Pentagon Federal Credit Union

Mail-In Deposit Issues
- diamondx - Thursday, August 18, 2011 - 5:32 AM

I am AGAIN having issues with PenFed concerning deposits that I mailed to them.   They have been really very slow to post my deposits in the past and this time it is 13 days from when I mailed to a branch 200  miles away and still not posted to my account. I could have driven there in 3 hours. Does not seem to concern them too much --I emailed to report a possible security issue  and no responxe to that.   Mail sent 1500 miles away the same day has been received several days ago.

Pen Fed will not confirm after 3  requests that the address I mailed to listed on their website is valid for mail deposits.

 

Very bad customer service on this matter.

 

anyone else have this problem ? 

 

Chances that it is a postal issue is  highly unlikely  --- I have NEVER not had any mail not get to where I sent it.

IMPORTANT CHANGE OF TERMS IN PENFED's YEAR-END CD SPECIAL
- KenMaxwell - Thursday, November 18, 2010 - 11:15 AM

PENFED IS RUNNING A 10-YEAR, 5% APR CD & IRA CD SPECIAL FOR THOSE MEMBERS HAVING MATURING CDS IN OCTOBER.  I RESERVED FUNDS FOR THIS OFFER AFTER HAVING ASKED SEVERAL QUESTIONS AND GETTING SATISFACTORY ANSWERS.  THAT WAS A MONTH AGO; ALL IS NOT WELL IN RIVER CITY.

TODAY I RECEIVED A NEW MONEY MARKET AND IRA SHARE CERTIFICATE DISCLOSURE (FORM 687) FROM PENFED.  UNDER THE SECTION TITLED EARLY REDEMPTION PENALTIES, KEY LANGUAGE HAS BEEN STRUCK FROM THEIR PREVIOUS DISCLOSURE (FORM 686).  UNDER SECTION h.4c, THE WORDS :"IF THE OWNER HAS REACHED THE AGE OF 59 1/2" IS STRUCK FROM THE NEW DISCLOSURE.  THIS MEANS THAT ALL EARLY WITHDRAWALS FROM PENFED IRA CDS WILL BE FULLY PENALIZED UNLESS THE CERTIFICATE OWNER IS FULLY DISABLED.  

WOW!  THE ANSWERS I GOT A MONTH AGO ARE INVALID.  THE ONE YEAR'S INTEREST PENALTY FOR EARLY WITHDRAWAL SEEMS EXCESSIVE.  I PLAN TO STOP THE PURCHASE OF THIS CD IN ITS TRACKS UNLESS I GET SOME BETTER ANSWERS.

Penfed And Its Credit Card
- outtempster - Wednesday, June 16, 2010 - 1:55 PM

I opened a CD with PenFed a while ago which gave me good returns. I am happy with their customer service too. Unfortunately the rate has come down a lot, and it's not that attractive except the 7 year CD which is 3.51%APY. However, you do need to consider whether or not the CD rate will shoot up later.

I like their visa credit card very much. Frist of all, VISA is accept almost everywhere except the places that doesn't accept any credit card. It rolled back to 1% on all purchases (planned roll back), but it still has 2% on grocery and 5% on gas. The cash return is credited to your credit card every month, instead of waiting for it to accumulate to $50 or $25.

I Love Penfed
- jdb - Wednesday, May 9, 2012 - 7:19 AM

PenFed was one of the first credit unions I joined. I joined because they had excellent auto loan rates. In fact, three other family members joined after I did and got auto loans through them.

The on-line banking system is great. I do all my banking over the Internet.

I also have a Visa rewards credit card through them and I use it extensively.

Any time I have had to call the phone support has been excellent.

I highly recommend PenFed.

Most Expensive Checking Account On The Market---Terrible Option For Military
- schroderrw - Thursday, March 29, 2012 - 9:12 PM

Terrible!  STAY AWAY from the most expensive credit union in the market place today!  In addition to charging for checks, PFCU now charges $10 a month for your checking account.  Don't be fooled by their advertisements.  You only get "free" if you have direct deposit with them.  I was with them for 7 years until yesterday when I found out they had recently started charging me this $10 monthly fee.  Imagine paying $120 annually for a no frills checking account!  For those of us in the military that move around frequently and keep multiple checking accounts for convenience...don't use PFCU.  Go to USAA or Navy Fed, for other military banking options.  I used to be a big fan after my first mortgage with them, but they have changed their culture and attitude towards their customers.  Spend a few minutes on the phone with them, and you will quickly notice the poor attitude.  Take it from someone that shops around a lot for the best rates and plans...AVOID Pentagon Federal Credit Union!

Worth A Try...Competitive Credit Card Offerings.
- Ycarrillo1 - Wednesday, February 8, 2012 - 10:14 PM

If you want a good credit card and some nice perks, PenFed is for you. They are a little slow at posting the transfers to your available balance. The downside of PenFed is that they are very, very hard with credit matters, you have to have excelent credit to get something from them. If you do qualify for them, you may be eligible for some of the best car loans interest rates of all nation. They have nice mortgage offers too. They are hard even with their secured credit card, they will deny the secured credit card even when you already have the money deposited in one of their accounts, that makes no sense at all. I think it is a good credit union for having some emercency funds and cd's but that's it. You have to enroll for email alerts and statements, otherwise you'll have to pay a small fee, but a fee is a fee anyway... 2 stars for PenFed, you can do better...

10 Year CD @ 5% Offered In Oct 2010
- grnbsh - Sunday, February 20, 2011 - 9:18 PM

My three year old CD matured in October 2010, so I rolled it over to a ten year CD at 5%, with the special offer they had.  Can't beat that rate.  The bank is very friendly and helpful, and it was easy to join it even though I'm not in the military, nor in Washington D.C.

I do believe that I found their great rates back in 2007, right here at Deposits Accounts, because Bank Rates doesn't offer the great rates available from Credit Unions.

Rude Customer Service
- NoName - Friday, January 13, 2012 - 5:12 PM

I have a visa credit card with Penfed. They have cancelled and replaced my credit card numerous times without giving me a reason. As a result, I do not receive my statements and I could not pay my bill on time. Instead of apologizing and giving me a reason for the replacement, they refuse to tell me why and charged me interest. Their customer service is horrible. People that work there are rude and inconsiderate. While their products are good, their services are the worst. 

Penfed Takes Too Long To Process IRA Transfer Paperwork
- mikeH - Tuesday, November 1, 2011 - 3:32 PM

I called them to find out about the transfer of my IRA account to another bank.  They received the paperwork from my bank, but, told me that they were "running a little behind" and that it would take 4-7 BUSINESS days to get the check IN THE MAIL to my new bank.  I asked if I could have the funds wired.  They said no.  I am very unhappy with their procedures on this matter.  I am collecting almost no interest in their IRA money market account as I wait because they are "running a little behind". 

An Excellent Credit Union
- LbCub - Saturday, March 5, 2011 - 8:00 AM

I have been with Pentagon Federal Credit Union for several years. They've satisfied my banking needs and the customer service is truly great.

Don't Waste Your Time And $$ With Penfed
- bobesc - Friday, April 6, 2012 - 12:25 PM

Since I'm not military, there is a requirement to join some military organization to enroll. I was enrolling with PenFed to apply for an auto loan refinance so I joined this 3rd party organization and spent my $15. OK, so be it. I'm going to get a good refinance rate I thought so no big deal. My loan application was submitted, accepted and I hear nothing for over a month. After a couple emails not replied to, I then get a reply saying PenFed was just waiting for the original lender, which happens to be Wells Fargo so we're not talking some small hard to track loan originator, to forward the title and some documents. I wait a month and a half more, nothing from PenFed. I send and email, no reply. Several weeks later I call customer service and they say the request to the original lender is still sitting there, no further action taken. What! I have never, never had this kind of difficulty with a loan of any kind and I have sterling credit., Can you imagine how F'd you are if you run into this total lack of lender effort for a home loan! So I blew $15 for membership to a military organization I will never use (they can't refund that of course) and I wasted months waiting for very, very poor service and no effort on PenFed's part. Totally unacceptable and way below industry standards for customer care and professionalism.

Penfed = No-Hassle Cashback Reward CC
- wahs - Friday, June 18, 2010 - 3:02 PM

PenFed's Platinum CashBack Reward credit card is the primary credit card I've been using after Citibank changed their term on their cashback reward credit card. The cashback is credited to you each month with no hassle, unlike Citibank's $50 minimum requirement.

I turned to PenFed after a careful search and based on positive reviews. The application process was short and simple. The only drawback to me was I only eligible to the membership through National Military Family Association, which meant extra fee. If you are eligible through one of the other 6 methods, you should be able to give PenFed a 5 star.

Additionally, if you have reasonable credit score and need a load, PenFed offers many low interest options. It is a one-stop shopping place, I would say.

Members Bilked By Automatic Insurance Charges
- johnjay98 - Monday, April 30, 2012 - 12:19 PM

Penfed years ago sold me insurance for accidental death with charges being taken automatically out of my account. I told them to stop. They say its out of their hands. They are not supporting their members just bilking them.