date, which was prior to your rate lock expiration date of May 23rd. At that time, you chose to delay closing to reduce the amount of pre-paid interest required at closing. You selected a later date after being informed it would exceed your rate lock expiration date.
 
At the time of your application, you were provided with our rate lock disclosures and given the option to lock, float or purchase rate protection. The rate-lock disclosures state:
 
If the closing of a loan does not occur within the lock commitment period, the loan rate will be relocked for a new commitment period equal to the term of the initial lock commitment period and will be the higher of the current rate at the date and time of expiration or the rate at time of initial lock for the program selected.
 
You chose to lock your rate at 3.125%. On the date of the rate lock expiration, the rate for a 15-year, fixed rate mortgage had climbed to 3.375%. As you were aware that the closing date you chose was beyond the rate lock period, I do not find cause to provide the lower rate on your now closed mortgage.
 
I asked **. [redacted] to contact you to discuss your concerns in further detail. Unfortunately, as of this date, you and she have not been able to coordinate a time to do so. I hope you will make contact in the near future.
 
I appreciate that you turned to PenFed for your home financing needs and regret this experience has left you with an unfavorable impression of the credit union. I 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,
 
[redacted]
Executive Vice President/CAO

Dear Mr. [redacted],
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Your complaint filed with the Revdex.com was received in my office on June 15, 2015. I appreciate having this opportunity to address your concerns.
 
First, I’d like to assure you that PenFed follows the dispute guidelines and regulations set forth by [redacted] when handling all [redacted] card disputes as required by Section 11.1.1.2 of [redacted] Core Rules and [redacted] Product and Service Rules. You may view the full regulations at the following link:
[redacted].
 
According to Section 11.1.28 of the regulations referenced above, merchants are required to provide proper disclosure of their cancellation policies. During our investigation we found the merchant, [redacted], was not able to successfully demonstrate that proper advisement was given of their refund/cancellation policy. As such, the dispute was resolved in the cardholder’s favor. A chargeback was processed on March 27, 2015 in an effort to recover the remaining $300.00.
 
You mention in your correspondence that the cardholder agreed to a cancellation fee of $300; however, the cardholder did not corroborate this and a second dispute of a $300.00 charge from [redacted] was processed on April 2, 2015 which was also honored. 
 
As mentioned, as a [redacted] card issuer, we are required to follow [redacted] guidelines when handling all disputes and we have done so in this case. As such, we are unable to reverse the chargeback. 
 
Sincerely,
 
John [redacted]
Senior Vice President, Card Services

[redacted]FW: You have a new message from the Revdex.com of Metro Washington DC & Eastern Pennsylvania complaint #[redacted].InboxPentagon Federal Executive CorrespondenceAttachments6:21 PM (22 hours ago)to me Hello [redacted], We missed our due date on this...

complaint and mailed our response to [redacted]. Pasted below is a copy of that letter for the Revdex.com’s records. Thank you, Barbara W[redacted]Coordinator Executive CorrespondenceOffice of the Chairman of the BoardPentagon Federal Credit Union This e-mail and any files transmitted with it are confidential and intended solely for the use of the individual to whom it is addressed. If you have received this e-mail in error, please notify the sender. The recipient should check this e-mail and any attachments for the presence of viruses. While Pentagon Federal Credit Union makes every attempt to prevent the transmission of any viruses, it is not responsible for any damage caused by any virus transmitted by the e-mail.
 
 [redacted]Tarrytown, New York [redacted] Re:  Fraudulent Membership Dear [redacted], Your complaints filed with the Revdex.com regarding the Pentagon Federal Credit Union (PenFed) account fraudulently opened in your name were received in my office on November 3, 2014 and November 7, 2014. I appreciate having the opportunity to address your concerns. On October 21, 2014, your identifying information was provided to us through our website, www.PenFed.org, and used to open a PenFed membership. A share (savings) and two checking accounts were opened on this membership. Applications were also submitted and approved for a PenFed [redacted] Promise credit card and a Thrifty Credit Service (TCS) line of credit. On November 3, 2014, you contacted PenFed by phone and informed us this membership and the associated accounts were opened fraudulently. In response, the credit accounts were immediately closed. By November 5, 2014, the membership and all associated accounts were closed. We regret any frustration caused by correspondence you may have received during the time we were closing down the membership. A request was submitted to all three major credit reporting agencies to remove any record of the [redacted] and [redacted] accounts, and to [redacted] specifically to remove the hard inquiry made when this membership was opened. [redacted] will not allow the full removal of an inquiry; however, they will change it from a “hard” inquiry, which can affect your credit score, to a “soft” inquiry, which does not affect your score. A letter containing the information used to open the membership and how it was supplied to PenFed was mailed to you on December 5, 2014. An Affidavit of Forgery was also mailed to you from our Card Fraud Department to confirm the charges made to the PenFed Promise [redacted] are fraudulent. We received the completed affidavit from you on December 5, 2014. The credit card fraud case will be finalized and you will receive no further contact from PenFed on this matter.
[redacted]
Tarrytown, New York [redacted]
We regret any frustration this experience caused you and hope you find this to be a satisfactory resolution.  
Sincerely,
Vincent *. G**
Vice President, Security and Facilities
                                        ...⇄ /> cc:  Revdex.com

Dear [redacted],
 
Your complaint filed with the Revdex.com regarding PenFed Credit Union’s disbursement of funds from your checking and share accounts was received on May 5, 2015. I appreciate having this opportunity to address your concerns.
 
You will recall PenFed received a Notice of Garnishment from the State of North Carolina (NC) Department of Revenue dated August 6, 2014 for the funds in your PenFed accounts. The garnishment stated it was for taxes due for the period January 1, 2013 to December 31, 2013, with an estimated total amount owing of $807.49 if payoff was completed by November 4, 2014. The garnishment indicated there would be a 20% charge by the State of NC if the lien was not paid in full in 60 days, plus additional interest and fees.
 
A copy of the Attachment and Garnishment along with PenFed’s Notice of Fee letter was mailed to you on August 13, 2014.
 
PenFed is required by law to withhold monies belonging to the taxpayer and forward those funds to the State of NC Department of Revenue. Our responsibility under this garnishment is ongoing until written notice from the Department of Revenue is received that we have been released from it. Should we fail to withhold and forward these funds, we can be held liable for the taxpayer’s debt to the extent of the failure to withhold.
Based on the lack of funds in your PenFed accounts, we closed the accounts and your membership on May 6, 2015. As a courtesy, the $10 ACH uncollected funds fee charged to your checking account on April 15, 2015 was refunded to you. You may contact the State of NC Department of Revenue for additional details on the funds still owing to them.
 
We understand the garnishment created a difficult financial situation for you, and recognize it is stressful for you. We hope you are able to resolve these issues with the State of North Carolina.
 
Sincerely,
Stanley *. S[redacted]
Vice President, Associate General Counsel
PenFed 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.  
I have gone into the stock market, and hopefully will pay the house off in full instead with my investment strategy.
I would like to thank you for two cents in interest, and the quick manner for returning these funds.I hope that the yield curve does not continue to flatten.
Regards,
[redacted]

Dear [redacted],

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Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) [redacted] accounts was received in my office on September 10, 2014. I appreciate having the opportunity to address your concerns.
 
A limited time offer was made to select PenFed [redacted] cardholders during the time period of January 24, 2014 through March 24, 2014. This promotion offered a $10 credit for each bill payment set up on your [redacted] account during the promotional period, with a maximum credit of $30. The promotion allowed you to earn credit for paying a bill with your credit card, and pertained only to “card not present” bill payments.
 
We do not have record that either of your PenFed [redacted] accounts were included in this promotion. Additionally, we did not find any charges to your [redacted] accounts between January 24, 2014 and March 24, 2014 that met the conditions of the promotion.
 
If you have a copy of the promotional mailing you received, please provide it to us along with a list of the charges you believe qualified for the promotion.
 
Please send the above to:
 
Pentagon Federal Credit Union
Attn:  Executive Correspondence
PO Box 70046
Eugene, OR  97401
FAX:  ###-###-####
 
We will be pleased to give your request further consideration with this documentation.
 
Sincerely,
 
Scott *. Y[redacted]
Vice President, Card Services
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]

[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]
 Complaint: [redacted]
I am rejecting this response because:
I have in fact closed the account because I have a sneaky feeling that you make a lot of money collecting these fees. I can not help but wonder how many mortgage applications are denied after you have accepted these fees. I have already been approved by [redacted], but I have declined. I would not be in this financial mess today if the Pentagon prevented the Trade Center from falling down. Good luck to you.
Regards,
[redacted]

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, 2014.

We appreciate having the opportunity to address your concerns. However, given the information provided on your complaint we are unable to locate your account in our records. Please 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