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.

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.

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.