Pentagon Federal Credit Union
Pentagon Federal Credit Union
Overall Satisfaction Rating
  • 5 stars
  • 4 stars
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  • 1 stars
Based on 97 reviews that contain star ratings

Pentagon Federal Credit Union

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105 Pentagon Federal Credit Union Consumer Reviews and Complaints

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Rated with 1 star
Verified Reviewer
Original review: Oct. 17, 2018

The loan was paid off and waited for my title in the mail, but never came. When called, I was told they already mailed it out a few weeks ago. When asked if they can trace it, and they said no. They sent out in regular mail. They told me to go to DMV and get a replacement title on my own cost. Nice!! Will never do business with this company again. Stay away!

6 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: Sept. 18, 2018

Have been dealing with PenFed for many years and they always offer top interest rates on their savings accounts. Also get pre approved credit card and loan offers frequently. Money is transferred fast and efficient between other financial institutions.

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Rated with 5 stars
Verified Reviewer
Original review: Sept. 12, 2018

What are these negative reviews I am seeing? Pen Fed has been the fairest bank I have dealt with. Customer service is great! It is all how you deal and talk to people. NEVER had one problem. Skip the negative reviews, give PenFed a try, you won't be disappointed!

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Rated with 1 star
Verified Reviewer
Original review: Aug. 6, 2018

I have had numerous issues with PenFed since the 90s! As a single mom, I needed to be on a strict budget and "back then" I thought PenFed was the way to go. WRONG. In the past 10 years I have stressed over what they are doing to me. Just recently, after signing a "WAIVER" in 2017 to delete my flood insurance from escrow... what did they do?? Charged my escrow the flood insurance premium ANYWAY... and sent it to the insurance agency!! When I discovered it... they asked ME to send THEM the money back as it may take 6-8 weeks to get their money back from my flood insurance company.

THEY TOOK THE MONEY FROM MY ESCROW 3 MONTHS IN ADVANCE FROM WHEN THE PREMIUM WAS DUE. This was NOT my error, but Pentagon Federal Credit Union's mistake. My mortgage keeps going up and up and I feel I am contributing to THEIR assets. They are too large, with too many people dealing with our money, and it appears they cannot accurately handle all the accounts they have acquired.

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6 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 26, 2018

An awful organization who don't care about what you are, all they care about is how much money you have, never again will waste one cent of time towards working with these people, PenFed is the worst credit union and it shows!

11 people found this review helpful
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Rated with 5 stars
Verified Reviewer
Original review: June 22, 2018

I've received a personal loan and two credit cards from PenFed. Process with painless, polite and professional service, and received more funds/credit with Penfed than any of the others. The most highly regarded Corvette dealer in the US highly recommended them to me and he's been dealing ONLY with them for over 20 years. That said, your next car loan should be with Penfed. I don't make anything on this and I'm not related or affiliated with Penfed. I just read the reviews and had an entirely positive experience. Two thumbs way up.

2 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: May 26, 2018

Since Pentagon Federal "acquired Valor FCU" customer service is awful and they do not have "real time banking." VERY DISAPPOINTED! Shame because Valor was a Great Credit Union!

9 people found this review helpful
Rated with 2 stars
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Verified Reviewer
Original review: Feb. 17, 2018

Lost close to 80,000 points on two credit card accounts that I've had open for 10 years. Despite showing that the vice president a card services clearly indicated in 2010 there were "no limitations" on points earned in the accounts, PenFed put wiggle words in their agreement that they expire points yet failed to document this on statements, your accounts page in on my banking, or through online banking messaging. No one else in the credit card industry that I can find expires points on credit cards. No credit unions, no banks, new brokerage houses - except PenFed. Hell, the only loyalty program I can't even find that expires points is Wyndham. And those are loyalty programs, not credit card points.

I had a mortgage with PenFed for nine years, no issues with that. The minute I bring up objections to PenFed having absorbed with no notification almost all the points on my credit card accounts, their executive offices pretty much extend a big middle finger. Basically they're happy to take tens of thousands of dollars in interest income from you for your mortgage, but they're unwilling to provide you actionable information regarding the points on your credit card account in even though it's only a couple of hundred dollars (or in my case close to 1000), they refuse to work with the customer. I expect this from a big bank but in all honesty I've never even had a big bank do this to me.

If you have a rebate card, great you're probably OK. You have a points card... at any point in time I wouldn't expect those points to be in the account anymore because they play way too fast and lose IMO and don't even follow what are clearly industry standards on how this is handled. You're probably better off just putting a couple hundred dollars in cryptocurrencies.

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12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 13, 2018

PenFed has probably the worst customer service. They put you on hold and leave you in the abyss for well over 20 minutes. They don't disclose their policies easily and even when they tell you a policy, such as ability to use one credit report as long as it is within 90 days, after 60 days they want another one. If you open a savings account the only way to transfer money out within the first 6 months is via wire transfer which could cost you as much as $60 depending on what your other bank charges.

18 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 16, 2018

We have had a mortgage with PenFed for nearly 3 years and it has been the most cumbersome account. My husband and I own the home together and both of our names are on the loan, but for whatever reason, they opened the associated savings account under just his name. We don't use the savings account for anything, they just required it to be opened in order to have the mortgage with them. They obviously set it up wrong, since everything else is under both of our names, but they made an error and set up that portion under just his name. I still have to send in a check by mail every single month because we have not been able to set up online access with them. You have to have the member number in order to set up online access, but we never received a member number from them and we don't use the account so we have no need for a member number.

When I call, they refuse to talk to me without a PIN and they won't issue us a new PIN because I am "not on the account" and therefore I'm not authorized to request that they issue us a new PIN. They will only talk to my husband, and every time he has tried to call we can't get anyone on the phone. It's such a ridiculous process and it doesn't seem to matter how many managers we have talked to, no one will listen to reason and look at the fact that I'm on the mortgage and should have every right to set up payment of said mortgage. They also take forever to deposit our checks, which is very odd and unprofessional for a financial institution. It is currently the 16th of January and they still haven't cashed a check that they received on 1/5/18. If we could move our mortgage without losing our rate I definitely would.

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16 people found this review helpful
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Pentagon Federal Credit Union expert review by Barbara Friedberg

PenFed Credit Union provides financial services and quality customer care to military members, government employees and their families. Established in 1935, PenFed has over 1.4 million members and more than $20 billion in assets.  Their members span the United States and military bases in Puerto Rico, Guam and Okinawa.

  • Services and products: The PenFed offerings are tailored to their member population. In addition to typical checking and savings account products, PenFed has a suite of lending offerings for vehicle and home buyers along with personal loans.

  • Credit card products: In addition to simple debit and credit cards PenFed has rewards cards and military credit cards.

  • Auto loans: The credit union has loans for new, used and refinanced vehicles. Their additional auto loan products include a “payment saver” loan and a car buying service.

  • Calculators: To help members take charge of the money, PenFed has a variety of online calculators including mortgage, card comparison, auto loan payment and savings certificate growth calculators.

  • Home center: For members seeking to purchase a home, PenFed offers many tools. Their portal includes information for first time home buyers, a home ownership dictionary, rate comparisons as well as loan products.

  • Deployment guide: Immediate deployment is a reality of military life. The PenFed site has a complete downloadable guide for deployed members to ease managing financial and life details.

  • Financial Hardship Center: The PenFed Credit Union understands that life happens and offers guidance to help its members through tough times with specialized financial-assistance programs.

  • Best for: PenFed is ideal for civil servants, government employees, military service personnel and their families.

Profile picture of Barbara Friedberg
Barbara Friedberg Personal Finance Contributing Editor

Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.

Pentagon Federal Credit Union Company Information

Company Name:
Pentagon Federal Credit Union
Year Founded:
2930 Eisenhower Avenue
Postal Code:
United States
(800) 247-5626
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