Pentagon Federal Credit Union (PenFed) Reviews

2.7 out of 5 stars
23 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, 2014
Are the rates worth the frustration?
Anonymous Account Holder

I was originally pleased to get a used vehicle loan overseas for 1.49%.  Everything went well until I was selling my vehicle to another military member overseas who was buying my truck for her husband who was returning from deployment.  I called to ask what PenFed needed from me, and asked them to explain the process on my end.  The customer service was extremely rude.  I actually ended up calling USAA to get an understanding of the typical procedures for closing out a used vehicle loan (they were very helpful even though I explained I wasn't calling about a specific loan I had with them).  Then, the buyer decided to finance through another bank and that bank just needed a scanned copy of the title to verify all their paperwork was good.  PenFed would not scan, e-mail encrypted and call it done.  They had to fax it, which the other bank was fine with  but after a week of calling PenFed daily and asking why they hadn't sent it yet I finally realized that they had faxed it to the wrong number... 4 times.  Then once they gave me the numbers that they had faxed it to erroniously, I noted that not one of the 4 different numbers were even close to the other.  The buyer nearly backed out of the deal out of simple frustration.  I will gladly go with a better bank for an increase of 1 or 2%.

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

Jun 16, 2017
Great Products. Competitive APRs
RonBargarh Account Holder

I recently applied and got approved for their new 2% flat cashback credit card called PENFED Power Rewards Visa Signature Card. The only caveat is that a member needs to have an active Checking Account called Access America Checking (Requires a minimum monthly balance of $500 or Total monthly Direct Deposit of $500 to waive the service fee). It's an amazing card. I also have really low APR auto loan with PENFED. Also have a line of credit and another credit card with generous credit limit. Their Debit Card is surcharge free on the Allpoint Network too. 

Overall amazing products. Great Online Banking. Really good Customer Service on the Phone. Strongly recommend this credit union for all needs.

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Apr 12, 2017
Mortgage Servicing is Despicable!
Anonymous Account Holder

I have a mortgage with PenFed and wanted a reappraisal so that I could get PMI removed from my loan.  Based on recent home sales in my neighborhood, I have about 78% equity in my house.  I called and the rep told me I had to send an email, which took TWO WEEKS for a response that told me my house would have to appraise at a price that amounts to 70% equity, which is NOT what federal law says.  I responded to the email to ask why and for more info, but it has been days and still nothing heard...

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Mar 24, 2017
Very awesome.
preston2003 Account Holder

I refinanced both of my vehicles from 10.25% and 12% to 2.5% and 3% with PenFed.

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Mar 14, 2017
I would go else where.
Anonymous Account Holder

Recently, I received a letter stating that I could possibly remove PMI from my mortgage account.  I followed the instructions provided and put my intentions in writing.  I was contacted by a representative who said that she would need to run a report to make sure my property didn't lose value.  The cost of the report was $10.00.  Once I made my deposit, she ran the report.  Of the 6 "comparable" properties on the report, 5 were not comparable in size, bedrooms, or bathrooms.  My property came in well under market value effectively making me 2% off to remove PMI.  When I inquired why there weren't more comparable properties on the report, I was told that this was an online service and that was how it was.  I just appealed my taxes and did a search in my area for comparable properties with a realtor and know that the estimate PenFed did is not accurate.  My property is at least $50,000 more than the ridiculously conservative estimate they gave.  It seems like a scam for me to keep PMI.  There is no logical recourse other than to keep PMI.  I wonder if PenFed has other motivations to ensure that their customers keep PMI?  Maybe they are getting a kickback from the PMI company?

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Mar 05, 2017
Excellent Credit Union and service!
Porklion Account Holder

I only had to call customer support and speak to somebody twice, but both times the two ladies I spoke to were very nice, informative, and helpful. I started using them after being recommended to them by my brother and my brother in law, so far, everything has been excellent!

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Mar 04, 2017
Low rate approval on a New Vehicle Loan
Anonymous Account Holder

I don't know what all the negative reviews are for...If you read carefully, some of the diction in the other comments seem canned. Beware of troll reviews.

In any case, my experience has been overall very positive with PenFed. I got approved for a new auto loan on a Saturday with a 682 credit score at a 3.25% rate and the loan amount disbursed to the dealership within a week's time. Easy process, $5.00 checking account start fee (fiancee is Air Force) and auto ACH payments. Would recommend! 

I'm exploring Student Loan Consolidation with them at present and far and away better rates than any other consolidation service for my credit score class (680-730). 

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Feb 25, 2017
Conservative yet flexible.
Lovemylibrary Account Holder

They will work with you...simply be honest.  Good, personal service.  They always follow through, letting you know that they've received your email. Quick and very efficient.

Great experience all around...I got my car refinanced.  If I ever purchase a new vehicle, I would definitely use PenFed.  Would recommend.

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Feb 25, 2017
Anonymous Account Holder

They have terrible customer service and are rude to their customers. Everything is a pain with them.  My card was frozen for potential fraud when I was simily making small purchases at the grocery store and using it for small local purchases.I do not recommend them at all.

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Jan 25, 2017
PenFed should get fired
Anonymous Account Holder

PenFed is not honest.  They are very Thief

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Jan 25, 2017
PenFed is not honest
Anonymous Account Holder

PenFed is Well Fargo.  Period. 

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