Penfed Reviews

Access Denied

penfed.org
3.63
136 reviews
Great Rating
Based on 136 user experiences

Rated 3.63 out of 5 by 136 Happy Customers

44.1%
14.7%
14%
11.8%
14.7%
All 5 ★ 4 ★ 3 ★ 2 ★ 1 ★ 😊 Positive 😐 Neutral 😞 Negative Reset Filter
J

Terrible Process Nobody knows anything

It was never clearly initially stated in what format did Penfed want me to upload my paystubs until 3 days later after already submitting my paystubs twice and having them removed by your system without notifying me of why Also when speaking to phone reps they stated I was approved for a 30k loan and could go into a branch to finalize my paperwork and have a check cut the same day instead of waiting for one in the mail however when I went to the branch in the Wallstreet area not only did it take them over a hour to upload my identity verification documents because their system was slow and they was sure how to properly do it but the rep in the branch told me I am only approved and allowed to receive a 20k loan and I will still have to wait for a check in the mail because they only cut checks for auto loans He was extremely unhelpful and the whole process was terrible It was frustrating and a rollercoaster of emotions from poor communication even those I constantly reached out for information everyday sometimes 3 times a day
F

Their Point system is vague

Their Point system is vague What is a point what s the value of a point Can I top my vehicle off more then once a day
S

Not good in any way

Very slow inefficient service in branches Limited branches Contentious employees I don t go to a bank to have people start arguments with me Definitely disappointed
J

A month is too long to receive my funds

I am in the process of closing my accounts at Pen Fed for a number of reasons one being customer response and support The customer service reps were great but the process of addressing my situation is unacceptable I have to keep contacting PENFED as I do not receive any updates Currently I am awaiting the funds from cancelling a CD I was requested to upload a request to their website I did so nine days ago and heard nothing I called yesterday and was told my uploaded request was received and it needed to be in a queue requires review and it could be up to 10-15 days before a check was mailed That is nearly a month to receive my own money back In today s day and age that is just unacceptable So I will have to wait another couple of weeks and keep checking on the status While you maintain accounts there products are good but it s difficult to extract your funds if you leave
L

I want to recommend PenFed Credit Union

I want to recommend PenFed Credit Union if you need some money fast They have the best interest rate and streamed line the loan application It was quick painless and amazing Thank you PenFed
K

PenFed doesn t make it easy

PenFed sent me a credit card offer in the mail I have excellent credit so I applied thinking it would be an easy process as it has been with other credit card issuers It was not PenFed requested more information and then more information They sought me out only to make things difficult I was finally issued a card but the process was unnecessarily cumbersome
C

I am disappointed

I am disappointed I expected them to have better practices The agent who helped me with the loan was very professional I find their fees close to predatory practices Let s say one month the autopay gets returned because you have insufficient funds They ll charge you 30 for reject payments on top of it they add 25 as late fee Of course your bank will charge you too No other bank has such high fees Also they ll remove autopay from your account w o letting you know Customer service is ok but they can t do much to help you
A

Left feeling uneasy

Left feeling uneasy I was approved for a credit card Should have arrived today I got a call asking for my banking information saying I needed five dollars into an account to complete the application process This didn t seem right so I called back and spoke to someone who was unsure They said it s a new process but everything is fine But now I have to wait longer for my card to come in the mail Not the best experience Seems like a scam and expectations are not set
L

credit card offer was sent out 3 days before it expired

When you send out an email credit card offer for home improvement project 3 days before the offer expires then don t honor the deal it s an epic fail I filed a complaint with a representative and no one has contacted me
D

The Gold credit card offer is very

The Gold credit card offer is very competitive However I experienced too many website glitches The application process was nothing close to quick or seamless When this happens it would be great to speak with someone without long wait times I was unable to take advantage of the quick approval application it took 2 days to approve my application Although I m disappointed with my application experience my application was approved I m waiting to see the outcome of the interest rate SighMy credit score 844

About Penfed

United States

Visit Website

Own this business?

Claim your profile to respond to reviews, manage your listing, and build trust with customers.

Claim This Business

Frequently Asked Questions

PenFed is PenFed Credit Union, one of the largest and most respected credit unions in the United States. Founded in 1935 to serve military personnel and their families, it has expanded its field of membership. Eligibility is broad and includes employees of numerous partner companies, members of certain associations, and individuals who join one of PenFed's affiliated organizations. The website provides a dedicated section outlining the straightforward paths to membership, which often requires only a minimal opening deposit.

PenFed offers a comprehensive suite of financial products and services. These include various checking and savings accounts, such as high-yield savings and money market accounts. The credit union provides a portfolio of credit cards with robust rewards programs and low introductory APRs. Lending solutions encompass auto loans, mortgages, personal loans, and home equity lines of credit (HELOCs). Additionally, members have access to investment, retirement planning, wealth management, and insurance services through PenFed’s subsidiary companies.

Members can manage their accounts securely and conveniently through PenFed's digital banking platforms. The official website, PenFed.org, provides seamless access to online banking. Additionally, PenFed offers a highly-rated mobile app. These tools allow members to perform a wide range of activities, including viewing account balances, depositing checks remotely, paying bills, transferring funds, and monitoring their overall financial health from anywhere. The interfaces are designed for clarity and ease of use for all members.

Yes, PenFed is committed to financial education and empowerment. The website hosts a 'Learn & Grow' center, which is a valuable resource filled with articles, guides, and tools on various financial topics. These include budgeting, credit management, home buying, and saving for retirement. This educational focus aligns with the credit union's not-for-profit, member-owned philosophy and aims to help members make informed financial decisions.

PenFed Credit Union was founded in 1935 with a mission to serve military personnel and their families. It has maintained a strong legacy of community support and giving back. The website highlights its ongoing commitment to military communities, first responders, and various charitable initiatives. This community commitment, combined with its member-focused approach, distinguishes PenFed as a financial institution dedicated to more than just transactional services.

Related Companies

View All
1
Bankgreenwood
3.59 (140) · bankgreenwood.com
2
Fingerhut
3.57 (140) · fingerhut.com
3
Publix
3.57 (140) · publix.com
4
Acecashexpress
3.59 (139) · acecashexpress.com
5
Lendingtree
3.55 (136) · lendingtree.com
6
Checkintocash
3.65 (131) · checkintocash.com
7
Bigpictureloans
3.59 (131) · bigpictureloans.com
8
Forafinancial
3.77 (121) · forafinancial.com
 View all 20 alternatives
Looking for Penfed alternatives? We've ranked 20+ similar companies by reviews.
View All Alternatives

About Penfed

PenFed: A Trusted Financial Partner for Members Nationwide

PenFed.org is the official digital gateway for PenFed Credit Union, one of the largest and most respected credit unions in the United States. Serving a vast and diverse membership, the website functions as a comprehensive financial hub, offering a wide array of banking products, loan services, and educational resources. Founded in 1935 to serve military personnel and their families, PenFed has since expanded its field of membership to include a broad spectrum of individuals and organizations, all united by a commitment to financial well-being and community support.

Core Financial Products and Services

The website is meticulously organized to provide easy access to PenFed's core offerings. Members and prospective members can explore detailed information on:

  • Checking and Savings Accounts:A variety of accounts, including high-yield savings, money market accounts, and checking accounts with competitive rates and low fees.
  • Credit Cards:A portfolio of cards known for robust rewards programs, cash-back offers, and low introductory APRs, particularly appealing to those with strong credit.
  • Lending Solutions:Comprehensive loan options including auto loans (new, used, and refinancing), mortgages, personal loans, and home equity lines of credit (HELOCs).
  • Investment and Insurance Services:Access to retirement planning, wealth management, and various insurance products through PenFed’s subsidiary companies.

Digital Banking and Member Experience

PenFed.org places a strong emphasis on secure and convenient digital banking. The site provides seamless access to online banking and a highly-rated mobile app, allowing members to manage accounts, deposit checks remotely, pay bills, transfer funds, and monitor their financial health from anywhere. The interface is designed for clarity and ease of use, ensuring that both tech-savvy users and those less familiar with digital tools can navigate their finances effectively.

Educational Resources and Community Commitment

Beyond transactional services, PenFed distinguishes itself through a commitment to financial education. The website hosts a valuable "Learn & Grow" center filled with articles, guides, and tools on topics like budgeting, credit management, home buying, and saving for retirement. This focus on empowerment aligns with the credit union's not-for-profit, member-owned philosophy. Furthermore, the site highlights PenFed's enduring legacy of giving back, showcasing its support for military communities, first responders, and various charitable initiatives.

Membership Eligibility

A dedicated section clearly outlines the straightforward paths to membership. While rooted in its military heritage, eligibility is broad and includes employees of numerous partner companies, members of certain associations, and individuals who join one of PenFed's affiliated organizations. The website simplifies the process of becoming a member, often with a minimal opening deposit.

In summary, PenFed.org is more than just a banking website; it is the digital embodiment of a member-focused financial institution. It successfully combines competitive financial products with robust digital tools and a genuine mission to educate and serve its community, making it a reliable and comprehensive resource for anyone seeking a trustworthy financial partner.