Pentagon Federal Credit Union (PenFed)

2.6 out of 5 stars
25 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

May 11, 2016
abombhit Account Holder

I'm closing on in three days and the closing costs have jumped from 18 to 25 grand. The loan officer said someone made a mistake which they fixed but they have yet to track down how or who it was. This is all happening 3 DAYS before closing and I am trying to reach anyone but the loan officer and have no gotten any return calls.

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

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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Jan 25, 2017
PenFed is WORSE than Well Fargo
Anonymous Account Holder

PenFed made me feel nightmare. I am angry because PenFed decline almost everything my bills but I have money there.  They must be not honest. I like my old belvior federal credit union.  I had no problem with belvior federal union credit but they transfer to PenFed. That's suck worse.  They are very slow and not good management and steal fee and late but I have money there I am serious. PenFed should be fraud! Same Wells Fargo.  That's enough for now   I have zero tolerance with PenFed.  I will look at other new bank. 

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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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