Complaints

This profile includes complaints for PenFed Credit Union's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

close

Find a Location

PenFed Credit Union has 40 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

BBB accredited

Near

Country

USUnited States

Please enter a valid location.

Filter

• 

  PenFed Credit Union

  McLean, VA 22102-3381

• 

  PenFed Credit Union

  1101 Grade Ln Louisville, KY 40213-2673

• 

  PenFed Credit Union

  205 Davis Rd Augusta, GA 30907-2495

• 

  PenFed Credit Union

  809 S Main St Copperas Cove, TX 76522-2922

• 

  PenFed Credit Union

  4306 Mike Padgett Hwy Augusta, GA 30906

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:12/08/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I defaulted on a $5,700 car loan with PenFed (the total actual Charged-Off amount was less than $5,700 but more than $350). PenFed eventually sold the debt to a 3rd Party. PenFed originally offered me a settlement of the debt for the sum of $350 (just after the Date of First Delinquency, and prior to Charging Off the debt). I immediately sent the $350 to PenFed, but they rejected the payment and returned the letter to me with my uncashed check. After subsequently selling the debt to a 3rd Party (and inflating the amount due), PenFed engaged in an unlawful collusion with the Credit Bureaus in order to force me to suffer many hardships. PenFed (with the assistance of the Credit Bureaus) constantly removed ALL positive payment history from my positive, closed Trade Lines. This forced me to constantly dispute my positive Trade Lines, which PenFed and the Credit Bureaus then exploited by also simultaneously disputing the negative Trade Lines (which I did not authorize). This also then allowed PenFed to illegally repost previously lawfully deleted negative Trade-Lines to the Credit Bureaus, in addition to PenFed adding more recent late payment statuses (or recent charge-off statuses) to the negative Trade Lines, thus lowering my Credit Bureau scores and resulting in constant ongoing hardships for me. PenFed has engaged (with the Credit Bureaus) in a constant harassment of me via a consistent campaign of inaccurate information reporting. PenFed also refused to respond to a hardship offer I made on a defaulted $472 Line of Credit. These actions could be construed as discriminatory, if ALL PenFed members were not treated the same way I have been treated. My perception is that PenFed (through its' Employees) is trying to PUNISH me for defaulting on these debts. PenFed is operating in an unethical and potentially unlawful way by participating in this type of behavior with the Bureaus. PenFed is not operating in the interests of its' Shareholders, nor according to its' Charter.

  Business Response

  Date: 12/30/2022

  We received your Better Business Bureau complaint on December 21, 2022. We appreciate the opportunity to address your concerns.
  
  Thank you for the opportunity to address your concerns.  
  
  When PenFed sold your charged-off auto loan debt to Security Credit Services (SCS), the unpaid principal balance on the account reflected accurately. On December 27, 2022, we mailed you copies of the sale notice and the statement showing the account balance after your last payment for your records.    
  
  As per our response to your October 2022 ************************************ complaint, we conducted a thorough review of the information we are furnishing to the credit reporting agencies on all of your PenFed accounts. All PenFed reporting has been confirmed as accurate. The credit reporting agencies determine how long they display information on your credit report based on their unique rules.
  
  PenFed has no record of offering or accepting any settlement offers on your accounts or receiving a hardship application. We would like to assure you that PenFed is committed to fair and responsible lending. PenFed will not permit or tolerate discrimination in any aspect of the credit transaction process.  
  
  If you would like to discuss your auto loan account or make payment arrangements on your outstanding balance, you can contact Security Credit Services at ************. If you would like to discuss your charged-off overdraft line of credit account, you can contact Nationwide Credit Corporation at ************.
  
  I hope this information is helpful.
  
  Sincerely,
  Vice President, Collections

  Customer Answer

  Date: 01/03/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because:
  
  The words that you have stated to me here are lies, lies and more lies. I attempted on many occasions to settle both the defaulted car loan and the defaulted line of credit with PenFed. I filed numerous complaints with PenFeds customer service department, both on the credit card side and the personal loan side regarding PenFeds refusal to discuss, evaluate, or negotiate settlement of these debts during a period of intense hardship that I experienced. I have records upon records upon records of dozens of phone calls that were made over a period of 1-2 years, where PenFed clearly discriminated against me, and refused to even acknowledge my hardship requests. If these lying allegations that PenFed has brought forth or not immediately addressed, and if these alleged debts are not wiped clean, PenFed will see me in both arbitration and in civil court, but I will be the Plaintiff. There will also be complaints filed with the office of the Comptroller of the currency, and every other Authority (including my Federal and State Representatives) that I can think of to move this forward. It is truly appalling that an organization like PenFed would be allowed to operate outside of its charter the way it has with regards to my specific complaints. I strongly suggest that PenFed revisit the historical record before it attempts to do anything about closing out this Better Business Bureau complaint. Things can only get truly ugly from here on a legal basis going forward if my concerns are not addresses immediately. 
  
  Regards,
  
  *************************
  

• Initial Complaint

  Date:12/03/2022

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have debt protection on all three of my accounts. I was approved to use my benefits for disability. Two payments have been submitted for my ********* card but hasn't been applied. They only submitted that my payment is $20 a month for my ********* card but its $91 per month. Although i applied for the benefit regarding all of my accounts i'm not receiving it for my ******************. I called and the rep supposedly sent the issues over to the backend to correct. I haven't heard anything and neither am i going to continue to call. These issues need to be corrected. Penfed needs to let securian know that an extra $142 needs to be sent for my ********* card. Penfed also needs to apply the two $20 payments to my ********* account that was sent to them. Penfed needs to let securian know that i need my past and current benefit payment sent for my ****************** card. This is a major issue, i have proof that the two $20 payments has been sent to Penfed but has not been applied to my account. I hate to file this complaint but i need fixed asap.

  Customer Answer

  Date: 12/17/2022

  -------- Forwarded message ---------
  From: ********** <********************>
  Date: Sat, Dec 17, 2022 at 4:20 PM
  Subject: ********
  To: <[email protected]>
  
  

  Y'all are just now sending this complaint to the company. The issue is already resolved, this is crazy. Close the *** complaint 

  
  

  Sent from my ******** 5G Device

• Initial Complaint

  Date:12/01/2022

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On November 14, 2022, a payment to a credit card company in the amount of $8,920.90 was debited twice. I have made several attempts via the established process to contact PFCU regarding the problem and speak to a representative about this matter. Although PFCU did attempt to reverse the one erroneous charge, it has not yet successfully done so as of the date of this complaint. I now have additional credit card payments coming due and will not have sufficient funds in my account to cover these if I do not get the problem corrected by December 8, 2022.

  Business Response

  Date: 12/19/2022

  We received your Better Business Bureau complaint on December 15, 2022. We appreciate the opportunity to address your concerns.
  
  On the morning of November 14th, we experienced a system error which caused us to debit your account twice. Please accept our apology for our error, for our delay in resolving the issue, and for any inconvenience this may have caused you. We credited your account with $8,920.90 on December 6th and corrected your account balance.
  
  We are sorry to hear you were disappointed with the service you received. We strive to take perfect care of our members, but when we fall short, we appreciate the opportunity to make it right. 
  
  Sincerely,
  Senior Vice President, Consumer Products

  Customer Answer

  Date: 12/21/2022

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  *****************************
  

• Initial Complaint

  Date:11/29/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  In July 2022 - I got behind on my monthly payment due to being in the hospital due to covid in which I was hospitalized for over 45 days. The payment that was automatically set up at $403 on 7/12 was returned on 7/15. I call in in August and explained my situation and was told about a re-aging program which entailed an initial payment of $136 and then 6 months of $136 - I agreed to this. In October PenFed tried to debit my account for $1049 instead of $136. I called and was advised that was incorrect and that customer service and the collections department were not communicating with each other, and notes were not detailed but for me not to worry everything would be taken care of they would remove the automatic payment, and that I need to make sure that I make the $136 payment each month. November Penfed tries to debit my account for $1092 again instead of $136. Now during all of this, I am making my agreed monthly payment of $136. On top of that, I got a notification on my credit report that since July my account has been reporting 30 - 120 days late. I spoke with a rep and was told that I was paying the incorrect amount - I was supposed to be paying $160, but my account has been charged late fees and NSF fees. - was told nothing can be done about the late payments being reported to the credit bureaus and cannot waive the late payment fees or the NSF because I haven't been making the full $162 payment. Please tell me how it is that when I never agreed for the entire past due balance to be debited from my account not only once but twice and was NEVER told that it will report late to the credit bureaus if I am in a program to get me back current. Every time I speak to a representative, I am being told something different about my account

  Business Response

  Date: 12/29/2022

  Dear member,
  
  We received your Better Business Bureau complaint on December 14, 2022. We appreciate the opportunity to address your concerns.
  
  After review of your account, we found during the re-age program initiated in August 2022 we inadvertently miscalculated the required payment amount. Our management team has been made aware and have taken steps to ensure this does not occur again moving forward. The referenced automated debit you had established through PenFed Online was cancelled on November 29, 2022.
  
  Your account still qualifies for a re-age, and we contacted you on December 28, 2022 to confirm what occurred and advise of your new monthly payment amount. However, since your account has been late multiple times since March 2020, as well as prior to the re-age, we will not change our prior reporting to the consumer credit reporting agencies. We believe the integrity of the information obtained through these agencies is reliant on all financial institutions reporting full and accurate information.
  
  I trust our actions and this response have provided clarity to your concern.
  
  Sincerely,
  
  Vice President, Collections
  Tell us why here...

• Initial Complaint

  Date:11/28/2022

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I refinanced my used car and new car at PenFed back in the spring of 2022. I received a letter saying they didn’t have my insurance on my used car even though ******** sent them the information. I had to call ******** again to have PenFed notified of my insurance. I called PenFed 2 weeks later and they said my insurance was received and I still received notices of failure to provide insurance up until August of 2022. Then in August of 2022 I received a letter saying they never received my lien from ***** and that the “Title Application packet” was never received. After several attempts (phone calls) someone was able to inform me of the title application packet is actually called a title and registration application in the state of Arizona. I had to complete the title application for both my ***** and ****** and purchase the title because PenFed lost the title from *****. I sent PenFed the Title and Registration Application in separate envelopes along with the ***** title. penFed said it wasn’t completed correct for just the *****, I had the wrong date but everything is perfect on the used car (******). This was finally completed mid September. I just got a letter in the mail after changing my address because if PenFed sent mail to my address I wasn’t receiving it. The letter stated the liens still haven’t been placed and it is not late November. I would like a response from someone who is going to take my case seriously as my rates are going to be raised to 700 dollars more. This is a scam they are trying to pull and the credit union needs to be investigated.

  Business Response

  Date: 12/23/2022

  We received your Better Business Bureau complaint on December 12, 2022. We appreciate the opportunity to address your concerns regarding your PenFed auto loans.
  
  We are grateful you chose PenFed for your auto loan needs, and apologize your previous contacts with us did not fully resolve your concerns. We strive to provide our members with best-in-class service with every interaction, and regret we let you down.
  
  We received a perfected lien for both of your auto loans on December 6, 2022,and we fully reversed the interest rate and payment increase. Thank you for taking the time to speak with our Senior Manager, Collateral & Insurance Administration on December 12, 2022. Please contact them directly if you have any further questions or concerns.
  
  Thank you for being a PenFed member. We value every opportunity to assist you with your financial needs.
  
  Sincerely,
  
  Vice President, Unsecured Loan Products

• Initial Complaint

  Date:11/28/2022

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have equity line of credit (HELOC) loan #********** from Penfed. When the interest rates were going up, I called in couple of times (all calls recorded) and asked what can be done. I was told by various people in their team that there is no option to lock in rate. When I again called on Nov 23, 2022, this time representative in mortgage team said I can lock in my rate for the amount of HELOC already used. This information is coming too late when the rates have gone up from 3.75% when I first called till now. I should not be responsible if Penfed is not training their team properly. I need them to help me lock in rate based on initial call I made to Penfed requesting the same.

  Business Response

  Date: 12/19/2022

  We received your Better Business Bureau complaint on December 12, 2022. We appreciate the opportunity to address your concerns.
  
  Thank you for choosing PenFed for your home lending needs. Providing accurate information is imperative to our goal of supporting your financial well-being. We apologize that
  during you November 23rd call with our Mortgage Servicing team, our representative incorrectly advised you that your variable rate account was eligible for a rate lock.
  
  Thank you for taking the time to speak with our Mortgage Servicing team again on November 29th to clarify your account was not eligible for a rate lock, and for speaking with our Member Experience an Escalations Analyst about your concerns on December 12th.
  
  We hope you will accept our apologies that we have not provided the best-in-class service you deserve and trust your recent experience does not affect your overall impression of our credit union.
  
  Sincerely,
  Vice President, Home Loans

  Customer Answer

  Date: 12/20/2022

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  Penfed acknowledged I was given incorrect information and will do better in training the representatives. I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  

  Thanks BBB!

  Regards,
  
  *********************

• Initial Complaint

  Date:11/22/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Well, I use to have a checking and saving account with Pentagon Federal Credit Union. Then I fell in financial hardship and in 2010 I filed bankruptcy and the loans I had with PenFed were discharged in my bankruptcy.. So, PenFed closed my checking account and left the saving account open. So, I deposited $300.00 in the account 3 years ago. Now, They wont let me do anything with the money in the saving. Not even withdraw or close the account. I would like to stay a member with PenFed and use my account if not possible I would like my $300.00.

  Business Response

  Date: 12/20/2022

  We received your Better Business Bureau complaint on December 05, 2022. We appreciate the opportunity to address your concerns.
  
  Our records confirm we closed your membership on November 30, 2022 and mailed you the referenced funds by check to your latest address of record. You spoke with a representative that day who confirmed the closure.
  
  We regret the delay in processing your request and for any misunderstanding this caused you. Please contact our Member Services team at ************ if you should have any further questions.
  
  Sincerely,
  
  Senior Vice President, Operations Support

• Initial Complaint

  Date:11/18/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My husband started a credit account with Pen Fed. and without my knowledge he agreeded to have my name on it. He died a year ago and left a balance of $5,111, which is now hurting my credit score. I contacted Pen. Fed. and they stated they could do nothing about it, even though I never gave permission to have my name on the account. Please help! The account is under ***************************, DOB *********.

  Business Response

  Date: 12/09/2022

  We received your Better Business Bureau complaint on November 29, 2022. We appreciate the opportunity to address your concerns.
  
  Thank you for taking the time to speak with our Senior Consumer Banking Member Experience Analyst on December 6th. As confirmed, PenFed submitted an update to the credit reporting agencies on December 5th, to remove you from the account effective September 2020. Please allow between 30 and 60 days to see the change reflected on your credit report.
  
  We hope our actions fully resolved your concerns.
  
  Sincerely,
  Senior Vice President, Consumer Products

• Initial Complaint

  Date:11/18/2022

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On 11/09/22 I received a $300 deposit into my penfed savings account my new balance was $316.56. One 11/10/22 I made ONE payment to Opensky credit card for *****. ONE payment for my Fortiva credit card for *****. ONE payment to my Revvi credit card for *****. ONE payment to my Credit one credit card for *****. And ONE payment to my Merrik credit card for $100.00. My balance with penfed was *****. Penfed had a glitch in their system where the payments were drafted multiple times resulting in overdraft fees and my payments made to my credit cards were reversed or returned and now I have returned payment fees. Penfed has NOT fixed this issue and has NOT refunded me my money. I want my money back AND money for the returned payment charges from my credit cards as this was not my fault and I had money in my account to make all the payments I initiated. It's like I didn't make my payments to my credit cards on 11/10/22 and now I have negative balances stemming from this issue because of penfed. My payments have already been reported as late to the credit bureaus not to mention I have gotten notices that my cards may be closed be cause of the returned payments and negative balances

  Business Response

  Date: 12/13/2022

  We received your Better Business Bureau complaint on November 29, 2022. We appreciate the opportunity to address your concerns.
  
  On November 14, 2022, we experienced an issue posting certain transactions through our Automatic Clearing House (ACH) Process. As a result, some of those transactions were not credited to the appropriate external financial institution accounts. If your payments have not been credited to the requested account, you will need to initiate the transaction again.
  
  We can confirm we reversed the duplicate debits that were withdrawn from your account. We can also confirm the external fees you submitted proof of have been credited to your share account.
  
  We apologize for any inconvenience this may have caused.
  
  Sincerely,
  
  Vice President, Consumer Products

  Customer Answer

  Date: 12/19/2022

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  ***************************
  

• Initial Complaint

  Date:11/16/2022

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I asked PenFed to help me with what is clearly a case of me being scammed by a fake internet merchant. They told me they needed documentation and when I asked them where to send it they didn't respond for over a week. By the time they responded they had already closed the case and awarded my money to the scam artist despite the fact that I received nothing. At best I would like them to apologize and work on their communication seeing as I ran out of time because they waited so long to respond.

  Business Response

  Date: 12/06/2022

  We received your Better Business Bureau complaint on November 27, 2022. We appreciate the opportunity to address your concerns.
  
  We carefully reviewed your account and show the credit card dispute in question was closed in your favor on November 14, 2022. We mailed you a confirmation letter the same day. The $51.98 provisional credit issued on your credit card account is now permanent.
  
  In response to your BBB complaint, our Card Disputes teams called you to discuss your concerns. Please return their call at your earliest convenience if you have any outstanding questions.
  
  We are grateful for your many years of PenFed membership and look forward to continuing to serve your financial needs.
  
  Sincerely,
  
  Vice President, Payment Product Operations

  Customer Answer

  Date: 12/08/2022

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  *******************************