Pentagon Federal Credit Union

Pentagon Federal Credit Union

 4.0/5 (447 ratings)
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About Pentagon Federal Credit Union

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Page 2 Reviews 10 - 40
Rated with 1 star
Verified Reviewer
Original review: April 26, 2022

They made a mistake when reversing a fraud charge at the same time they were converting from one accounting system to a new one. They put the charge back on my account and 6 months later I still cannot get anyone to actually fix it or that knows what happened to actually call me back. Their customer service reps are very low functioning and seem completely untrained. Always several transfers to someone else that I then have to re-verify with. They are a nightmare to deal with.

Their banking system and mortgage/equity line system are now completely separate and don't talk to each other at all. In order to make a payment on my equity line I have to create an external payment account on their mortgage system. They also changed my equity line account number and are reporting both accounts as if I have 2 equity lines with them to the reporting agency. I have made multiple attempts to dispute this but to no avail. They say "it's right". They are completely incompetent.

8 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: April 19, 2022

After over a year of trying to close my autistic younger brother's account so we could deposit the money in a court-ordered trust fund, they finally sent the check, to the wrong address! This sojourn started over a year ago when my mother died and her estate went into probate. After supplying PenFed with the court order placing myself and my brother as co-guardians and co-conservators of my autistic brother's estate, plus all relevant information, they continued to drag their feet on liquidating the account month after month. Finally, they mailed the check on April 2nd of this year to the wrong address after they had been supplied the correct address well over a dozen times as well as it being recorded on the court order! As the title sums it up, the level of incompetence is unprecedented. If you open an account with these people, be aware that you may not be able to close it without playing musical chairs for the better part of a year.

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 30, 2022

My experience with these PenFed employees was terrible. Angela **, Megan **and Brandi ** don't know what they're doing. Angela is a Mortgage Processor, Megan is a Digital Mortgage Loan Officer, and Brandi Balch is a Director of Mortgage Operations. Unfortunately I had to do their job. We were supposed to close on 03/11/2022, but since Angela doesn't know what she was doing, she submitted my documents late to the VA. Obviously, VA has its own rules. I had to contact the VA loan department to get information that the lender was unable to obtain for some reason. Then I had to email them the information the VA gave me. Also, they do not verify the documents you send them. Why am I saying this, because when I contacted the VA, the officer told me that the Closing Disclosure was unreadable. PenFed has a good rate, but these mediocre employees raise your blood pressure. Buyers should be aware of these mediocre employees.

22 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 21, 2022

Pen Fed Loan Officer had me pay for an appraisal for $580 then told me my debt to income ratio would not permit loan approval. I clearly explained my income reduction due to COVID impacts on my employer out the gate because I didn’t want to waste time. After charging my credit card $580, the loan officer then told me underwriting wouldn’t approve the refi and that I should not have been required to get an appraisal because they knew my debts and income long before and had analyzed it. They stole my money, wasted my time and lied. I will NEVER spend money with them again although I’ve been a member for 30 years. I withdrew all my money and deposited it in another institution. PenFed is a fraud, the loan officer is incompetent and they’re both thieves. I hope everyone takes their business elsewhere. PenFed is criminal.

20 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 7, 2022

PenFed uses the acronym "credit union" when in fact they do not help anyone lower income! I have perfect credit and was looking to refinance my home with over 200k in equity. I have been receiving emails almost every other day from Penfed asking me to refinance with theme, they will even offer $500 at closing and no closing costs to try and bait you in. So I finally gave in and applied, most of my income is rental income which my loan processor told me I should not include on my application? I knew that was a mistake, but I went ahead and of course was eventually denied by the underwriting department because of excessive debts relating to income without any further communication from Penfed. SAVE YOURSELF the aggravation and apply for a HELOC or look elsewhere other than PENFED!

7 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Feb. 19, 2022

Pentagon Credit Union redesigned their website and now it is not user friendly. It is difficult to make a payment on a home equity loan. If you click on make additional principal payment it removes the standard payment for principal and interest making your account delinquent. It looks like you must make the interest and principal payment, then log out and log in again to make an additional principal payment. I am not happy with their website.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 17, 2022

I have over 25 years of investing experience and secured over 40 loans from 20 banks other than PenFed. I have never witnessed such incompetence, never experienced such a lack of basic communication and never received such abysmal treatment as I did with this company. The following are some warning highlights based on my personal experience. Failure to head them MAY cause severe financial upheaval as well as destroy your ability to buy your dream-home...

1. The Loan Officer, Venessa ** was quick to run my credit and "lock in" a low rate based on my high score but had no working knowledge of how to calculate self-employment income. She ignored my suggestion to wait until my 2021 taxes were filed which was a severe mistake. She argued and became irritated when a manager was requested.

2. I lodged a complaint with corporate and was contacted by Home Loan Operations Manager Chris ** who referred me to the Manager, Consumer Direct Mortgage Loan Officers Jennifer **. J. ** displayed the same lack of understanding of Fannie Mae guidelines and although I again suggested waiting for my higher income 2021 returns insisted that she "go ahead and send 2019 and 2020 over to underwriting to see what they say". Horrible advice especially from someone managing the loan officers.

3. I started with 5 weeks to close requesting that PenFed inform me asap if there would be any issue with securing the loan. They squandered 3 weeks before declining the loan making it impossible to start over with another bank. 4. While this travesty could have been avoided on the FIRST phone call had the Loan Officer possessed even a basic level of training regarding self-employment income, it CERTAINLY should have been handled correctly at the management level which was NOT the case.

5. Both individual operated under the FALSE assumption that Fannie Mae would accept a 24 month averaging of income. However, when income declines from one year to the next they ONLY accept an averaging of the most recent 12 months. Had they headed my suggestion and I submitted my 2021 taxes I would likely not be issuing this warning. I will soon be closing my accounts with Pentagon Federal and will invest in an organization I deem to be competent and who values their clients enough to listen and respond effectively.

14 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 29, 2022

My husband and I just closed on our refinance with PenFed, which we used based on a friend's referral for a good rate. While we did get approved for a decent rate, the experience after the initial quote was absolutely horrible. I'm not sure it was worth the .2% we saved. Our loan process began on 9/24/21 and was consistently delayed despite our providing every requested document in a timely fashion (4 months to the day!!). The loan processor was rude, treated us like a chore and like she didn't have time for us because she was just so busy (like we don't have jobs), and always tried making up a zillion excuses as to why she couldn't manage our loan properly.

As for our Loan Officer, he was barely involved and twice he and the processor basically ghosted on us... We went weeks without a response or an answer to our questions. I had to call multiple people on the main line begging representatives to figure out what was going on so we didn't miss anything and nobody had an answer. Turned out our processor had Covid, but guess what...that doesn't mean you just drop your customer. Someone should have been handling her clients!! Then they tried charging us (twice) to extend our rate and I was like, "NO! You do not get to cause a delay on our loan and then put that extension fee on us." If WE did not submit our documents in a timely manner, then of course, that is for us to pay. But if PenFed is the cause behind that delay then that is THEIR problem.

They treated us like 2nd class citizens and couldn't answer questions properly, made us hunt down payoff items that we were later told we never needed to get ourselves, were always telling us late in the day on a Friday or before a holiday weekend that important documents were required ASAP that made us drop everything to accommodate them because they couldn't be bothered to do anything in a timely manner. Our website was never current with the status of our loan, we received conflicting information from every representative we spoke with regarding who was responsible for what... And when we finally did get a manager involved to help, they got moved to a different department and we had no way of knowing our updates.

I finally had to call a new manager and have a polite fit about the service because we were going past 3 months trying to close on this mortgage and it was becoming impossible. FINALLY this gentleman was able to make it happen, but all the way through closing there were surprises and curveballs because these people couldn't be bothered to communicate anything with us and what to expect and how things would play out, and then acted baffled and confused that the average person didn't know the full ins and outs of mortgage lending or could read their minds and anticipate every next step. It was horrible, I wouldn't recommend this lender to my worst enemy.

My only hope, now that we are done, is things will just be managed in the background and we won't ever have to talk to someone from this company ever again. Although after reading reviews stating issues with their escrow accounts I'm becoming very nervous. Absolutely abhorrent customer service. I do not know how these people have the high ratings they do... It would seem they are a new company these days who doesn't give a hoot about their customers.

17 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Dec. 28, 2021

Well it used to be 4 stars - but that is because I never asked for more of my $ than the ATM can give out. December 9 I took almost a 100K check to Pentagon Federal Credit Union on Miramar Rd. - because they had refused the wire transfer from the mortgage company. I requested a large cash out from that check. It is December 28 and this cash out has still not been successful! Pentagon Federal on Miramar Rd as well as thru the 1800# has consistently failed with any pro-active customer care, situation ownership or active problem solving to attain the resolution of simply complying with my legal request to access and possess my legally earned earned funds in a cash form.

It is beyond ridiculous at this point! As a customer, had I failed in the agreement, as they are - I would be facing penalties, late fees, more interest, frozen accounts and legal action. Seemingly as a law- abiding US Citizen and Pentagon Federal Credit Union member (since I was a teen), I seem to have zero recourse. If anyone has ideas, please let me know. Again - Pentagon Federal Credit Union may be fine, if or until you actually want your money. What are they hiding? Why can't I have my funds? Do they not have any money?

FAILS.
No customer service.
Zero proactive customer service.
Zero follow thru when committing to an action or an appointment.
Zero accountability.

A big fat zero.

21 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 28, 2021

PenFed, Worst credit union ever, their system is screwed up and removes a number from my account in their system when they try to take a payment. I've made them aware of this after spending HOURS ON THE PHONE with customer service, twice they've made the payment on the phone with the correct account number but when they try to process it through their system it gets screwed up, twice I've initiated it online, and even though it's stored correctly online, same thing happens.... SO MY PAYMENT NEVER GETS MADE, YET NO ONE CONTACTS ME ... IF I DIDN'T PAY ATTENTION THIS CRAPPY CREDIT UNION WOULD RUIN MY CREDIT SCORE SAYING I MISSED A PAYMENT, EVEN THOUGH I'VE MADE IT 4 TIMES!!!!

What about compensation for the HOURS I've spent trying to fix your mistake, or the interest I'm paying on a loan balance that should be paid... And they won't give me a direct number to contact anyone. Have to call the stupid 800 number during business hours only and explain the whole situation to a new idiot to still not get it right!

15 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 27, 2021

My recent experience with PenFed mortgage financing was awful and I would not recommend them at all to anyone. I started my loan process back on August 9 and at that time, I was told that the typical time to close was 60 days so I fully expected that PenFed would be able to close this loan by the middle of October at the latest. Since August 9, I have submitted and resubmitted all of the requested supporting documents and attempted to stay in regular contact throughout the loan process with my loan processor, rarely receiving a return email or phone call. For every request from PenFed, I responded immediately after I was asked and followed up each time. Conversely, PenFed did little to bring this loan to a close and rarely communicated with me.

Finally, I was sent an email on 10/29 from my loan processor that my loan is in final review, and I followed up with his manager on Friday 11/5 who told me my loan is expected to close on Nov 15. However, the PenFed loan portal never reflected this at all and as you can imagine, the loan far from being closed. I don't trust PenFed, but I was stuck with them because this process had gone on for so long and PenFed was aware of this. I finally started tweeting at PenFed in mid-November about my frustration when someone finally helped me from another group within the company (not the one that I was working for). By the time I received help, it was mid-November and I had switched jobs, moving to self-employed status (although more than 100 days had passed since opening my loan application).

I was told by the new person that my loan officer and loan processing manager were going to have to get involved to bring the loan to a close due to the change. But of course, that never happened and after I followed up several times, the new person called me and told me that my loan could not be closed, 107 days after I had started the process.

17 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 27, 2021

We got a mortgage about a year ago. It was our first one, and we were prepared for it to be difficult, but it was a disaster. Constantly asking for documents we had provided. Asking the same questions over and over again. Something was going on where they didn't have much faith in us and this slowed down our loan to the point we had to pay the seller off to stay in the deal. Because of our experience our broker stopped using them, saying he had never seen such a qualified couple have such an issue with a lender, going back to 2008.

Customer service has been almost as bad, at least on the escrow front. First, they didn't pay the right property tax amount and we got hit with a surplus bill. I asked the escrow department if they could pay it out of our account and was told "it's for annual escrow payments, you can't use it for just anything." Yeah, I know, I was asking you to use the escrowed property tax funds to pay my property taxes. I ultimately learned that they truly can't pay the surcharge out of the escrowed funds, and that's fine, but the woman treated me like I wanted the funds to pay for a night in Vegas.

I'm closing the escrow account as soon as I can. Second experience was trying to adjust the property tax payment because it's low going forward, which I just found out - so I'm on the hook for an extra 1k that they should be covering. In this case, I was told I had to email their tax department (no phone number). As you can guess, I have yet to hear back days later. I haven't had any experiences with other mortgage companies, maybe they are all this bad, but I really hope not, and will use somebody else next time.

20 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 22, 2021

After being approved for a $20,000 loan, receiving the check, depositing the check into a savings account with their institution, transferring $2600 to an external account and twice making $999 Western Union transfers to my granddaughter.,,suddenly just out of nowhere my identity needed verification again. I had been in the hospital and my Social Security card had been lost but I was told that along with my government issued ID and utility bill some kind of tax form would work as verification of Social Security Number.

So I get SSA-1099 from the Social Security Administration and submit to Penfed and they quickly tell me that tax forms aren't acceptable even though 6 emails stated tax forms or notarized letter from SSA are the only acceptable alternative. So when I receive the notarized letter from SSA I'm told it's not acceptable either. Penfed needs to figure out what is acceptable for documentation and what is not. They need to work on their customer service and how the reps handle customers and update their information that is passed on to customers. These last 2 weeks have been a nightmare.

16 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 23, 2021

Like Jennifer who reported in August 2021 she felt that the Penfed customer service dept is disjointed and on something (paraphrasing her review), I too felt the same way. Something is very very very wrong/off with Penfed. This is NOT the Penfed of OLD but the Penfed of new and this is a wake up call to upper management to check your front line. Your customer service reps are TERRIBLE!! They don't answer questions, emails correctly. They constantly hang up on you. They don't show any empathy. Based upon my own personal experience, they don't have any respect for the customer. We're just another number to them and they don't care what they tell you.

Penfed of new behaves like a careless bank, not a credit union. I read somewhere that Penfed just recently purchased a jet? Why in the world does PENFED need a jet? At the very least this comes off as a major sign that Penfed is not a member oriented CU. At worst it shows the world at large that this is now a big institution pigging itself out while others of us are suffering. You need to sell the private jet. That's a luxury item. It doesn't bode well for your employees or your membership.

27 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 15, 2021

I received a flyer from PenFed saying I’m preapproved for up to $30,000. (And I have an account with them but bank with USAA.) Decided I would get a personal loan for $10K to pay off another higher interest loan. First, their website…On your phone and probably other hand held devices…primitive, lagging and all kinds of issues. It’s 2021 and you don’t have a website that can work properly?? That’s a good clue to probably stay away. After several tries I finally sent in the information to be approved or not. I understand that they do a soft pull and see I could possibly get this loan but not a guarantee. After hitting send You’ll get the standard “you will hear back in 24-48 hrs on our decision”.

Fast forward a week later and I send them an email to check on the status. At least they wrote back within a few hours. But, I was told that I’ll receive an email or letter on why my loan was denied?!? Why? I have over a 700 credit score and great income. Income to debt ratio is like 20%. But I’m denied??? The kick in the face…after 10-15 mins later I get an email from PenFed saying that I’m preapproved for a loan up to $20K…really?!?!? No thanks! Horrible communication, horrible website and based on what I’ve read here…I’ll never apply for anything here again. I don’t care if it was 0%. This Credit Union is a joke. Stay away!!

29 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 26, 2021

I am seriously at a loss for words at the way I have been treated by this company. Not once, not twice but three times now!! I should not write a review now as I am still so angry. Dealing with the people who work in member services, (toll free number), is like dealing with two year olds who are in their own world. It is like dealing with zombies! I ask a question and the responses are not even related to the question! Are they on drugs? I'll write more later. I am too ticked off right now and I very very rarely post bad reviews but this company should be ashamed of the way they treat people. The people who are training and doing QA need to be fired, along with the employees. I am closing my accounts ASAP today!

26 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 17, 2021

I have been very frustrated with PenFed regarding my loan for many reasons. First, I have reached out via phone call and email several times to have a supervisor contact me and no one ever did. Eventually my loan officer reached out to say the underwriters were still processing the loan and never explained or apologized for the delays. The loan took 5 months to close! I always provided all documents within in days but then it took weeks to review then ask for additional documents. This process was a torture. I finally signed the closing documents then it took 11 days to send funds to my old bank and 2 weeks to send me my funds which was suppose to be overnight!

21 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 20, 2021

Started a refi application in March 2021. I checked with Penfed being that I have an auto loan and cc account with them all in good standing. The penfed employee was great, took tons of personal info, pulled my credit, etc. and was approved by penfed confirmed by the employee. The employee said I would be contacted by another employee with further instruction. Well that's where it went downhill. After about two weeks I'm asked by a loan officer for a ton of information, most of which was submitted with the initial application. Send in all the info, two weeks go by then another loan officer contacts me requesting the same info, submit all the info again, two weeks go by then another loan officer contacts me requesting same info, now I contact the initial employee expressing my concern as to what is going on.

In the meantime I drop $500 for a home appraisal. Weeks go by again then I receive an email from a new loan officer requesting all the info again and if not received within one week they will not approve the loan. Now I contact the initial employee and express my concern again so she tries to proceed with getting the process expedited. She is very understanding and not understanding why they are repeatedly asking for the same information. After a few emails I don't hear from her or anyone else even after sending in multiple emails. Now 4 moths later I receive a denial letter due to credit report, what! My scores are 780+, and a stellar credit history. So I just filed a complaint with the BBB for being mislead and spending $500 for an unnecessary appraisal. If you're basing my denial on my credit report then why proceed with approval on day 1. Very misleading.

21 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 23, 2021

The rates on deposit accounts are above average. Customer service falls incredibly short. Expect to wait 15 mins+ each time you call. I had a credit card charge that was disputed, as the merchant put in writing I would be refunded. With this in writing PedFed said “There is nothing we can do, and at least it’s only $112 lost.” Really? I immediately transferred all accounts $25k out… Trust is a major factor of banking and if I can’t trust a small issue to be handled, I can only imagine the maze with larger concerns.

15 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: April 9, 2021

We decided to refinance our home after 17 years and decided to go with Penfed. The loan processors were great until we decided early in the process to cancel. Now Penfed refuses to return our calls regarding our $490.00 appraisal fee.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 8, 2021

Bad bad bad! They said I was approved for a credit card, but still have my account as restricted. They keep telling me I have submitted all required information but keep asking for documents I uploaded already. It has been over 90 days!

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 29, 2021

I wish I could give a NEGATIVE 5 star score. I have been a member of Pentagon Federal since active military duty in the 1980's and in the past I had no issues with their customer service. Recently I decided to refinance my mortgage with them. I spoke with a loan officer named Rocky, who seemed like he knew what he was doing. He offered a great VA loan rate and I decided to go through the process. He never discussed locking the interest rate and I was shocked when many weeks later the loan processor called and questioned why the rate had not been locked. This step had not been discussed with me and I was made to feel that it was my fault for their lack of attention to detail.

I sent an email to Rocky's supervisor requesting the initial loan offer be honored as it was a clear and unmistakable error on the part of the loan officer. Several days later after emailing, calling and texting, the supervisor named Manny finally called back and told me there was nothing he could do. They offered me a loan with a higher interest rate and additional costs, none of which was in the original loan offer. I was so incredibly disappointed with their lack of ethics and poor customer service that I discontinued the loan process and went to a local credit union. I HIGHLY RECOMMEND NOT DOING BUSINESS with Pentagon Federal Credit Union. They lack transparency and are unconcerned about customer service and satisfaction.

18 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 28, 2021

Had a horrible experience with PenFed Mortgage Department, I was on hold for a long time every time I called them and the loan officer “Randina” was totally useless and unprofessional, she never answered any of my question correctly, although I sent her all my documents ahead of time she never done her part to qualify me right, I worked with her for 2 months before I get into contract and sent her everything she asked me, when I actually got into the contract and after paid $300 to do the home inspection she told me that they can not get the loan done, she wasted so much of my time and not only that I paid for home inspection for no reason. I have many emails in writing from her that she confirmed that I am good to go for the loan.

She stopped communicating with me without any explanation as why she put me through all this, I even emailed the head of the mortgage team “Joe **” to see if he can help me to see why they put me through all this for no reason but I have not even received any replay from him either. These people were so unprofessional and this whole time I was honest with my response to them and tried my best to be nice and follow their process but at the end I was out of a lot of time and money and no one even bother to contact me and explain what is going on?

They simply stop communicating with no resolution or explanation. I don't recommend PenFed to anyone, they are so messed up, do not give them the chance to do what they did to me. Hope someone from PenFed call me and give me the answers I deserve, do not waste your time working with people like “Randina”, can not expect much more from her when “Joe **” her boss do not care either. Horrible experience, never deal with them again.

12 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: March 11, 2021

Don't leave a bad review. They will drag their feet and become more inept. My wife and I are trying to refinance our home, but once we hit 140 days waiting to close, and for them to do their jobs, my wife wrote a review saying that they are slow. Know today, we hit 183 days!!! We have an email telling us closing would be in a few days. THINKING it was finally over, what happens they never pulled the title. BLOW US OFF. NOT EVEN A CANCELATION EMAIL, NO PHONE CALL, NOTHING!!!

HERE IS THE BEST PART. THE VA (YES THIS WAS A SECURED LOAN) APPRAISAL expires at the 180 mark and guessed what THEY NEVER INFORMED US UNTIL I CALLED TODAY. We HIT 183 days so we have to start all over. TO MY BROTHERS AND SISTERS that have Served they don't care. They Claim to be overworked and it's not their fault. PENFED likes to pass the buck. PICK SOME other company!!!! This will happen to you! Day 1 or 182. AIR FORCE 81st (A-10).

17 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 16, 2021

I started the VA Loan process on 9 June 2020 and received a closing date of 10 AUG 20020. I was contacted a few days prior and told that, “due to covid” the closing would be postponed, but my rate (2.5%) would carry until closing. I requested an increase in the loan percentage, I borrowed, and lowered the APR, but all paperwork was completed by 7 OCT 2020. It’s now 16 FEB and the closing dates I was given (one at a time) “the end of January” and when that didn't work, “5 FEB” have both passed, uneventfully!

Last night I spoke with a senior manager, Andy, and he hung-up on me when I got frustrated and said “I’m tired of this [**]” (meaning the lack of responding back to me, the length of time it's taking, etc.). He immediately said "I do not have to tolerate that kind of language" and promptly hung-up. Are you kidding me??? This snowflake didn’t even give me a chance to apologize for saying it (which I was started to), when the phone went dead. I called back and told him that PenFed had "horrible customer service" and that I expect someone to call me immediately and tell me when the closing date is. It’s now 16:16 on 16 FEB 2021 and so far no calls or emails. They really don’t seem to care! Run Away!!!

20 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Dec. 11, 2020

We started a home loan with PenFed in July with a closing date of Dec 31, 2020. They waited until Nov 15 asking for a ton of information, to process it, which we provided. Then on Dec 2, 2020, they tell us they can not get an appraisal done before closing which meant we would lose the house. This left us scrambling to find a new mortgage company with less than a month of closing. Very bad service with no concern to help with this.

31 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 9, 2020

They froze my debit card for unusual charge to a vender that I make monthly purchases from. No text, call or email asking to verify purchase. Instead you have to call and wait on hold for about 30 minutes to get verified by one agent then they transfer you to another agent who you are placed on a long hold again. Then you have to verify as well with that person and start over like they have no idea who you are or why you are contacting them. This was a huge time consuming process but I could deal with that. These things happen especially this time of the year.

The biggest issue is that they don't care that you were inconvenienced in any way. They treat it as if this ordeal happened because of something I personally done and it was me inconveniencing them. When I tried to make them aware of my experience they just ignored my experience and rushed me off the phone. I have had a couple of ok experiences with them but for the most part they are bad. I would steer clear from this company.

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 8, 2020

Sad to report that PFCU mortgage let me down. Once a place to get great products and service no more... I have been struggling since July 2020 on a PFCU equity refinance. The PFCU mortgage folks found a great 15 year fixed solution for me. The problem, it took nearly 5 months to close. Now the refinance with PFCU to a fixed 15 year is finally closed November 13, 2020 and we were able to payoff the first mortgage, the PFCU equity line, and a PFCU VISA card balance. Pretty awesome...

Unfortunately, it's December 8, 2020 and despite the closing documents indicating a $24K PFCU VISA payoff the VISA card is still not paid-off. Over three weeks after closing on the loan and a payoff check from title company cannot be located?? A check from PFCU Mortgage to PFCU VISA is missing?? Why is this my problem?? Multiple calls and e-mails to executive management to rectify this situation and I still have a balance on my VISA account. To be fair to PFCU, the individuals I have spoken to have been professional and courteous. My issue is the length of time it is taking to resolve this matter. No one can tell me a date / time my balance will be paid off...

18 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Dec. 5, 2020

I would greatly appreciate a reason why my wife and I can't get a straight response from PenFed for this awkwardly long refi process. We have made financial plans based on the constant coming and going of closing dates we've received for the last seven months and it's deflating. We have made numerous attempts to get in touch with someone and when we did, shortly thereafter the contact stop. This experience has been so disappointing compared to our previous transaction with PenFed. I'm in finance with my work and the way my wife and I have been treated currently by PenFed is totally deplorable. At this point, it is beyond getting the refi request to feelings of being disregarded, disrespected and totally neglected. I'm sure, in the past seven months business didn't stop for PenFed, but for whatever reason PenFed business stopped for us. Prayerfully, someone from PenFed will give my wife and I some clarity or closure. Thanks.

28 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 27, 2020

So for many years we were highly satisfied customers not Belvoir Federal Credit Union... then Penfed (initially we thought the 2 merged, quickly realized that Penfed took over.) We also realized that we were dealing with the “Kmart of banking”. Familiar Tellers were gone with young or foreign born replacements, void of the basic customer service skills we had experienced before. Long lines, unexpected closures, no working ATMs, etc. now I’m sitting in a drive through line with 10 others cars and finally. Considering a bank change ASAP after an unannounced week long closure where a note was posted on the door with no reason that they would be closed. I’m done. I’ve voiced concerns before with no service recovery efforts returned on their part???‍♀️ Do not even consider trusting your money with this organization.

18 people found this review helpful
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Pentagon Federal Credit Union Company Information

Company Name:
Pentagon Federal Credit Union
Year Founded:
1935
Address:
2930 Eisenhower Avenue
City:
Alexandria
State/Province:
VA
Postal Code:
22314
Country:
United States
Website:
www.penfed.org