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Pentagon Federal Credit Union

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Reviews Credit Union Pentagon Federal Credit Union

Pentagon Federal Credit Union Reviews (219)

Review: On February 05, 2014, www. penffed.org advertised 5/5 arm mortgage rate as 2.75 % with no closing cost to borrower. We applied loan through online and we sent everything what they asked for. They never delivered materials with a via postal service. Couple days later, they said that we have to do house appraisal first, so they did it.

3-4 weeks later, when we suppose to close the our loan, instead email sent by Charles W[redacted], mortgage process (MLO # [redacted]) from a [redacted] Service Center said that we can close the our loan because the we exceeded the our debt ratio (43%) guideline and the result application was denied. They charged total fee of $430 on me my credit card.

Our debt ratio had not been over 43%, our debt ratio was under 35% because we pays off all the credit cards balance every month. I tried to explain to him, but he said, that is not his decision and he closed the case.

I need to get full $430 refund, what they charged on me ,because they didn't fully explained the product what they are offer to me, before I get into application process and our debt ratio was never been over 43%, but insisted. When I demanded explanation, they never explained to me nor contact me.. I need to get back my $430 full refund they charged on me.Desired Settlement: I need to get full refund $430

Business

Response:

[redacted],

Review: After filing a complaint with the Revdex.com, I am still receiving unsolicited information and items such as a credit card, and am being told that I have somehow established a money market account, a savings account and other accounts. The Pentagon Federal Credit Union apparently has access to a great deal of personal information, which makes me think that they may be unwittingly or deliberately accessory to identity theft.Desired Settlement: I want all my personal information on file to be deleted, steps taken to deter identity theft by deleting all accounts and personal information, and for the Pentagon Federal Credit Union to stop contacting me.

Business

Response:

More 24 of 99 Print all In new windowYou have a new message from the Revdex.com of Metro Washington DC & Eastern Pennsylvania complaint #[redacted].Inboxx Pentagon Federal Executive CorrespondenceAttachments6:22 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 UnionThis 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 [redacted]) 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.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

Review: I discovered my PenFed credit card had fraud charges on it. I emailed via the messages section of the web site 1/5/2014 and sent a hard copy letter to PEnFEd credit card services showing the two charges that were fraud to the adddress shown on my statement. I went online today and I have no charges showing on my credit card online only a balance transfer that I did not authorize either. I am older, I hate having to use online, but PenFed forced me to stop getting my statements n the mail and to have to go on this supid computer to handle my buisess. PenFed used to be a great deal, that is why I wanted their [redacted]. They have changed that card multiple times. What a bait and switch buissness they ARE! I WANT THE FRAUD CHARGES CREDITED BACK TO MY CARD ALONG WITH EVEY SINGLE OTHER CHARGE YOU HAVE PUT ON THERE! I ACCIDENTLY OVERPAID WHEN I PAID ONLINE AND MUST HAVE CLICKED 2 TIMES FOR THE PAY BUTTOME BECAUSE IT TOOK THE SAME AMOUNT TWICE.Desired Settlement: Refund all fraud charges and all fees to my accound, creidt the extra balance to my share account. Letter of appoligy in the mail.

Business

Response:

Dear **. [redacted],

Review: There is a mortgage #[redacted] for which I was given sole legal ownership. I supplied a copy of the quitclaim deed, my legal resumption of maiden name and other documentation, but PFCU is CONTINUING to send important documents and notice to my ex-husband, who has NO LEGAL claim on the property at his address, despite the fact that I have repeatedly provided documentation and my own current address a year ago. This is irresponsible, detrimental to my interests and ability to fulfill my legal obligations. I have repeatedly sent both in regular us mail and email the documentation but continue to have PFCU refuse to cooperate and resolve the issue. I am deeply distressed and unhappy with this treatment. I believe that they are discriminating against me because of my [redacted] faith and thus former last name, in addition to discriminating against me in favor of my military ex-husband who has no legal claims on this properyDesired Settlement: Correct the information and send all documentation to myself and myself ONLY, as sole legal owner of this property.

Business

Response:

Dear **. [redacted],

Review: I have attempted to close the checking account in my name through PENFED but after several phone calls of them saying they are going to close it.. its still open.

The most recent call was about a month ago where they had me verify all my information and security questions and said that the account would be closed in a few days and that I would receive a closing statement in the mail. I have received nothing other then continued email statements showing the account is still active. This is not an issue that should require me to call in multiple times.Desired Settlement: Close the account.

Business

Response:

Dear [redacted]:

Review: After notifying Penfed about unauthorized charges on a credit card they agreed to provide a credit card replacement on November 24th. They did not. Without the card I am not able to access the complete transaction history on the account. Because of this I cannot verify the other charges on the account.Desired Settlement: I would like Penfed to deliver the replacement card as agreed upon and provide the documentation that they would like filled out delivered to the address associated with this complaint. I do not want to make another payment on this account until I can verify the charges on the account. I would like a payment of 20 dollars for Penfed failing to provide the card and documentation as they agreed to.

Business

Response:

Dear **. [redacted],

Review: I applied online for a new car loan w/PFCU. I received a reply that my application had been sent to a loan officer and I would receive a reply within 24 hrs. I never did, so I called the next day and I was told to check online. When I still did not know the following day I called again and I was told everything was being handled in **. I was then told the loan was disapproved, so I asked why as I had previously had a car loan w/PFCU which was paid off w/no late payments. I was told my credit report showed serious delinquencies, so I pulled a copy from all 3 cr bureaus. There was one delinquency from Springleaf Financial, which showed up 6 times appearing as 6 accounts. I actually paid off the account and they then said there were two late charges which I owed but had not been included in the payoff. I did not think this was legal and refused to pay them after the fact. [redacted] actually called my mother who was shown as a contact and tried to get her to pay them for me. They told her they were taking me to court. I am an adult and I own my own home. They disclosed my personal data to her, and they reported me as 60 days late to the credit bureau. When I called PFCU back to explain this to them, the rep said there was nothing she could do. I asked to have a local PFCU loan officer call me and she said no, the loan was disapproved. I have never been late with a car payment or a mortgage payment. I though the advance of dealing w/your credit bureau was personal service. I also have an additional $7200 in rent which I report on my income tax which the online rep was not interested in.Desired Settlement: For a local PFCU loan officer to contact me at [redacted] or [redacted] re the application and the poor service.

Business

Response:

Dear [redacted],

Review: Dear Sir/Madam,

At the beginning of June of 2014, PenFed Bank has applied - retroactive - interest charges to my credit card account for the months of January, February, and March claiming that their system made an error an that I should have been charged those interest charges. I was under the impression that my card has 0 APR for one year which would be April 2014, which so it happened and after which I paid my balance in full. They are claiming that no, it was never 0 APR but that their system made a mistake and did not charged me interest charges for those three months. I called them 5 times, and every time I had to go through the painful discussion once again why am I calling, as if they cannot read the notes recorded. One customer service representative promised that someone will call me back, while 2 seemed to not comprehend the issue at all, so I had to request to talk to their supervisors. Both supervisors said they agree, apologized, and promised to remove the charges. It has been one month and nothing has been done. During the last conversation with them, which was on Monday, June 30, the supervisor said in 3 business days it will be corrected. I told her, I give you 5; and here we are another week and nothing has changed. I am at a point of despair and I don't know what to do anymore. I think I speak English so I don't know which part is not clear. Plus why they keep saying it will be resolved and it is just not being done. It is very stressful and nerve raking. Their system made an error, so why should I be punished for it? It is just not fair to the customer. This is a post factum charge and I was not given the opportunity to pay these charges then. They cannot just come back after 5 months and throw some interest charges because their system is not working. I am sorry, but I am desperate with this issue and it is causing me real anxiety each time I look at this account and nothing happens, while they keep promising that yes the matter will be resolved. Thank you very much.Desired Settlement: I would like that they commit in an official letter to remove those charges by a definite date.

Business

Response:

Dear [redacted],

Review: My dad was approved for a auto loan up to $50000. He found the vehicle he wanted and 4 hours to meet the seller of the vehicle. After deciding he wanted it they went to the sellers bank and signed all the paperwork. Penfed said the check would take up to 15 days to process. The price of the vehicke was $45000 with a 72 month payment plan . Everything was fine, days went by andthe seller contacted my dad and said the check was invalid. When he called they told him they changed the amount they would loan was $42,500. So my dad called to talk to someone at penfed and within 5 minutes they whent from 42,500 down to $41000 and they only wanted to do a 60 month payment plan after we already agreed and he signed all the paperwork. My dad is a retired army general and is sick with m.s. and doesnt have the energy for all this run around and humiliation of explaining to the seller what's happening. He has always been on time with bills and its wrong for a bank/ credit union whos goal is to supposedly help members of the military and veterans to change agreements with out notice . Ive sceen alot of similar complaints about penfed online and really hope something gets done about their continual breach of contract.Desired Settlement: I want them to honor the agreement they made with my dad apologize for their rudeness and all the aggravation and imbarrasment they've caused my father.

Business

Response:

Dear **. [redacted],

Review: Member [redacted]

Pentagon Federal reneged on car financing even though my loan was fully approved and they were cutting the check to send out.

However, I asked the check to be held before sending out so I could close the deal with the car first.

I went and closed the car deal Saturday (got them to lower the price another $300 dollars)

When I called on Monday to have the check mailed, as they were processing it, someone from the loan department (Loan officer [redacted] out of Omaha, and supported by someone named [redacted]) flagged it due to having over 100kmiles (104k to be exact) they said they could only do the 3 years vs 5 years

I said absolutely not, I had already given a $1000 “Non Refundable” deposit after having a totally approved loan.

I love working with PenFed normally

When I changed the vehicle on Thursday from the previously approved car, they had to re run it though underwriting with the new amount, term, and said to call back tomorrow to see if I was approved.

I called back on Friday as requested and spoke to an agent in loans identified as [redacted] said I was approved. At that time they took additional information and ran the vehicle through their appraising engine. (It was valued by PenFed at 21,000-22000, for which I was only financing 10,000) They had the mileage, the VIN and dealership address to put on the check.

This loan even went back through Underwriting before being re-approved.

I mentioned to agent [redacted] , that now that I was preapproved what happens next? She correctly me and said no [redacted], you are fully approved, the check is going out and you will have it in a couple days. I asked that the check be held as I was doing back one last time to see if I could negotiate it down further.

I managed to get it down another $300 (during previous trips it started at 17k, they lowered to 15,900, to which I offered 15,500 to which they reliantly agreed, but said no more). On Saturday essentially being the end of the month as I was walking away, they agreed to 15,200). I gave them a $1000 non refundable deposit and said I’d have them the balance on Tuesday.

Now Its Monday and you say you can’t give me the loan for the terms you approved it at, and you admit that it was your fault. This was confirmed by today’s agent [redacted]). Identity of the loan officer [redacted] spoke with on Friday, or any of the other party’s she spoke with during a long hold has not yet been provided.Desired Settlement: Hopfully someone on leadership will recognize the value of a bank keeping their word. Like I said, I love working with PenFed, I have moved just about everything I do from [redacted] (I’ve had about 25 hears), to PenFed as I’ve had great service in the past. I hope things don’t change that.

I’m told I should engage [redacted] Senior Loan Analyst Ext 1137 at the [redacted] location (fortunately it’s just about 5 miles from me in [redacted].

I’m told she manages the loan officers and evaluates risk.

I don’t think there is a lot of risk for a loan that only 4k miles over normal guidelines, especially considering PenFed values the car at over 21,000, I’m only asking for 10,000, I have a long flawless history with PenFed, and on May 8 will celebrate 10 continues years supporting Navy (specifically NAVSEA at the WNY)

I want this loan, as agreed upon. I happy to meet [redacted] up on [redacted] if she so desires.

I respectably feel this is the only way to resolve this complaint

V/r, [redacted]

Consumer

Response:

---------- Forwarded message ----------

From: [redacted]

Date: Mon, Apr 29, 2013 at 4:21 PM

Subject: RE: You have a new message from the Revdex.com of Metro Washington

DC & Eastern Pennsylvania in regards to your complaint #[redacted]

To: [email protected]

Cc: [redacted]

Complaint resolved.

[redacted] Senior Loan Analyst has agreed to reinstate the

previously approved terms

Thankyou, Revdex.com and Pen Fed issue resolved

Review: I applied for a mortgage with Penfed on 11/17/13. I was told someone would contact me in 24 hours. Someone contacted me 7 days later. I provided this person, [redacted], with all requested info within 24 hours. [redacted] ordered an appraisal on 11/27/13. The appraiser contacted me and informed me she was going on vacation for 2 weeks. This timing did not work for me since I needed a fast appraisal. I tried to call [redacted] over 20 times and she did not respond to my voicemails or pickup her phone. I also emailed her on 5 occasions, to which I received no response for 3 weeks. I finally called customer service and requested to be re assigned to another loan officer. [redacted] took over my account on Dec 17, twenty seven days after my initial complaints about the timing of the appraisal. [redacted] was very responsive and professional. [redacted] re ordered the appraisal. I was informed the appraisal was performed on Dec 18th. It is now January 14th and I have still not received a copy of the appraisal, which was supposed to be provided to me. Penfed has charged me $430 for the appraisal and other fees and has rejected my application. How can I be charged for something that I have not yet received, much less received in a timely manner. Penfed has blamed their vendor and informed me that it is not their fault of vendor delays. I believe it is their fault, and their responsibility, to manage their vendor. Also, since I applied to Penfed on 11/17/13, interest rates have moved up a great deal, costing me more money. If Penfed had been timing in responding to me and providing me with the appraisal (which they still have not done), I could have saved money versus the loan rate I would be getting now. I am very disappointed in Penfed's constant delays & I do not believe they held up their end of the bargain by not responding to me for weeks at a time and by not sending me a copy of the appraisal. I should not be charged for a product that was not received.Desired Settlement: I would like to see the $430 fees for the appraisal and application refunded to me. I still have not received the appraisal. I no longer want a copy, I just want a refund. I also beleive I should be complensated for the increase in interest rates, but I understand that is an unlikely outcome.

Business

Response:

Dear **. [redacted],

Review: On around Augus 20th 2013 Pentagon Federal Credit Union decided to without warning devalue points on their Penfed Premium Travel Rewards card without any notice by raising the cost of redemption by 20%. Gift cards and items that previously cost 1000 points to purchase now cost 1200. As a member with over 100,000 points this change WITHOUT ANY WARNING ended up decreasing the value of my points by almost $170.00. The lack of any warning or notice to ensure I was able to redeem my points at the rate at which they were accrued constitutes fraud as far as I am concerned.Desired Settlement: I want either a credit of $170.00 or 20,000 points added to my account to compensate me for the theft that penfed committed on my account.

Business

Response:

Dear **. [redacted],

Review: Pentagon Federal Credit Union has changed their rewards program without notice. Therefore causing me to effectively lose around $80+ dollars. Notice should have been given to customer prior to the change so that they could at least spend the points they had accumulated. Furthermore when I originally signed up for the card there was rewards that I would get x amount of dollars. However, since they have now changed the plan, that statement is no longer true.Desired Settlement: I wish to be able to be refunded the difference in value of my point that I had accumulated prior to the change.

Business

Response:

Dear [redacted]:

Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) Visa account was received in my office on September 9, 2013. I appreciate having the opportunity to address your concerns.

PenFed management performs periodic reviews of all products and services and changes are made as necessary to balance costs and revenue. We have offered rewards products in varying forms for over ten years and have at times adjusted them as necessary to maintain the program’s integrity and the credit union’s financial strength. In August 2013 we made the decision to reduce the value of the points earned with the Visa Platinum Rewards accounts.

I regret any inconvenience caused by the lack of notification of the value reduction and understand your disappointment. Point fluctuations are standard in the Credit Card industry and do not typically warrant prior notification, as this is not a change to the terms and conditions of the account.

The Program Rules, Term and Conditions available on PenFed.org www.penfed.org/platinumrewardsbenefits states:

Program Changes. PenFed and/or the Reward Center, in their sole discretion, may change or terminate participating merchants, withdraw, limit, modify or cancel any reward, decrease the amount of points earned per purchase, or increase the number of points required for any reward, even though such changes may affect the accrual or values of Points or Rewards.

Cardholders receive the redemption value in place on the date they redeem their points and not based on the date earned. Therefore, I am not able to provide you with additional points.

At this time, the PenFed Platinum Rewards Visa card continues to offer the same rich rewards structure, as advertised: 5 points on gas purchases, 3 points on supermarket purchases, and 1 point on all other purchases.

I am sorry about the impact the reduction has for you and hope you will continue to enjoy the benefits the card has to offer or choose one of PenFed’s other offerings.

Sincerely,

President/CEO

Pentagon Federal Credit Union

Consumer

Response:

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

Review: [redacted]

I am rejecting this response because:

The response given explains why it was done. However, it was more or less saying that Penfed had decided not to provide excellent customer service by informing its customers of the upcoming change. Instead, it decided that it would supposedly act within it's rights to change its policy which affects the monetary value of its customers accounts. Furthermore it does not remedy the fact that part of my points that were reduced, were from my initial sign up, which means false advertisement of the cash bonus that I was entitled when signing up for the card originally. The fact that this has occurred suggests one of the following 1) poor planning when introducing the card which is causing a negative impact on your financials. 2) The credit union is having difficulties and is trying to reduce costs. 3) The credit union is trying to improve its financials at the expense of its customers. What ever the case maybe it does not portray a high level of comfort for your customers to stay. I hope that you can plan better in the future as I will be taking my business else where.

Regards,

Review: Good Day,

I have been a member of the Pentagon Federal Union for some years and have recently bought a car. The interest rate for this car was 1.99% when I signed the contract. Every since I have been having situations involving monies. First I feel that they are penalizing me for paying the car in advance for example. I have been making payments in the amount of $500.00 every two weeks. I then noticed on my statement that they were charging me 15.00 every time I made a payment. So last time I remembered the finance charges was not in that amount when my car payment has been 434.00. Also I have made payments in advance all the way until April 2013. I called and inquired and they informed me that they charge finance every time you make a payment. I later was informed that in order to make principal payments you have to call. So I have been doing so as instructed. So my car payment still isn't due until April 2013. I recently made two payments in the amounts of 1,000.00 two 500.00 payments in two weeks. I noticed on the statement they charged me 153.41 in finance charges for the first payment and then 4.75 on the next.

This is unacceptable!!!! I will immediately find another car lender and finance my loan and take my monies from this credit union. They are playing many tricks and games. I did not see this on the contract that I signed. This in my opinion is a scheming me out of my money for simply paying for my car in advance at that. This is simply not fair I have paid the car on time or before. They are being bullies and taking monies from me plus they are penalizing me for doing the right thing by paying them back!!! They are the ones who offered 1.99% for the loan. This is not what they promised. This is what I want

I want them to refund the payment since it was an over payment of $500.00 immediately. As a matter of fact I want the $1000.00 dollars back and I will just pay them on time as they asked not before (I have never been late) I will make principle payments as they instructed.

I cannot believe that this practice conducts business like this. I am very dissatisfied and have been with their services since I have purchased the car. I cannot believe that banks do these kind of things to people I have excellent credit and have been a customer with them for several years. I will never purchase products with them again.

!!! PLease help meDesired Settlement: Refund on payment which was 1,000 Payment was made in advance, payment is not due until April 2013

Will make payments on time and make over payments by phone until loan is complete

Business

Response:

Dear [redacted],

Review: I choose this institution over [redacted] for a mortgage and was pre approved but was not deliver was lie for two weeks

two weeks ago I applied for a mortgage with [redacted], and was pre approved, I ask the person over and over again if I was able to close on this loan with all the paper work I sent , he continue to to say I was approved,at one point when it came to the numbers the amount to close was way over the amount he has said at the beginning , putting me in a hard choice to come up with the money, sowe decide to go conventional loan with a 5%down which put us in about 31000, two days later he email me and told me he had made a mistake and had giving me wrong information so he stated that he was going to reestablish my 100% of my va loan, at this time my wife two kids two dogs and the entire household was on the way to florida from kansas, I paid over $2000 for the rental of the pensky truck and spend over 1500 dollars in fuel to get there, (by the way I'm in Afghanistan) my wife drove over 1200 miles to get there, again I was told that I had no problems what so ever!!, I have very good credit never been late on any of my payments and have all my accounts in a good standing with different banks including [redacted]. I have two more properties that are for sell including my own, with the VA loan,that's one of the reasons I sending this complaint not because I was not approved but because I was lie over and over again, I have been with [redacted] for many long time and had never defaulted on any of my loans.

Im defending the United States and the constitution by serving overseas and this is hoe=w a multimillion business treat me and my family. at this point, I started to transfer all my accounts away from this bank I not longer want to continue my bussness with it.Desired Settlement: im looking to get refund for the rental truck the fuel and hotel that I have to spend to send my family there, They have no place to stay in the meantime I have to pay for hotel room and food until I find a rental or resolve this matter

Consumer

Response:

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

Review: [redacted]

I am rejecting this response because:

I'm not upset at your decision of not giving me the loan (another bank did) however the fact that your loan officer told that my wife go ahead and make the move to another state with two kids two dogs a 26 ft truck full of furniture and driving for 27 hours exposing her and my entire family to the dangarous of what the road can bring only to tell her 35 minutes before the supposed closing that the loan was denied?, I have purchased many other properties and never had this type of experience!, I believe your loan officer acted in a racist kind of way once he learned we were [redacted] and the lack of professionalism in doing this type of work, all this cost me around 10,000 dollars and because my wife and kids had no place to stay when the loan was denied so she had to rent an apartment month by month until the problem was resolved! notice my new address is the same address I was trying to purchase with the loan that you for one or another reason denied me for.

Review: I am being reported 30 days late on my credit report for a TCS loan. I explained to several supervisors that this case is not correct and sent documentation.. The last sup said it would be removed. Has not beenDesired Settlement: Remove 30 day late from Credit reporting.

Business

Response:

Dear [redacted],

Review: Pentagon fcu charged our credit card for $742. on 15 October 2013 for mortgage services which we never received. Not a bill a statement, an explanation for charges, just a charge for incompetent services or the lack of...

They for many many reason failed us as customers then boldly charge of for a loan they were too incompetent to complete by 30 September 2013 as agreed to in our application. I will keep this simple pentagon did not have a fully executed and ratified sales contract with permission from seller to provide a loan in which we applied for. So legally pen fed had no right to do anything until the contract was valid. Therefore we want our money's charged return to us immediately! We made multiple attempts asking for help for weeks. We asked for for the name of the manager of mortgages or that they call us which never was provided to us. On 16 oct the day after the charges to our account and loan closure someone finally called us. Too little too late!Desired Settlement: I want a complete refund and an apology for the many weeks of incompetence I suffered through.

Business

Response:

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 October 28, 2013. I appreciate having the opportunity to address your concerns.

I regret you received poor service with your mortgage application. We strive to provide members with the superior service they deserve, which includes clear and consistent communication. We appreciate the anxieties that come with purchasing real estate and I regret that our processing of your application did not help to alleviate them.

I reviewed our contact with you and the documents we obtained. Your online application was submitted to us on August 29, 2013. You provided with your application your intent to proceed with the PenFed mortgage application. When an application is for the purchase of a home, we require both the intent to proceed consent and a copy of the sales contract. You provided the fully executed and ratified contract to us on September 6, 2013. Though a contract amendment would be necessary to list PenFed as the title company, the contract was sufficient documentation from you to order the appraisal and other required services for the home you wished to purchase. The orders were placed at that time.

On September 9th, we provided an accounts condition letter that included a provisional approval and a list of the documents required from you for underwriting approval. When these documents were not received by October 10, 2013 and we did not receive a response to an email asking if you wished to continue with the application, your application was cancelled.

Also during the online application, you were presented with a disclosure that stated you would be responsible for third-party costs incurred with the application if the loan did not close. You provided us with a credit card account number to charge for these fees. Therefore, when your application was cancelled, you were charged for the appraisal and other costs incurred to date.

Given that our communication and follow up with you was not as it should have been, I refunded your credit card account for all costs incurred with the application. You will see a credit applied to your credit card account in the near future. I apologize for the inconvenience and frustration you experienced with this application. I hope my actions help to alleviate some of your displeasure.

Sincerely,

President/CEO

Pentagon Federal Credit Union

Consumer

Response:

[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.]

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.

From the appearance of the response penfed looked into our complaint and recognized several failures.

We really appreciate that penfed took this serious and accept it. Penfed is right about documents asked for not being received but we did send everything requested, and then reported the email failures. From our experience with other banks they have a email address where people can send documents of a larger nature then forward as needed. This would be something helpful to members for the future with penfed.

Review: I recently closed on a refinancing first mortgage loan with PFCU. Part of a promotion that was offered by PFCU which convinced me to refinance my mortgage loan with PFCU was a promo that PFCU would provide a credit at closing to cover the first month's principal, interest, taxes, and homeowners insurance. At closing, I was only provided with a credit for the first month's principal and interst and was told by PFCU at that time that I did not qualify for the credit for property taxes or homeowners insurance because I did not escrow those items. So my credit did not include these items, which totaled $166.67. The promo offered by PFCU did not state in the offer details that these items had to be escrowed in order to receive the credit at closing. I then spoke with a manager at PFCU on the date of my closing of May 13, 2013. He took some info from me, including a copy of the promo and he informed me that I would hear something back from the PFCU management team within 48 hours. I have not heard anything back regarding this matter.Desired Settlement: A credit, as offered in the promo, should be issued to me for my first month's property taxes and homeowners insurance in the amount of $166.67.

Consumer

Response:

Fwd: You have a new message from the Revdex.com of Metro Washington DC & Eastern Pennsylvania in regards to your complaint #[redacted].

Review: I received written notification that an account had been opened in my name at the Pentagon Federal Credit Union as well as notification that a credit card has been issued. These notifications contain personal information (SSN, DOB) which has been obtained without my knowledge or consent.Desired Settlement: I want letters and spurious notifications to stop, and my information on file at the Pentagon Federal Credit Union to be destroyed. The so-called account that has been opened in my name must be closed and the so-called credit card destroyed and the account closed.

Business

Response:

[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.

Review: I have a credit card account with Pentagon Federal Credit Union. The card I have is called "Platinum Rewards [redacted] Signature." I accumulate rewards points when I make purchases, and the rewards points can be exchanged for gift cards.

Recently, Pentagon Federal changed my rewards program so that the points I have already accumulated are now effectively less valuable. For example, I used to be able to exchange 5,000 points for a $50 gift card. Now, it would cost me 5,900 points to receive the same $50 gift card. This amounts to an 18% change in cost.

This change is patently unfair for two reasons:

First, I never received any notification of the change. I have accumulated nearly 25,000 points over the course of several months. If I had been notified that the rewards program was changing, I would have redeemed my points before the change (at a more favorable rate) and stopped using the card.

Second, Pentagon Federal is effectively implementing the change retroactively. I could understand if they made a change going forward and converted the points I already have to the new system. Instead, they are de-valuing the points I have already earned without compensating me.

I have contacted the company for an explanation and for resolution, but I was told there was nothing they could or would do.Desired Settlement: Pentagon Federal should at the very least convert the points I have already accumulated to the new system. In other words, since they exchange rate has been increased by 18%, the points I accumulated prior to the change should also be increased 18%. Other wise, I should be able to exchange the points I accumulated before their policy change at the old rates.

Business

Response:

Dear **. [redacted],

I appreciate having the opportunity to address your concerns.

We perform periodic reviews of all products and services and changes are made as necessary to balance costs and revenue. We have offered rewards products in varying forms for over ten years and have at times adjusted them as necessary to maintain the program’s integrity and the credit union’s financial strength. In August 2013 we made the decision to reduce the value of the points earned with the Platinum Rewards [redacted] accounts.

I regret any inconvenience caused by the lack of notification of the value reduction and understand your disappointment. Point fluctuations are standard in the credit card industry and do not typically warrant prior notification, as this is not a change to the terms and conditions of the account.

Cardholders receive the redemption value in place on the date they redeem their points and not based on the date earned. Therefore, I am not able to provide you with additional points.

At this time, the PenFed Platinum Rewards [redacted] card continues to offer the same rich rewards structure, as advertised: 5 points on gas purchases, 3 points on supermarket purchases, and 1 point on all other purchases.

I am sorry about the impact the reduction has for you and hope you will continue to enjoy the benefits the card has to offer or choose one of PenFed’s other offerings.

Sincerely,

President/CEO

Pentagon Federal Credit Union

Consumer

Response:

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

Review: [redacted]

I am rejecting this response because:

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Description: Credit Unions, Insurance Companies

Address: 1101 Grade Ln, Louisville, Kentucky, United States, 40213-2673

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