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Pentagon Federal Credit Union (PenFed)

2.6 out of 5 stars
17 Reviews

From Account Holders in the last year


Application Process

3 out of 5 stars

Customer Service

2.5 out of 5 stars

2.5 5

Most Helpful Positive Review

May 16, 2016
I LOOOVEEEE This Credit Union...
ShanyaRene Account Holder

I had my account with them for many years...never really used it...the most I had in there was 25.00.

Well, I was trying to buy s condo...and no BIG Banks would approve me for under 50,000. The Condo was only 30,000.

Another bank told me to try a credit union...I forgot about my PENFED account...which at that time, had only 5.00 in it.

I said what do I have to lose, so I did an application with them, and to my surprise, I was approved.

After I closed on the condo, they offered me a credit card for 10,000...I could not believe it!  Then, I got a 10,000 signature loan with them as well.

They gave me a 500.00 over draft protection loan too.  With all this good luck...or should I say BLESSINGS...I said let me refi my Car....and they did...interest MUCH lower than I had with CAP ONE. I later asked for a credit increase...They 13,000.

I can't speak for anyone else...but they sure have helped me...

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Most Helpful Negative Review

Mar 02, 2016
OK for very basic banking services.
Anonymous Account Holder

The Good: Basic accounts (checking, savings, money market, credit cards).

The Mixed: Awesome rates for other services -- but bad service outside of car loans (not bad people, just organizational incompetence with extended service tasks).

The Bad: Occasionally basic banking service rates fluctuate wildly (but still better than the competition). The website is laughably silly.

The Outstanding: Handling overseas credit card outages. Many domestic banks don't even understand what is going on or how to deal with credit card companies about this sort of thing (posting foreign travel or residency notes on the account and actually paying attention to them, handling foreign addresses that don't fit in the US-centric address fields in a program, etc.). Their constant experience dealing with overseas servicemen is obvious here.

Bottom line: Basic banking is just fine, and even their goofy website is sufficient for the basics (but don't expect much support in the website beyond basic account handling and transfers).


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These reviews were written by current and former account holders in the last year.

Jan 18, 2017
Great Customer Service Easy to work with
joesidelinger Account Holder

They worked with me on balance transfers and helped with establishing all my accounts They are very pleasant if you have questions. The online and mobile apps are fantastic.

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Dec 03, 2016
Poor customer service. Look elsewhere!
Anonymous Account Holder

Their Rewards Program website has been unusable for over two months. Customer service just tells me to keep waiting until they fix a technical problem. Don't expect to be able to use your rewards points anytime soon.

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Nov 30, 2016
lostdown Account Holder

Rates as reasonable, online process was simple and clean, their loan practices appear to be conservative, but that's ok, it brings consistency to members.  Approved for credit card with $10k limit, mid-700's credit score working on building up my credit.  Installed the iOS app, worked as expected, no issues.  I prefer to bank with organizations that support the military although overall, my highest loyalty is with USAA but I already have a card with USAA.

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Oct 15, 2016
Penfed Credit Union is the best Credit U
Anonymous Account Holder

Penfed Credit Union is the best Credit Union , their Visa Platinum Reward card is best 

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Oct 15, 2016
Anonymous Account Holder

Had me resend same documents over and over and over for a HELOC. Never seen anything like this. Complete incompetence.

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Sep 24, 2016
Mortgage refi fees are high
Anonymous Account Holder

I applied for a mortgage because of the low rates. I did not sign the paperwork because of crazy high closing costs and Mortgage Insurance. The advertised rates are low but they really slam you on the fees and closing costs and mortgage insurance. The "mortgage advisor" did not explain any of these costs and went ahead with arranging an ** expensive ** appraisal before I signed anything. I would steer clear. The company claims to be reputable but is clearly underhanded in the way it treats its customers. Stay clear.

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Sep 12, 2016
Timely processing of loan applications.
Anonymous Account Holder

Location and ATM very convenient.

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Sep 05, 2016
Duped by PedFed Cash Rewards Credit Card
HappyFarmer99 Account Holder

Stay away from PedFed, in my opinion, they are deceiptful  We have had a 1% cash back credit card with PenFed since 2009.  Just found out today that they changed the "terms of service" back in 2013 instead of being a "1% cash reward" card to being just a "3% back on only gas purchases".  They said they sent a letter, but I don't ever recall seeing anything and if they did send it, I'm thinking this "minor fact" was burred in the small print.  STAY AWAY FROM PenFed, as they apparently are a deceitful organization who would completely change the cash back program on a card and not clearly notify you and have the nerve to still issue the card with the title on the card being "Cash Reward" when they clearly changed it to being just a "Gas Rewards" card.  I am very disappointed in PedFed, thought they were a better organization than this...we will be shutting down our account with PedFed ASAP.

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Aug 19, 2016
High rates
Anonymous Account Holder

Applied for an unsecured 5K loan with a score in the low 700s and $0 pre-existing debt.....approved for the loan with a rate of 17.99%!!

Applied with Best Egg the same day and was approved at 10.99. Loan is in the process of being funded. 

Called PenFed the same day and withdrew the application....Rep didn't even ask why. I asked if they could not report the 'hard inquiry' to Equifax as it could lower my credit score and was told that they could not. 

I see no benefit to belonging to PenFed. 

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Jul 20, 2016
Congratulations PenFed you made it in th
Sf2500 Account Holder

No different than the big Banks you can't even get cash withdrawals from your savings account. Oh yes PenFed I went there you're just as bad as the big Banks!!!!

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