Penfed Reviews

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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
D

Misleading rates

Pre approved rate wanted a set amount for a renovation and was offered 50 more which I did not need I began completing the application the next day and the credit Union jacks up my rates
M

Hackers paradise Quicken

We have many accounts across many financial institutions PenFed is the only one that blocks Quicken Direct connect They claim security flaws PenFed is also the only account where our credit card is subject to frequent fraudulent charges We have to get new credit cards from them at least once a year I wonder if the two are related
J

Think long and hard about doing

Think long and hard about doing business with Pen Fed Credit Union on a loan or credit card application The rates are higher than any other credit union most 2X the rate Your application is sent around to many hands within Pen Fed and notification of where it went next is slow and frustrating to say the least You would do better avoiding any and all business with Pen Fed
J

Am not sure how this financial

Am not sure how this financial institution stays in business PenFed s customer service is terrible far worse than anything I have experienced Website and App are always hampered by poor design and bugs Complaints to CS via phone or email go unanswered My accounts can not be linked to Quicken software Will soon be leaving for another credit union
R

Transactions within CC accounts has

Transactions within CC accounts has been horrible Updates are slow to the point of inaccurate My linked account has not functioned since last year Multiple calls emails have given nothing but lip service I ve been with them for 21 years IT has been slow unresponsive and under staffed
I

Don t understand the positive reviews

I don t know what all the positive reviews are based on I ve had a credit card with PENFED for about 4 years The bank is markedly behind every other financial institution I ve interacted with from a technological service standpoint Even the smallest tasks requests are consistently difficult to accomplish The latest example After answering many questions to verify my identity I still had to upload a copy of a utility bill to access my account Then I had to wait a few days and phone their customer service 3 times before they looked at my utility statement restored my access The only reason why PENFED required me to do all of this Because I had a new phone number Now I m in the process of closing my account - but even that is considerably more complicated than they said it would be when I asked them how to do it
G

Customer Service Person Changed My Mind

Customer Service Person Changed My Mind About Doing Business With Your CompanyThank You
D

They refused to send my check to my new

They refused to send my check to my new address rather they insist to send it to my previous address
P

GChrome preferred

GChrome preferred Applied on Aug 12 and 5 phone call later learned their website likes GChrome browser and Firefox not so much
T

Not Perfect but None Better

I have used Penfed for over 25 years I have had some great experiences and some not so great ones Customer Service is like a roller coaster Sometimes it is great sometimes it is terrible but 7 10 times it is good I have had issues with wire transfers 35k was missing and although it took two months it did get resolved but I never got an explanation The best thing IMO about them is the interest rates on many of their products are the best I have found HELOC and vehicle loan rates are about as low as anything you will find out there Comparatively speaking they are a pretty good Credit Union and I will continue to use them until I find a better one I have tried four other credit unions Navy Airforce Eglin Ft Bragg and no other Federal Credit Union can touch the rates they have given me

About Penfed

United States

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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.

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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.