Pentagon Federal Credit Union Reviews

I made the mistake of "locking in" what appeared to be a great mortgage rate with PenFed. They dragged their feet for weeks in underwriting, only to pull the rug from under me in the last week, conveniently after rates had climbed almost 2% higher from my locked in rate. Their reason for denying funding the mortgage? "We don't offer manual underwriting". My income was well in excess of qualifying for this FHA loan. Don't waste your time with Penfed.

PENFED was originally a great CU to get a loan from, but their banking is a complete DEI joke, the most inept IT managers I've ever experienced, complete idiots, they make changes to the app and don't test android...1/2 the population use android... wow. This has happened multiple times I'm so done with them. They are FULLY DEI DUMBED DOWN. Every transaction takes days, delayed in status updates, creating extra fees, just trust me avoid these idiots.

If you value your time and effort and are averse to incompetence and having the rug pulled out from under you last minute, DO NOT deal with this company. We inquired about a HELOC through their website and promptly got a call from one of their loan officers. We were asked several questions, during which we disclosed that we were applying for the HELOC to partially finance our landscaping project for our newly constructed house. We clearly conveyed that we had already made the deposit to the contractor and the contractor had commenced work and that time was of the essence since we wanted to make sure we had sufficient funds to cover the upcoming milestone payments.

This is the worst credit union. They are very nice taking your money. Not so easy getting your money out. They make it very difficult. So if your cd expires on let’s say 12/8. They do not make your funds available that day. They have a big gimmick. They say your funds are available at midnight which is really 12/9. So basically they keep your money interest free for a day. If you go to wire your money out they hold your wire for up to a day. So they are basically holding your money interest free for 2 days.Then they tell you they have additional security measures. They are not contacting me. This is just a stall tactic. No other institution does this. They are ripping people off. I would never deal with them again.

I received a message from PenFed saying that my online payment failed because I provided an incorrect bank account number -- but it is the same bank account I have been using for years. Nothing had changed. I talked with PenFed representatives several times, and each time they made ridiculous recommendations -- like I should erase all my personal information from my PenFed account and then enter the same information again. But nothing solved the problem.

In general the app is riddled with errors. As a developer it is frustrating to use. Logging in generates sales force error. Authentication errors every third time. It takes typically three days of attempts to pay a bill until the app or website works. It says no internet connection but I can log in elsewhere fine. Bad for customers!!!

Resolved problem.

I have been a PenFed customer for 20+ years. The last few months I have had a very difficult time logging into PenFed and paying the balance due on two PenFed credit cards. Now, after doing all the requested IT approaches--clearing cache, cookies and using different browsers--I still have zero access to my account. I get a big Salesforce authentication error after completing the password log in and then completing the second factor verification. Even after it says I am authenticated, the page starts to open up as if it is going to my account, but each and every time I get the next page, which generates a big "Salesforce" logo saying there is an authentication error.

I chose to go with PEN FED mortgage because they were offering the best interest rates at the time. The initial conversation with the loan officer was great and it all started to go downhill when my application was sent over to the loan processor. First of all, it was impossible to reach my loan processor. After bugging the credit union in its entirety I was finally able to get ahold of the loan processor. She said that my offer letter was the only thing that was getting in the way of granting the loan. She stated that the underwriters were very skeptical of the at-will employment concept. I told her that it was very common in the state I live in and told her that there was no way to remove the at-will statement on the offer letter.

I’ve been with them over a year. My initial credit limit was $5k. Over a year later I called for a credit line increase and I’m declined. I have perfect payment history with them and a high credit score. I have Amex accounts with $25k plus credit lines. I paid my account off and closed it same day. Plus their app/web performance is horrible! Sluggish and constant error messages. I’d bank at a place that doesn’t seem like it’s still stuck in the 90’s.

Being with PenFed a little over a year and I have had fake overdraft fees that required me calling to correct. They have rude customer service that talk over you and never get to your issues without wanting to transfer you. Upon changing my direct deposit all of the sudden overdraft fees coming in, I would consider this as the worst credit union ever.

Don't trust this bank, they do not protect your money. I lost my iPhone and Wallet and within hours notified them, provided police report and proof of new iPhone purchase and they still denied my claim with no reason as to why. I am shocked every other financial institution assisted me and was able to credit me back my stolen unauthorized fraudulent activity except PenFed. I would think twice before opening account with PenFed as they do not protect your money.

PenFed now requires 2-factor ID to login to your accounts. PHONE is the only option for verification. No phone access, no account access. We were given NO OPTION to select an email verification. If using desktop, IPAD or tablet, you need 2 devices just to log on to your account. Obviously these arrogant IT nerds do not travel often to areas with no or limited or costly phone access. Plus I am concerned there must be a significant security issue with this institution because none of my other online banks have this mandatory phone requirement to get a login code. After many years and with sizeable deposits, I will be diversifying.

I have the Penfed Platinum Visa for over 12 years. At the beginning, I was getting True 5% on Gas and 3% on grocery. Then things changed. While they continue to give the same cashback, when you try to claim your rewards they will deduct 5880 points for a $50 Visa. Which is 880 points or $8.80 extra. It's is way less than 5% or 3% redemption. This is deceiving business practice. You can still get some store gift card on sale, $50 card for around 5000. Buyer be aware.

Transferred money out of my local credit union to PenFed. Money came right out of my credit union but PenFed decided they want to hold the money for several days bouncing the check. Do not recommend using them, poor customer service.

I highly recommend NOT using this CU. I recently used PenFed CU for CDs and found that they are by far the worst (member unfriendly, staff incompetent, slow, and have the most exorbitant fees/penalties) credit union with which I've done business. And I have done business with several local and online financial institutions over many years. To close my CDs it took a ridiculous number of contacts (phone and email). I was given the wrong information more than once, my requests were not completed or not completed timely and several of the customer service people I communicated with were short and not at all helpful. It took close to a month to get my money! Again, I highly recommend NOT using this CU.

I have a been a member of this bank for 20 years but with all the updates and people on board with not experience or care has caused major problems for me. The new bill pay system has caused me to have to make payments myself that I otherwise wouldn't have to. They know it's not working properly and have not allowed the members to not speak with the bill pay department directly. This is terrible coming from the 2nd largest credit union. I mean the representative get on the phone and try to talk to you like you are a dumb and that you are the problem when it's PenFed. I am very disappointed in them..very! :-(

Literally PENFED is messing up my credit score! The payment method is outdated, the application is horrible and 70% of my payment get kicked back for "insufficient funds" no matter how much money I have in the account. It makes no sense and it takes a whole week for the payment to process? No more payment options? I don't have this issue with my other vehicles! They need to update the payment method and let the customer pay at the spot with their debit card AT LEAST! The late fee is extravagant and it should be like that if you have the funds. When you call, nobody knows what is going on, there is no use when they "leave a note" in the system. AND STILL WAITING for my debit card in the mail AFTER 8 MONTHS!

I never write reviews, good or bad but here goes. I did an early withdrawal on 2 CDs in November knowing and paying the early withdrawal penalties - no problem. For the next month I tried to set up an external account online to transfer my money to another institution. To set up a new account you log in and go to Link External Account. Once there you are presented with 2 options: Immediate Verification and Manual Verification. Using Immediate verification I enter all my financial institution info, respond to their validation text and then get this message: "Unable to Complete Request. We had a problem gathering the account details from your other Financial Institution. To register your account, either use the Manual Verification option, or you may attempt Instant Verification again later."

The level of dysfunction of the online banking website is becoming intolerable. Functions like links to external accounts for transfers, and the online payment function for loans…inc my mortgage…just “disappear”. Customer service is a joke, want to make it look like problem is with my “device” though same problems with multi devices and OS. After literally decades with PFCU and some pretty sizeable savings accounts, I am exploring alternate online services.

PFCU has been my go-to bank for many years. However, recent "updates" to the website have made it slow and cumbersome requiring multiple clicks to do anything. Getting to your credit card charges takes multiple tries and is very slow to pull up info. I've been trying to change something online to no avail. So I called them, only for them to tell me they needed a "verbal" passcode that I assume at some point provided them (?). The first person I spoke with said it would be a couple of hours for the request to delete was "processed", when I called back later the second person said 3 hours and then when I called back again a third person said 24-48 hours. (??)

The customer service rep just told me their IT department doesn’t work weekends and can’t fix their app (won’t deposit checks) until Monday when the staff come to work. What kind of organization has a major functional issue and doesn’t have it fixed before three days have passed???? Not one that I can count on, that’s for sure.

Penfed is the worst checking account, transactions are slow, just deposited a check that will take 5 days for availability. The absolute slowest bank or credit union mobile check deposit there is, come on it's 2022.

For 40 years PenFed was my “go to” lender. After negotiating a loan & term online, drove 60 miles to pick up check & they had changed the interest rate & electronically “forged” my signature on forms.

Penfed Credit Union allows customers to initiate a Non-Fraud Card Dispute process on a credit card transaction. However, they do not take any action and the dispute is always closed in favor of the merchant. They say that they can only handle fraudulent transactions. I have never seen this behavior from a credit card company. Also, they miscalculate the statement balance and keep tacking interest charges and finance fees. I email their customer service ahead of time indicating the statement balance calculated by me based on the transactions for the previous statement cycle. I do not get any kind of confirmation. After I pay the balance, they add interest charges and finance fees.

I would caution anyone from ever using PenFed Credit Union for their Mortgage. Our initial call with the Loan Officer went great and they locked us in for 45 or 60 days at a rate lower than market value which appeared phenomenal. We put an offer in on a condo and PenFed claimed they may even be able to close in 25 days but guaranteed 30 days, which was great! Then the trouble began:

If I could give it no stars I would. Beware of their conditions! They take forever to close an account. It's been over two weeks and I still can't get my money. I have two cds with them and I need the money so I have to close two of them. They dont tell you that if you have to break it before the term, that you lose all interest and if it's over 365 days, you get charged not only all the dividends and interest you made but the amount that you would have made for the term of the cd money market so now it's eating into your principal! I had money transferred from another bank into their savings account and then opened a cd money market with it. Now I can't get my money back for 60 days until money has been transferred into an account with them for at least 60 days. I am fed up. Who does that. Beware!!! Everytime I call or send an email, I am told to wait another 10 business days. I am just warning all of you out there, do not put your money in Penfed!

I have been with PenFed for about 3-4 years, I always accounts in good standing, banking and savings, and I never missed any payments. All of a sudden I keep getting late charges from PenFed for payments that I ALWAYS made on time. The past few months every time I've made a payment I get a system error, but then eventually I get it to go through. Then when I go back the next month to make a payment on my credit card, the payment I made is gone, and I'm charged crazy fees, which equate to 4 x what my payment was. I'm curious to know how many other people have experienced the same thing for several months now. I can only imagine how much all of those fees add up to.

- In person was not very customer service like. Rude employee who assisted me in applying for an auto loan for used vehicle. - Today 20220505 I spoke with an employee on the phone about several questions with my pre-approval loan and she was rude as well. Not to mention that when I was asking about which APR I would select and what my payments would be for the used auto loan, she informed me that my loan was a new auto loan, and that my rates would be different.

As a Pentagon Federal customer for the better part of 20 years, it is startling that people that are obviously barely employable have access to financial information. The hoops and the nonsense and the button pushing and the waiting on hold is insane. It took me 45 minutes to get connected to a 'mortgage officer' and once I gave him all the information I never heard from him again. I emailed, I called, I emailed, I called.

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.

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.

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.

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.

I've had an account for over 20 years, and what I've found is that their app always has problems and $250 dollar checks take an entire week to clear. I don't know how anything takes a week to process in this day and age.

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!

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.

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...

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.

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.

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!!!!

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.

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.

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.

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.

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”.

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!

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!

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.

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.

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.

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!

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.

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.

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!!!

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!

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.

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.

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...

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.

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.

Over 5 months to get a simple refinance in which Pen Fed is already the mortgager. No one calls back. Suddenly added points to the loan- saying lock expired- and wants me to pay for their incompetence.

Penfed Credit Union was a great decision. Jeremy ** was our loan officer and if I could give 10 stars, I would. He was great and very helpful in the whole process. Not only did the rate beat every other rate, but Jeremy also took time to answer my texts, emails and calls to help walk me through every step of the process. He responds quickly to all of our questions and was a great help on each and every step of the entire process. I had an amazing and impressive customer experience because of Jeremy. Highly recommend Penfed and Jeremy in particular! Thanks to both!

Factual. Approved in 2 days on 10/06/20. As of 11/14/20, no funds have arrived. Multiple calls, I stopped the check 11/6 requested a replacement. They said sending Express mail. Still no check. Pmt due.

I applied for VA refinance of my home on June 8, 2020, and had my VA appraisal completed on June 16, 2020. On July 2, 2020, PENFED after advising my loan was approved advised they had everything to process my loan. I paid for my the appraisal and began asking for a closing date. The first excuse given by loan officer was that my loan was low priority because it was not under contract for a home sale. The second excuse given was that the loan officer takes 60-70 days to close a loan. Then I was told on September 16, 2020, my loan was sent to underwriting, this was relayed by the third loan processor assigned to my loan. Twenty seven days later the loan officer claimed the loan processor had completed my loan and it was ready for submission to underwriting.

Worst customer service ever had...Each day different stories from different people. They dont have any knowledge about what they are saying. I was reported ID theft numerous times for 2 credit card fraudulent charges but they never took serious about that. Now they are reported one more credit card opened in my name so total 3 cards (credit limit 90k..cant believe) now charged off and 2 previous cards they sold to UHG I LLC. Now I am facing legal issues for those cards' fraudulent charges because of Penfed's negligence not taking any action even after I reported ID theft, I am suffering now.. mentally, financially, emotionally and they screwed my credit file. They threatened me by calling to pay the cards even if I reported ID theft. They are irresponsible due to ID theft for those 2 cards they got paid by Insurance according to Penfed rep., but now they are denying what they told me.. STAY AWAY FROM THIS SCAMMER!

I had back to back BAD experiences with Penfed over the past months starting with their mortgage department. I just needed a final quote for the closing on our house 9/8/2020. The title company had sent them a request (with our signatures) more than 3 times, several weeks prior but no response. Long wait over 4 hrs and whoever answered cannot help me anyway. I was the one who actually solved the problem when I mentioned to the customer rep to guide me through the new mortgage system they touted on the phone while I was waiting for someone to answer. Lo and behold, the final quote was in a letter form along with instructions for the title company what to do. They need better training for these customer reps. She did not even offer to check the new system. By the way Penfed's new mortgage online system is excellent.

I only gave 1 star because there is not another option. Negative 5 stars would be fair. We refinanced our house and a month later, PenFed bought the Mortgage (I hate that this can happen without consent from us, but...). Before our first payment was due, we got a notice that we had an "escrow shortage" and needed to pay or have higher monthly payments, so I paid the shortage after taking several weeks to get in touch with someone. I was told our payments would be the amount listed on all the refinance paperwork since we had paid the shortage. The first payment we made has been the only payment that was the amount our mortgage paperwork states.

We applied for a mortgage on the 24th of July. It is now September 16 and we are in jeopardy of losing our sizeable deposit due to the terribly inefficient processing and managers at PenFed. We had a 45 day closing window and we were told that we were on track. Excellent credit and 26% loan to value. File sat around for 3 weeks before anyone looked at it. We asked all through the process if more info was needed. No, as no one had looked at the file. Email today stating that they are meticulously reviewing the file, which means that we are not closing due to PenFed taking on way too many applications. Run, run away from this credit union. Their emails are vague and do not answer the questions you ask. We will never deal with these folks again.. The company is not staffed well so applications sit around waiting, no matter how much you impress on them how timely this is for us. Absolutely terrible workflow and terribly inefficient.

If I could give PenFed negative stars I would and I recommend everyone choose any other lending institution than PenFed for their banking needs. PenFed has been the worst experience I’ve had with any company, and especially with any lending institution. When opening the account, the representative made multiple mistakes and asked for documentation that was previously provided multiple times. Further, the representative stated the process should only take two weeks and the process took well over six weeks to complete due to the representative’s delay and incompetence. I should’ve taken the representative’s incompetence as an indication of things to come, but I was a couple weeks into the process and I didn’t want to start over with another bank.

So we are in process on a new purchase home loan. One week after applying for loan, we finally get request to pay for appraisal. $490 paid same day. Now, 4 days later, we get notice that appraisal is $700. Unacceptable. The home is a brand new home, in a community 90% sold. It is selling at a price the developer is selling a new home at.

Opened account to buy used car - easy process and set up because it was automated online application. They DO have best rates on everything but if you can stay with the checking/cc side of finances you will be good. Avoid the mortgage department - financing or refinancing your home - absolute nightmare of ignorance and lack of professionalism: you will spend days waiting on the phone; if you leave a message you will never hear back from anyone. Save yourself the headache. Those agents must late their work or are paid to do nothing (since PenFed has no closing costs).

PenFed has continued to hit lows in all aspect of service on our mortgage -- right back to the application. Every month we pay a little extra as a principal only payment and EVERY MONTH they misappropriate the money. This has happened at least 9 of the last 12 months and EVERY TIME I have to spend hours on hold and wait weeks to get them to fix their errors. I send the payment in with "PRINCIPAL ONLY" written on the check, accompanied by a letter that says "PRINCIPAL ONLY" and every time they put money in escrow and double charge me interest for the month (since they've already taken interest out of my normal payment). EVERY MONTH I send it multiple emails, letters and wait on hold for 30-60 minutes (I'm not exaggerating) only to be told that they'll have to open a ticket for someone to look into it and then it takes days to weeks to get the money paid back to our principal. I HATE THIS COMPANY!!!!

First off, I currently have a used auto loan with PenFed. I have had the loan since 2017 for a truck I bought, and everything has been simple - until now. I applied for a loan on a classic car from 1971. The loan amount was about $16,000 after I paid for some in cash, and I was pre-approved right there on the spot. The car is a completely rebuilt classic with only 2,400 miles on the new engine and transmission. The car is in pristine condition.

I have been with PenFed for over 20 years, going back to when I was in the military. PenFed was a good deal 20 years ago but they have failed to keep up with the times. The first issue is PenFed is unable to deliver a functioning mobile app. This is no longer a luxury but a requirement. Paying bills using the mobile app works maybe 10% of the time and the app usually requires 2-3 restarts just to be able to view transactions. After complaining about this to the bank I was told to use the "web browser. It works fine". I know the web browser works fine - I want to use the mobile app that you gave me that doesn't work... I am tolerant of bugs in apps and that they take time to correct but this has been going on for 2 years. The app is garbage. Where does the $60 per year online bill-pay fee go?

I have never dealt with a bank as bad as this. The hold times on the phone are insane. They will fee you for ANYTHING and everything under the sun. Even if it's THEIR fault. The menu to even get to a live person is clunky and deliberately made to make it hard (they want you to use the automated system). I was so fed up with PenFed that I asked them to do a ACH transfer (ALL MY MONEY) to Chase.

My NRA card account was taken over by PenFed. The first bill I got from them said my payment was past due. I never carry a balance. Paid in full immediately online and submitted a complaint. Got call from their robot the next day with message to call. I called thinking they wanted to discuss my complaint. Nope, they said my account was delinquent and they wanted payment. I told them I paid in full yesterday. They argued about it. Finally after several minutes they were like "Oh, there it is, now I see it." No apologies, condescending tone, their auto pay options are so lacking compared to other cards I have. Like simply a selection to draft my account for statement balance.

Let me tell you something. This bank is living in the stone age. The customer service hours are terrible. The customer service representatives are not helpful. They accused me of fraud because I applied to open a joint account with my grandmother. They put my money on hold for a week and counting. They asked for extra information. I gave it to them and I'm still waiting to have access to MY money. They don't return phone calls. I also cannot bank in person or online! They blocked me from my own money. The moment I get my money back I will close every account with them. Never again.

Took at an auto loan at the bank. Everything started smoothly and suddenly that changed. I closed my checking and savings kept my low interest credit card. For some reasons the bank will not surrender my title.

I have had the worst experience in my life with PenFed's Mortgage process. First of all, it took them 4 months to complete my loan. This should of been a big sign, right! I could not get a response on the status of my loan via email or voicemail. Apparently everyone is in different States that you talk to. My loan was re-started by 2 loan officers because I guess the person doing my loan quit. Well, I finally got loan approval, however they included my Condo (personal) insurance in the loan. Condo HOA's pay the entire homeowners insurance for everyone and individual homeowner insurance is paid for by the individual. I pay this on my own. I called Penfed to take this off of my monthly invoice because I already pay this on my own. They told me over the phone to request this be removed from my impounds via email, which I have done 8 times. I have also sent them a letter in writing, still no response.

I cannot express how TERRIBLE THEIR Customer service has become, GOOD LUCK getting anything done by email or phone, and be prepared to be on hold for a long time when you call. The latest screw up, I was closing on a property and arranged a wire transfer. The wire department said all was good to go. Next day, I'm about to close on the property and I see the wire hasn't happened. Couldn't even get a simple wire transfer right. If you need to do anything more complex than a basic account creation, it will be hell on earth getting one. Perhaps it's not too difficult if you are actually in their office, but for someone who lives in Florida with no nearby branches, it's SO BAD, I will be leaving them as soon as I can get rid of my loan balances. They used to be awesome for military and government members. Maybe they have downsized with the internet and cut personnel or new management, who knows, but I'm so fed up with them.

Been a member for 6 years. Completed a mortgage app online and called several times and no one will call me back to help with a preapproval. Guess this place is very relaxed and not hungry for business. I mean what bank or lender doesn't want a mortgage loan. These people must not be paid on commission and their livelihood doesn't depend on actually working and providing good service. You call and all they say is, "Let me take your number and someone will call you back." They never do.

Disappointing Phone Service. After over 25 years as a customer I can no longer recommend this bank. Unless you want to run a digital nightmare (being dropped after being told to wait for a representative, giving information electronically then being dropped) trying to get a phone call through, this is not the bank to deal with.

I have been a PenFed member for over 25 years, they used to be a very good credit union but within the past five or so years I have experienced a declining customer service experience and an overall decline in competency. My reason for writing this review is in regards to a recent international wire transfer and the failure of PenFed to make the transfer.

Had an question with my mortgage payment and while the service member didn't know an immediate answer, they did some quick research and made some helpful suggestions to resolve the problem. I felt like they were genuine and wanted to help vs. transfer me to person after person to resolve the issue.

Our Family have all been PenFed members for years. While not the best, customer service which seems to be contracted out is absolutely horrible. Not to mention accounts have many fees assessed. Their website & app are so outdated. They don’t have Zelle or any instant transfer options to others. They hire Andrea McCarren to head a marketing campaign “PenFed Digital” yet their back office backbone IT system is like a dinosaur from 1990s. They say they help Veterans, yet reviews by Veterans, especially those deployed, who also have been PenFed members for years, of how badly Veterans are treated by poor inept customer service Representatives. Fees assessed can’t be waived until you hang up & call again & maybe get someone that understands & will reverse.

Opened and account and applied for a HELOC online. Never got a response other than an email stating that if I wanted information about their HELOCs to call PENFED toll free number. I called 3 days in a row trying to find out what the status of my application is to no avail.. Every time I called I'm told someone will get back to me, yet I have yet to receive a call.

They are the worst.... I looking to close my accounts. On hold for hours. They are condescending and rude.... They try and control you after they are the ones that caused the anger. Can't even make a payment or get information without getting angry.

A single start is too good for this awful credit union. Loyal member since 2013. Recently acquired about a checking account. Got a run-around, different stories, and lousy customer service. I am not sure why I even bothered because this credit union has been problematic before. Even with an 800 credit score. With so many other institutions competing for your business. Look elsewhere.

I called Pended to initiate a domestic wire to another bank in my name. This call was placed on the morning of Dec 4th. The representative assured me that the wire transfer would go through after verification of all the information. Later that day, close to evening, I checked my account to learn that the money was still in my account. I called Penfed & after speaking to a representative, I was told to hold. After 10 mins of holding, the phone disconnected. I called again. Spoke to a representative & again placed on another hold. A few mins later, I was told that the wire should be going through any time now & to be on the lookout for it. I continued checking the rest of the evening & the money was still in my account.

I have had an account with PenFed for several years. Last year, due to a divorce, I was forced to file bankruptcy. When that happened, without warning, PenFed cut off access to my DEBIT CARD on my checking and savings account IN GOOD STANDING with them. I immediately stopped all direct deposits going into this account and figured I'd just wait until my bankruptcy was finalized.

I joined in 2013 because they had the best deal on an auto loan. Very smooth experience. Since then I have a credit card, checking and savings account. Also a very good experience. I use their credit card overseas because they don't charge a foreign transaction fee.

Well this bank tops the charts for the worst customer service I have ever received in my life. One star does cover it. Waited about a month for a replacement debit card as I watch my cash sit in a bank I can’t access. There should be laws against this. Think twice before using this bank. You’ll be talking to them about problems more than you’d like.

For three days straight I have called PenFed Credit Union to get information on a HELOC Program and each time I am told that all the loan officers are busy and because my call is important they will forward my information on to the mortgage department and they will call me back as soon as possible. In three days I have yet to receive a call from any mortgage officer.

Pentagon Federal Credit Union has changed for the worse. The customer service of simply deplorable!!! They’re extremely rude, and insensitive to the customer needs. I’ve been calling for two weeks to determine why they’re NOT receiving my loan payments from my banking institution. However they’re the least helpful! My banking institution shows paid but of course PenFed can’t assist; they have various PO Boxes so maybe some of the issues are the damn boxes. My loan will not be into week three showing LATE and more than likely they’ll send out to the credit report. I’m in tears dealing with PenFed and I’m working to loans from them to my other credit union in an effort to continue holding a very good credit rating. I’m working on a story trying to sale it to the media who will hopefully investigate this institution; it should be CLOSED PERMANENTLY!

I am moving back to the US from an overseas assignment. Got my orders, ready to purchase new car and potentially a new home. In order to check rates and potentially use PFCU, I applied for their membership. They state they will do a "credit check" to open a membership (just like other banks); however, they do NOT clarify that it is a HARD PULL. Every other bank I have dealt with (USAA, NFCU, BOA, CHASE, etc) DO NOT do hard pulls to join their bank. I DID NOT apply for any of PFCU's loans. I called their customer service rep and her supervisor, and the explanation they gave me was that it was a requirement by the Patriot Act. What a Joke. No other bank does it but they are required to do so? So, thanks to them, now I will potentially lose lots of money for having a horrible APR with multiple hits on my credit. Thanks for serving your customer base Pentagon Federal Credit Union. You should be ashamed of yourself.

I applied for Pen Fed credit card with 0%, to move some balances from my other card (already have one - it was application for second card), my credit is a little down due to some balances, so I got declined, oh well I understand. A few days later I recieved a 25.000 check in the mail from Pen Fed. (Here take it. Pay down cards.) It was a great response from Pen Fed, even though I have to pay interest and it is not too low, but I got all my debt in one and my credit will be up because loans don't affect your debt on the credit as much as credit cards, so as soon as it goes up, I'll have doors open for many options how to save money, refinance and have not much debt.

In the 1990s I was 20 years old in the Army and opened a PFCU account since they were there in the building I worked in Northern Va near the Pentagon. This was literally the worst experience ever. I requested a car loan to take advantage of the good loan rates, they quickly denied it and said I did not have enough credit. So I got a new car and the loan through the dealership which was nearly triple the loan APR. I paid on this loan with no late payments for two years. I also had a Good Year credit card and paid off a 1000 general purpose loan I use to buy a PC to help with my college work. So then I was 22 and felt proud of the credit I had built up with 0 loans from PFCU.

I took a vacation to Iceland this weekend to celebrate 20 years of service in the Department of Defense. I served in the Army and Navy and now Civil Service. I forgot to do the travel notice but I thought I could just call the bank when I landed. I tried all the numbers on the back of my card and to shorten the story none of them worked. I email the bank 8 times because every response gave me a 1-866 number that only allows to do the online services but none lets you do an on the spot travel notification or unblock your credit card due to using in Iceland.

Terrible interest rates. No one there cares about anything. Disorganized, poor customer service. IRA department cares nothing about your account. I just transferred a IRA CD that matured and they send to the other institution in just a regular envelope. Not an e-mail to me, as to what they have done. No calls, no letters, nothing. Like I didn’t exist. Nasty people in IRA department. Biggest mistake I ever made getting involved with them. I have lost thousands. I recommend stay away from them.

I would give People need 5 stars for customer service and varied choice of savings and CD accounts and they offer competitive (usually higher than most on line banks) CD 6 months and 1 year rates.

Their support people were great on the phone but then failed to help and follow through on requests on several occasions. It has been next to impossible to get my IRA transferred after 6 weeks of trying..

Don't buy GAP insurance with these guys. You will never get it back partially if you pay your loan off early. Most companies and banks will refund your money when loan is paid off earlier than its original term. These guys Won't after 60 days from original loan date. They will also charge you High interests and insurance Fees if you drop full insurance coverage even if you are not using your car. Stay away if you like headaches. They are a Pain to deal with. Better off with a normal Bank.

You sign in for service other than teller service. However, there’s no REASON FOR VISIT or ARRIVAL TIME on the sheet.... That’s your first clue they are not customer focused. No door on the offices, so we sat in the lobby area listening to an old man giving someone on a speakerphone his personal data. We heard clearly the entire conversation between the two.

A longtime ardently loyal Penfed customer with 824+, pays cards in full often early each month, never missed any payments due even while on extended distracting trips abroad, yet yesterday & today decided to end a multi-decades primary banking use of this deteriorated institution. Their seemingly backhanded hidden unilateral profit-squeezing actions from, what I firmly believe in my firsthand accounts, the staffing of untrained, incompetent, at least twice outright lying or grossly fabricated & inconsistent query responses by supervisory level staff, has finally pushed me to not hold any sense of trust or honesty in their operations or my fiscal holdings.

Today, my using PFCU for most of my banking needs has stopped!! First let me state that I have been with PFCU for over "40 years" -- yes, that's right -- 40 years!! Now, in those 40 years I have bought homes, new cars, new boats, vacations and etc.... I always pay off the balance of these charge cards in 30 days and maybe 60 days -- sometimes. My credit score is right at 800. I am taking my granddaughter to Disney in September. I have two Visa credit cards with them. One has a limit of $16,000 the other has a $9,300. I want to use the $9,300 card for the trip. So, I called to extend the limit on the card to $16,000 -- just like the other one. We are only talking about $6,700 more?

A long time customer with PenFed and holder of my mortgage. I was given an opportunity, I thought, to do a few upgrades on a low interest Signature loan. Now I’ve never been late on anything in my life and have a FICA score near 800. They approved my request for $5000 dollars only. I agreed to an ACH for to have payments made from another credit union checking and deposit the check to the same account. I found out the loan was approved by looking at my online account and finding a deficit of $5,000 ready to receive payments. I then found out online they had attached an interest rate of 14.99 percent. More than twice of what I was expecting and never called to see if I approved of the higher rate.

Cd's have changed. I will pay one year's penalty for breaking a long term cd, but not a penny more. They have also made the penalty complex to figure out without a calculator. I don't think they offer the 5% cashback card on gas anymore. I expect a letter in the mail telling me the card has been canceled. PenFed has become useless for me. It's changed. Hope it's easier to close the account than to open it. I'll likely just leave the $5 in there till the end of time. I hope I don't have to fax a copy of my SS card, dr. lic, and mother's CT scan.

I've been a customer for over 15 years, first with Belvoir Federal Credit Union and then with Penfed after they acquired BFCU. I applied for an auto loan and was rejected. My credit score isn't the greatest, but it's far from bad and I don't have a lot of outstanding debt. "Penfed's got great rates for everyone"? I call BS. Everyone with impeccable credit, maybe. At the very least I expected to be approved at a higher interest rate. Had to go through the dealer. I'll be shopping around for another bank very soon.

As a long time member with almost $40000 of my money in accounts, I received a letter with a offer for a personal loan with an interest rate of 6.49%. I decided to deposit the check that came attached. A few days later I received a package with documents to sign with a totally different interest rate. Called customer service. Was told to sign those documents ASAP. I informed them that I was not signing something that wasn’t agreed! Shame on them. Should I seek legal advice?

I applied for a mortgage online and indicated that I wanted to be part of the real estate rewards program. I used the real estate agent PenFed linked me to as it is a requirement of the rewards program. I received very poor communication and customer service from my loan officer Blake **. He kept asking us for documents we had already provided him, was unable to answer questions we had and was VERY slow at responding to emails and calls. On closing day of our loan, I contacted him and asked when and how we would be received the real estate reward. He replied "I didn't know you were in the rewards program." I informed him that it was indicated on our loan application. Then he told us, "Well you didn't use the real estate agent we linked you to." Once again, I proved to him we did use the real estate agent that PenFed linked us to.

I transferred money to PenFed to apply for a credit card. After 6 days, two phone calls, two emails, PenFed customer service finally requested hard copies of Gov't issued ID. Home Depot issued me a credit card while I was standing in line at the register. I am a former customer since I canceled the application and requested a refund of my deposit. After some internet searching I discovered their reward points are not equal to other cards and there are redemption charges.

I've been a long time happy PenFed Checking customer that would have given them 5 Stars on every website under every category. Today that all ended today. I had an NSF on a small ACH transfer. I immediately the same day went into to a local branch and deposited $400 cash to cover my error. I never even complained about the $30 NSF fee. Now, any check I deposit shows as unavailable funds for 9 business days. I'm just waiting for my last deposit to go out of unavailable status and I will close my account including my mother's large account that contains her retirement funds. I spoke with several customer service reps to fix the 9 business day hold, but they all concur in different language that their security department feels they don't need to do anything to keep customers. That's just bad business.

I am extremely dissatisfied with the PenFed organization. Attempting to pay off my auto loan, I called them no less than 5 times to ensure the payment transaction went smoothly. Each time, I received different, and erroneous, information causing me to still not have a lien release. I was led to believe the release process would happen quickly.

First, I opened an account for my husband who lived out of the country until he got his Visa to US in 2017. At that time, he had no SS but a Tax ID no. Fast forward, I took him to get his SSN as soon as he came to US. We both sat down with a representative at the Pentagon City Branch at that time and money. Now, my husband took me off the joint account, and it was done so without my permission but PenFed did not accept responsibility for same. This should not have ever happened without my permission. It is a joint account. It didn't matter 'cause my money was taken out once he got direct deposit, but it's the principle. Moreover, they made him fill out more paperwork since he took me off and tried to tell him that his name was not coming up with the SSN that he received from the Social Security Administration and hence, they froze his direct deposit leaving him with no money for a couple of weeks!

I have been a PenFed member since 1973, over 45 yrs. I am in the process of closing out each of my CD's, credit cards and my mortgage to leave PedFed as soon as possible. What was the final straw? As an older retiree, I use CD's for safe, stable savings. In Sep 15, PenFed's board, seeing rising interest rates in the future, changed the early redemption penalty on CD's from the industry standard forfeiture of a max of 1 yr's interest to an punitive seizure of all interest earned. They seize 60% of the total the CD WOULD HAVE EARNED if held to maturity. That would be every cent of interest earned till approx 3.5yrs on a 5 yr CD.

“BE WARE DO NOT BE DECEIVED BY THE LOW APR AND SWEET TALK DURING APPLICATION PROCESS”. 1, Customer service: they all have one answer for the entire Question? "We can’t provide that information at this time". 2, Managers never available and by chance you get them they will also have The same answer which is “we can’t provide that information at this time”. 3, Managers or the customer service people will not bring the credit reporting Department on line and they will simply use any excuses they can’t to waste your time until you disconnected the line.

They have been approved transaction that I have nothing to do with it. I have give them a police report, they're telling me my money will be refunded to my account. This was from 2018 and I'm still waiting for someone to respond to my email or phone call. No one do anything for clarifying that issue, they pass the ball one to another. No one has explained to me how my account was negative more than 2,000 dollar from a debit card without a Visa or Mastercard logo. This card was used just for ATM machine and my balance was just 1,200 in that time. Now I'm paying back 4,800 in a negative balance and I'm still waiting for them to give me an explanation.

Tried several times to reach a representative on the phone. Wait time 20-30 minutes each time. I also emailed my frustration along with my contact information. I received an email reply that “a representative would be contacting you shortly“. Three days later, still have not been contacted by PenFed Representative. Very bad “Customer Service”! I was trying to open an account but, I will not trust an institution like this with my hard earned money. I travel a lot, I’m very fortunate I found out how bad PenFed is while I’m still stateside. I will definitely look elsewhere. Only reason for 1 star is you must add a rating. “0” would be my official rating.

Holy crap. They make it hard! Short version is they wouldn't accept my application online. Kept telling me the issue was fixed. Finally bothered to look into it, then told me I needed to apply via paper but never would answer my question about why, even when I told them the "why" would determine whether it was worth my time. Yeah, it definitely wasn't. Crappy customer service.

My parents have an account with PenFed. A joint account. My mother passed away last month. My father told them about my mother's passing so they froze the account. His retirement and social security are deposited in this account. Isn't a joint account jointly owned? When my father told me of this today and I am furious. I feel this is an illegal maneuver by PenFed and just plain bad form. I told my father to call the State he lives in and file a complaint with the State Attorney. PenFed, you just might be fined for your actions. Shame on you. My father is 81 years old.

PenFed is very difficult to work with. They screwed me out of points on a new credit card promotion. And you can never talk with someone. They only will email you. Very disappointing experience. Not happy with their customer service.

Absolutely the worst experience in my life dealing with anything related to a mortgage or loan. After applying for a home equity loan and being harassed to supply documents that I've already given them and explained things over and over again, for days on end, they just keep asking for more of the same documents and for me compile more letters of explanation for everything under the sun. After more days of frustration, I gladly withdrew my application. I do not recommend Pentagon Federal Credit Union for anything.

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!

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.

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!

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.

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!

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.

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!

I requested a wire transfer of funds out of my account to my local bank account. Gave the person all of the information they needed - was told it was all set. Waited, waited, waited - funds never arrived. I call them back, and they have a record of me talking to someone, but NO RECORD OF MONIES MOVED, THE WIRE REQUESTED, OR RECORD OF WHO THE PERSON ON THEIR SIDE WAS!!! Could you imagine if one of their employees wants to commit a fraud with someone while on the phone with them?!?! They wouldn't know who it is!!! Tried to speak with someone of importance and was told they don't come in UNTIL 10AM (truly bankers hours). Then called back to speak to the president of the Credit Union, and they hung up on me!! Has to be the worst and least secure customer service I have EVER dealt with!!!

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.

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.

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.

I've been with PFCU since the mid-90s; over 20 years. During that time, I have had 3 car loans and 2 mortgages with them - the rates are very competitive with cut-rate lenders who provide little or no service. PFCU Customer Service has always been there when I needed them, and never had an issue with account lockouts, etc., as described by other folks. Being the largest credit union in the world has advantages, too. Never had a problem accessing and using my PFCU cards and accounts overseas, and the exchange rate is better than what I could get with the money exchangers. Unless things change dramatically, I will continue to use PFCU as my primary financial institution. BTW - the PFCU website is very easy to use for billing paying, account information, requesting loans, and seeing what products PFCU offers.

I have had multiple problems with the Pentagon Federal Credit Union and have experience terrible customer service while trying to resolve them. The last problem involved the bill payment service that resulted in a late fee because the credit union customer service could not resolve the problem. I spoke with five different people in two days and finally paid the bill with a credit card and I am closing the accounts I opened with Pentagon Federal. I do not recommend this credit union.

I was harassed by a female customer care representative, she felt personal about my account and notarized copies of my documents. Just got my account opened few months ago. I am in Delaware on a trip. I used my atm debit card multiple times and in that effect I my card was locked which is weird to me, I even got an automated call from PenFed asking me if I authorized the withdrawal on my card and I said yes. I called PenFed and asked about my locked atm debit card and I was told I needed to send in some notarized copies of my ID's and utility bill which I did, I called back some hours later to know if they got the documents and some lady harassed me saying I don’t own the account, she was a ** on the phone and she even called back to harass me the more which sounded weird. I am still in shock right now if this is the way they treat their customer. I need and demand an apology and my card unlocked. Thanks.

Horrible customer service on the phone, got impatient and hung up. Kept putting me on hold without telling me she was putting me on hold. Very upset with the way they handle customers through the phone. Impatient and rude, I don’t recommend even trying to apply here. It’s not worth anything.

I've been with them for years. Any problems were taken care of immediately. Like their military 2% cash back on their Credit Card. Got rapid pre-approval on a potential car loan. Will have my daughter, who just graduated from USAF Basic Training, join.

I have been a member of PenFed for several years and service over the phone nearly always been good (one exception was a car loan and an estate account that I will not bother to go into except to say PenFed will tell you one thing and then when it's crunch time says "we didn't say that.") Most recently I submitted a payoff request for a personal loan when I had the funds to pay it off. I noticed on the online provided payoff that it included an amount for credit insurance. I did not want credit insurance when I opened the loan and I did not sign the line to accept it on the promissory note.

I am a US Veteran with a major health related disability. I have had a long relationship with PenFed; close to 20 years. The last 6 months I have been struggling financially due to several unforeseen circumstances and PenFed has went to town on me in unpaid overdraft fees, nearly $400. I have been rebated once, which I am grateful for even though I was given a hard time about it. The fees are excessive and have made my already difficult situation more frustrating. I had money in another account but they never cared enough to call or do a courtesy transfer. I Called 1-800-247-5626 today but I waited over 30+ minutes only to get disconnected; see pic below. Very disappointed! "Our long-standing mission has been to provide superior financial services in a cost-effective manner, while being responsive to members’ needs." Far from superior. Effectively places the cost on their members/customers. Barely responsive.

I opened an account with $5. They gave me a tiny credit limit with a $500 credit score. After 2 months I asked for an increase. They asked for my tax returns. Within 1 hour they offered me a $20000 limit and now I keep $30000 in 2 accounts with them that pay more interest than most 1 year CDs. They also have great mortgage rates. My plan is to use them for my mortgage. I have never had a problem with them.

I only created this account to write this review. Reason being, I just accidentally stumbled over a web link that showed review after review of negative comments or ratings towards my bank PenFed. I am shocked and amazed. About me: I am a retired disabled Veteran. I've served in two wars and would go to a third one if my country called on me.

I called to have money transferred from my Wells Fargo acct to Pen Fed. After a week and payment had not came out of Wells Fargo I called Pen Fed and the CSR stated that the last person doing my transaction had transposed a number. At this time the rep says I will refund late fee and do transaction again. Well he refunded late fee after trashing his co-worker but failed to post payment again. After calling 5 times and holding for over 30 minutes each time we got payment resolved. Then they put a manual hold on dep that had returned in their error and caused another return. Worse place I have ever done business with. Closing acct today!!!

Purchased a new truck and had it financed with PenFed due to the low interest rate. I finally received a statement online to pay my first payment, however it does not have an account number or address. I managed to get one person on the phone after calling for nearly a week and they could not discuss my account without a pin. They mailed me a PIN number to use when I call. Now I have the pin and can't get anyone on the phone to get my "member" number so I can pay by car payment. My payment will most likely be past due by the time I get someone back on the phone. I also emailed about 2 weeks ago and have yet to receive a reply. This is a joke!!! Will never be using them again for anything!

During the past four months, I have been dealing with PenFed on a refinance, line of credit and making a wire transfer. First it is very difficult to reach PenFed and at times even the main line is busy. If you get though, it can take 10 to 20 minutes to reach a representative. The mortgage representative was very good and after about 100 emails over two months, the mortgage was approved May 11, 2017. However, the process was very, very cumbersome. I then applied for a small line of credit. This was a horrible process. PenFed had all of my documentation from the mortgage application but kept requesting documentation they already had over and over. It is now June 19, 2017 and it still has not been approved.

I was on the phone with PFCU for approximately 35 minutes try to get a skip pay. The first lady I talked passed me on to someone else. The next person I talked has me on the hold for approximately 10 minutes the first? Then put me on hold for another 5 minutes and then she passed me on to someone else. Then this lady had me on the phone for a while telling me I was close too on the date and she needs to talk to someone else, I stop her right there. The skip pay was for only 148.00. They has no problem in the past. I have been with PFCU for 33 years and this has never happen. Very dissatisfied!

From day one I've been dealing with a lady by the name of Judy **. It's hard for her to answer any of my questions. She tell me one then days later it's something different. All I'm trying to do is understand what I'm doing, the type of mortgage I'm getting & the amount I need to finance with my down payment & she can't do that. She had the nerve to tell me ("I have 40 another customers I'm dealing with,") like my money & credit isn't good enough & don't matter. Really??? Maybe mortgage loan people or dealing with too many customers at one time. Not fair to the next person like me??? Supposed to be a great experience buying a house. Not this one, the worst. This not my first buying a home this my first financing one... This company will lose a lot of business because of nasty attitude & being rude to the customers. That's not how a company support to do business. My first & last time dealing PenFed for anything.

Pentagon Federal closed my credit card when I was not late, and was paying on time. They said it was because my credit rating had fallen, and they had no information about what they were talking about.

PenFed is described as very bad business. My experience with PenFed Credit Union was awful, unprofessional, several lost documents, given incorrect fax numbers and nothing but lies told to me...many apologies. I would never ever recommend this credit union. They recommend that I apply with joint and then faxed documents more than three times as well as emailed twice as many... Still couldn't locate documents then get e-mail from chief executive officer K.L. Myers stating that we need certain documents. I called to find out the decision wasn't good but all this time wasted on sending document after document for eight days when it only takes 24 to 48 hours for a decision... LETS JUST SAY PFCU IS BAD NEWS TO DO BUSINESS WITH AND I'M GLAD TO KNOW NOT TO GIVE THEM MY BUSINESS! Even after I've been told a decision I'm still receiving emails saying my application is still being processed...lol. Worst Credit Union ever. - RISING INVESTOR

Retired, my wife and I have credit scores over 800. Minimum debt. Applied for pre-approval. Complied with all paperwork requirements and offered to withdraw more money monthly from savings to boost income if necessary, as we are able to live off little and leave our retirement funds alone. Told to just reduce loan amount request. Offered to put down 50% of purchase price. Denied! Then the clown asks, didn't I say I could increase my income? He resubmitted but I was told too much time had elapsed. Lesson learned - Don't conduct important business with near minimum wage call center employees or businesses that would ask you to.

For the past 1 and 1/2 hour I dialed 8002475626 in vain. First is busy and then automatically cut off after few rings. Though I have in the past accomplished much when a representative talked to me, ** trying to call to no avail overshadows past good experience. TEAM PenFed: wake up your employees! Yes... 800 numbers can be busy but one and half hour is unacceptable! Never been so frustrated... And I sent an email, still no answer.

In January 2008, my husband and I bought what was to be our retirement home. In May we refinanced our primary residence to get some equity out. In August my husband died. I kept up with the mortgage payments on both homes until 2010 when I decided I had to let the retirement home go. After having the house on the market for a year with no offers, I asked PenFed for a Deed In Lieu (a quit claim deed in lieu of foreclosure). They denied my request. When they had difficulty in the title search as part of the foreclosure process, they had the audacity to ask for my help, which would have meant hiring (and paying) an attorney. I said no. They said that if I did, they would "reconsider" my request for a deed in lieu. Notice reconsider, not approve. I declined.

I became a member with PENFED back on or about October 10. I opened one checking account, one saving, a car loan and a credit card. I setup my account to receive my payroll from the place I just to worked. On or about November 10 I receive a phone call from their fraud department a guys name "Alex" unprofessional person. Starting asking questions that how get my money from the place I worked? I explain him my fund are the works I was done. Then Alex stated that he is going to returning all my fund back to the payroll services, but I did not agree on that two days later I received a letter stated that everything was resolved in my favor. But the following day the Alex disregarded the letter from his own coworker and returned the money back. Since that day all became personal from Alex.

The experience setting up a new account is completely insane. You won't be able to transfer money in online for 6 months. Transfers in are restricted to $50 which you have to do over the phone and you're not able to create a checking account either. On top of this asinine situation which you're stuck with for 6 months, their website and app experience are absolutely terrible as well. The worst part is that NONE of this is disclosed upfront. Wouldn't touch this steaming pile of garbage with a 10 ft pole.

Wasted two months trying to get a mortgage with this company. Lost my paperwork once. Forgot about me completely and changed the closing date three times. I finally cancelled the application. I have perfect credit and was refinancing a VA loan which is a very simple process except with Penfed. I had to open a savings account with them to get the loan and I am now trying to get my five dollars back and close the account. Fortunately I did not deposit more money with them because I just found out that their maximum withdrawal amount per day is fifty dollars! This company is the worst ever.

I have been a member of this CU for over 30 years and have finally decided to sever ties because they now could care less about Military Service Members or their families. I used this institution for 3 mortgages. Over those years and have sizable deposits including IRAs and am treated like a felon by these people. I just helped my daughter process a preliminary re-finance with both Penfed and Navy FCU. NFCU was helpful throughout the process and PenFed was atrocious. NFCU has no origination fees, $0.00 while PenFed charged $3562.50. That was enough to withdraw the application but PenFed had another surprise.

I have been a loyal PenFed saving account and credit card member for over 10 years. About a month ago, I applied, attempted for the first time to apply for one of the loan programs they're always emailing me about. I did an online application for a somewhat small home equity loan. It was the worst experience I've ever had with a bank.

Your company is very incompetent and should not be in the mortgage lending business. You lack time management skills. There is no sense of urgency to get things done. They were constantly changing the closing date. The amount to bring to closing was changed over 4 times. The supervisor, underwriter, and the loan processor did not know what they were doing. The underwriter was constantly asking us for the same information that we had already sent, and she also do the same thing to my husband's former employer. Finally, on the day before the closing, they cancelled it because they said we needed flood insurance which we did not due to the fact that the HOA already has flood insurance on the entire subdivision. I will never ever get a mortgage with this company again.

What on earth happened to this formerly great financial institution? As a veteran and member for over 40 years, I have watched this organization become one of the most customer-unfriendly financial organizations currently operating. Last week I decided to contribute money to my annual ROTH IRA; however, because there is an annual limit I needed to know if and/or how much I have contributed to Pen Fed in a ROTH for 2016. Unlike most banks, this information is not readily available on the PFCU website. So I contacted "customer service". Their reply, "We don't have that information now but will get back to you. One week later: no response. The moral of the story: INVEST MY ROTH $$ ELSEWHERE!

I have been a member of Pentagon Federal Credit Union since 1988. It wasn't until I made a loan against funds in my account that I had a problem. I set my payments up on auto pay. This was in 2014, since then I have late payments charged to my account repeatedly. Not to mention the phone calls over and over telling me my payment is late. The payment should come out of my account automatically. I'm writing this review for two reasons: 1. Now they say they have no record of the auto pay I setup. 2. FYI PenFed has a B rating on BBB. PLEASE WRITE A COMPLAINT ON BBB.

I could write pages about the horrible customer service provided by the PenFed lending department, but I'll just summarize and affirm that my experiences were right in line with other negative reviews here. I have email records of all this nonsense and how paperwork was sat on for nearly a month without being opened or looked at whatsoever.

I regret not reading the Consumer Affairs complaints about PenFed mortgage process. All the complaints I've read are spot on. My anticipated closing today, 5/6/2016, was completely blown off as my loan processor went on leave without ever letting me know and had dropped the ball. My calls to her supervisor finally got the ball rolling and I'm expected to close on 5/11. Unfortunately, I'm scheduled to fly back home 5/12. This leaves me no time to take over the utilities from the developer and various other things I needed to do requiring the closing docs. I specifically flew in since 4/27 to Las Vegas, in anticipation of closing 5/6. Now, I'm left with no choice but to extend my hotel stay (additional $450 in lodging), and pay $250 change fee to change my return airfare ticket. As I read through the comments, I am really appealed that PenFed high ups have not addressed to improve their service.

I'm sick of them wasting my time, so I'll just copy here the post I wrote for Yelp: This organization is horrific! There is no single interaction with their customer service that went even somewhat satisfactory for the more than 10 times I had to deal with their CS. They might be a good lender or money manager (even though there is no substantial evidence for that either) but they are horrific in dealing with issues. They will tell you things like: well, if we don't do what you asked us for, give us a call in few weeks. And that often does not help either! They will also say things like: well you send us that document by email twice and by mail too, but we can't find it now and don't have the time to look for it, so please go prepare those documents again and send it again, by mail and email.

I wrote this in error. I believed that penfed was at fault, but it turns out that mercer did not inform me that their actions were different then what I requested. This made me believe that penfed was not doing a good job. Penfed acted properly and efficiently in retrospect and everything is fine now that I corrected everything at mercer.

Avoid home financing of any kind. Incredibly inefficient. Delayed closing. Extremely poor at returning phone calls and emails. Loan officer was constantly losing paperwork. If you fax them documents or mail them they will lose it. You have to email them. Then if you're lucky they'll actually put it in their system. Multiple times I had to resend the same information. I swear I don't think they worked on it at all unless I was directly on the phone with them while they were doing it. Very short and they always acted put out and was rude if I asked them for anything even including updates or inquiries or asking if they received the info I faxed and emailed.

Purchased third house so two prior purchase experiences and multiple refis and home equity loan experiences and been working in mortgage lending for over 10 yrs. This was by far the worst experience ever. THE DAY OF THE CLOSING WE WERE TOLD THAT DTI WAS TOO HIGH AND CLOSING WAS NOT GOING TO HAPPEN. Spoke with the loan originator and loan processor multiple times and advised that for a $580K+ house T&I could not be less than $100. But their answer was that they had been working in mortgages for over 10 yrs and knew what they were doing.

I've applied for and received 2 car loans with PenFed online with no issues. I recently applied for a mortgage loan to refinance my home and the process was by far the worst (and most expensive!) of all the companies I contacted. I submitted an application for a loan around 11:30AM on a Monday. There was an electronic disclaimer regarding an application/credit report fee. No problem... Navy Federal had the same thing and it was $12. The other 4 companies I applied with had ZERO application/credit report fees.

How is it possible that a simple refinance takes 3 months?! I don't know, but it almost must take more effort to be as bad as the exhibited performance as to provide a satisfactory experience. I needed a refinance of my primary residence. My credit score is 800, ample of assets and income. Straightforward you think! It took over 30+ emails and over 40 calls to PenFed, mostly of which ended up either in a voicemail box or with an overworked switchboard operator. The responses were slow, often requiring the services of a "Resolution Coordinator". A timeline of all the events would require a small book! One example: Monday, I call to try resolve an issue with our Home Owner Association. I am told, "We will take care of it..." On Friday, I follow up to be told they cannot do, I need to do it myself. One week wasted! And so it goes on and on...

My father is a retired USAF Colonel and highly decorated Vietnam combat vet with late stage Parkinson's connected to Agent Orange who requires 24 hour care at a VA nursing home. He is past Commander of the Legion of Valor, an organization consisting of only Medal of Honor, Navy Cross, Air Force Cross and the Army Distinguished Service Cross recipients. Of the 625,000 veterans in the North Texas region, there are only 8 members.

I apply for an Equity loan. The worst experience I ever had. I have multiple loans and multiple properties with other banks. Pentagon Federal Credit Union please train your underwriters to use all the info they have in their folders. Wow. It's funny how banks try to do business in a field that they don't know what they are doing.

I purchased a home using PenFed mortgage products with the PenFed Real Estate Rewards program with offered discounted closing costs and no origination fee. I closed in September 2015. My overall rating for PenFed is 9.0/10. Here are the details from start to finish of my interaction with PenFed. In May I used the link, https://www.PenFed.org/Real-Estate-Rewards-Contact/, to sign up for the program. Simultaneously, I also applied for the loan.

Can't create an account if you're not in a state the bank is in. You comply with legal requirements and they make you jump through more hoops. They do not comply with Section 326 of the USA PATRIOT Act. Representatives state that a color fax must be sent. There is no requirement in Section 326 for a color ID. There is no fax capable of color!

Their mortgage department is the worst I have ever seen. It's hard to imagine that this is a CU established for the benefit of soldiers and government workers. They are rude to the point of being arrogant. They are borderline criminal. They order appraisals without your knowledge and then try and get you to stop the loan process while keeping the appraisal fee. SMH.

I am a First Time Home buyer working with Penfed Credit Union Mortgage. During initial interaction they promptly answer to all your questions. Once your application is created then they show their true identity, especially Baltimore Maryland team Marie & her team. They are completely incompetent and unprofessional. Their third party APPRAISAL company is full of rogues. They work for PFCU and trap the conventional loan buyers. My appraisal report has full of errors and issues.

I submitted an application, with 2 years of tax returns (which most banks require). I was told that they had not asked for them, now they need supporting documentation. I then provided all the other items they requested. Then, I was told, they don't have the return to go with the supporting documentation that they had requested. Huh?

I started 7 weeks ago getting a home loan. I sold 2 houses and had a down payment of 94,000. My credit score is almost 800. I make a substantial income and have no debt. It's 4pm, my closing agent needs paperwork by now to do the scheduled closing tomorrow @ 10am. I have gas, electric and the freight elevator reserved- they have screwed up everything. I started a new job and had made arrangements for tomorrow. I had to call almost every day - they are horrible at contacting you. DON'T apply here.

If I could post negative stars, I would. My (and my wife's) experience with Pentagon Federal Credit Union's mortgage department was terrible. Never have we experienced such rampant incompetence, unprofessionalism, and arrogance from an outfit we were trying to give hundreds of thousands of dollars over 30 years.

After seeing the reviews on this site, and was hesitant to go with PenFed for my first mortgage. However, their rates were just so good that I couldn't pass up the opportunity to apply with them. I worked with Danielle and Zamira, and they were both very responsive and helpful throughout the entire process. The entire process from signup to closing took exactly a month for me, but that's because a lot of people were rushing behind the scenes to help me meet my settlement date. I guess your results will vary depending on which mortgage processors you're assigned, but I had a very good experience. Even my broker was surprised at PenFed's speed and responsiveness. He's worked with many other lenders, and said none of them could have probably delivered better for us.

It's a shame that we're not allowed to give zero stars. This is not the first time my wife and I have obtained a mortgage, or bought a house. But this is far and away the WORST experience we've ever had! There are no words to describe how incompetent the PenFed Mortgage unit is. They send you a checklist of items that you need to submit for your application. You provide them. Then they send you rude emails saying you don't have X, or you failed to include Y. And, of course, that's because they didn't ask for it the first time around. But even if they have asked for something, and you've provided it, it doesn't matter - they still don't have it. They either lost it or can't find it. So they send you another rudely worded email saying that your file is incomplete because you didn't send something.

Do yourself a favor and stay far away from this place. Horrendous underwriting as underwriting dep't can't evaluate a tax return with schedules attached. Confused Schedule E with Schedule C. Told me I was self-employed when I'm clearly not. Underwriting claimed there were numerous other mortgages on property because numbers don't make sense to these nitwits... real cloak and dagger stuff LOL. I withdrew app rather than give appraisal fee to this topsy turvy place. What a horror show. I've been through the mortgage process several times in my life and have never experienced anything like this... whooboy! They put "turned down" on my app but I turned these jokers down before wasting another minute. Run!

I've been waiting a month for these clowns to process a loan I've been approved for. It's ridiculous how poor the service is. It is a business that feels like it's in the 1980's. I would never use them again. I advise you to stay away unless you like uncertainty and delay in your loan process.

I could have written most of the 1 star reviews of PenFed on these pages. I wanted to bid on a property and applied for pre-auth of a fixed rate mortgage on a Monday. On Friday, I had not heard from an agent despite 3 phone messages. Good thing I saw these ratings before I completed my application. Am not continuing with PenFed and will apply to another mortgage company.

I had a good beginning with PenFed Credit Union. I joined in 2011 got a used car loan and everything was going well. Friendly people on the car loan side and everything went smoothly. Since 2011 I left my job and started consulting. In April 2015 I paid off my car loan (never a late payment by the way) and wanted to do some home improvements, so on April 17, 2015 I applied for a $25,000 home equity loan. I knew my home was worth about $325,000 and I owed about $210,000 so there was plenty of room for the loan amount.. I also have no other debt over 30 days old other than my mortgage and my credit rating is just over 860. I applied online and on April 20, 2015 I received an email to check my application status. I was pleased that it said the application was "approved." In an email they said it would take "4-6 weeks to finish the loan processing."

After applying for a mortgage online I was told that I would be contacted within 48 hours. After not hearing from anyone I made several calls to the customer service line where I was told someone would call me within a specified time. Those calls never came about. I then sent emails to no avail. I ultimately sent an email to everyone I could think of to let them know that I was no longer interested and was moving on to another lender that would actually contact me about my loan. The entire situation was VERY frustrating. Don't be fooled by the low interest rate offers you see from PenFed. It's easy to offer great rates if you never contact the customer to follow through with setting up the mortgage.

I put in for a home improvement loan. After all the work they would keep call for the same paper over and over, it seems they keep losing it then call me back for the same thing.

I called to open up a checking and savings account @ Pentagon Federal for the sake of transferring my military direct deposit over to the account. I was taken back when I found out I could not even open up an account because of my Credit Score. I must ask what the "H.E.L.L." does my credit score have to do with a checking account. I am not asking for a loan or anything else, just a freaking account. I have done (6) Combat tours to Iraq and (2) to Afghanistan and a supposedly military institution is going to deny me an account due to my credit score. I feel like the denial is utterly appalling and almost a slap in the face...

I had Pen Fed for my checking account. Had some medical issues and IRS over payment and forced into filing a bankruptcy. Chapter 13 did not include Pen Fed on anything since all I had was checking and savings. They put restriction on my accounts, I closed my checking and savings. Went back to them, now 2014 they opened savings but no checking even though my checking with them was in great standing. Won't remove the restriction. Went to America first credit union, completely great experience - no restrictions and they gave me a credit card. I am debating taking my five bucks and saying forget Pen Fed altogether!! I will probably give them another month to remove restrictions. If they don't, I'll leave and the twenty people I know that have Pen Fed will leave as well!!

Been trying for over 2 months to get PenFed to process a Home Equity Loan with no success. We get messages that loan status has changed and to check website, which when we do, nothing has changed. Repeated requests for documentation already submitted, no response to messages and finally the last straw after over 2 months a message saying that unless the requested documentation is submitted within the next week that the loan application will be cancelled. This is the worst experience we have ever had with a financial institution.

Do not waste your time with this company. They are completely incompetent and unprofessional. The negative reviews are spot on. They are unresponsive and do not follow through on promises. Even supervisory personnel give out false and misleading information. Phone calls and emails would go unanswered for days. It seemed everyone was in a state of confusion. Save your self the aggravation and take your business elsewhere!

No interest in customer service. Sat on my application for months and kept me waiting in a motel because they didn't bother to process it in a timely manner. Couldn't talk to the processor as he never answered the phone. I could go on and on. Let me just say I have a lot of experience in real estate transactions and am very highly qualified for the tiny little mortgage I applied for. And this was by far the worst experience ever.

I was in need of raising my daily limit and was told that they were unable accommodate. This is an issue especially when it's my money. So I was pushed to management and the same issue, so I politely expressed I want to close my account.

On March 12, 2015, I called PENFED and inquire my loan application, after I was told the application was sent to the underwriting department two weeks ago. During the two weeks period I contacted my loan processor numerous times and I got no response to my inquiry, and today I decided to call the mortgage department on my own and see if someone can provide me with an update. Immediately I was told that the refinance application was denied. Days after I submitted my application online, I have received an email regarding the application, stating the contact of the processor.

For years we have been a customer; using online services of PFCU. However, PFCU recently changed (supposedly updated) their online services; essentially changing all online account names and their only assistance when called is to refer us to online tutorials that do not adequately address how to fix the problem. After over 24 years of being a member of PFCU, it seems now is an appropriate time to look for more responsive customer-oriented financial services. From our perspective, if you are not a member, then we don't recommend getting started.

I have been trying so hard to get approved for a checking account for over 2 years. Every 6 months when we pull up my credit report I still get denied. My credit has improved and I don't like the fact that I keep still getting denied. Why and when will I become eligible for a checking account? I have been a member since 2012 and have not enjoyed this credit union due to this and the account restrictions for my savings account.

I am in the process of requesting a mortgage Loan to Pen fed and: Today is day 62 and this morning I received a list with 7 additional items to be completed. (On tuesday they said everything was ready for final submission and final signature was being prepared). They changed the processor at the middle of the process, this new processor does not understand what he is asking for (e.g. They requested a valid survey and title company approval - when I live in a condominium and this is not necessary - and still I had to explain this with help of their own title company staff). They are unable to figure out what type of insurance cover they need, we have had conference calls with my building's insurance underwriter, with the insurance broker, etc.... they still now need additional policy information (two weeks of e-mails ...). Please, do not make my mistake. Now I do not know whether they will charge me for their expenses if I do not continue this process.

I had a horrible experience with Penfed's Mortgage dept. They lost my paperwork for 30 days, ordered an appraisal, denied the loan, never responded to my appeal. Totally unprofessional. Beware!

I have paid off multiple cars with PenFed. I use their credit cards and bank with them. I have had no major problems over the years. Most problems I've had usually can be traced back to me or occasional fraud which nowadays comes with all institutions. I always have the best rates and for the most part hassle free service. Once in a while you may get a bad customer service rep but that goes with anything. I say bad because down the road they may not have followed through.

My property is in the flood zone and during underwriting, they made me get supplemental insurance via the National Flood agency. When I talked to members of my HOA board afterwards, they told me what they had purchased was sufficient and that I didn't need add'l supplemental coverage. I have been in contact w/ multiple reps including some supervisors over this and been getting various answers! None have been put their words in WRITING either as I need something in writing to cancel or revise my coverage (unless I let it expire come renewal time).

I started a mortgage application process with a PenFed Mortgage processor. Started is key word. Never signed anything, just looked at interest rate, and was told what would happen. After a while I never heard back from anyone. Tried to reach original loan processor - never heard back. Another co-workers said she was busy. I told them to cancel the Mortgage application. Several weeks later I find a charge on my credit card, which I had never given them the numbers to or authorized them to use my credit card. Charges of 438.00 were applied. After speaking to them they refused to apply credit. I reported them to my CC Fraud dept. Beware. They are unprofessional!!!