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.

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• 

  PenFed Credit Union

  McLean, VA 22102-3381

• 

  PenFed Credit Union

  2930 Eisenhower Ave Alexandria, VA 22314-4557

• 

  McGraw-Hill Federal Credit Union

  120 Windsor Center Dr East Windsor, NJ 08520-1407

• 

  Penfed Credit Union

  1199 N Eglin Pkwy Shalimar, FL 32579-1252

• 

  PenFed Credit Union

  701 W Central Texas Expy Harker Heights, TX 76548-1618

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:10/10/2022

  Type:Product 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 need a investigation done on a Violation of my rights and a vehicle contract and also fraud !! In January of this year I refinance my vehicle with this credit union. And I never received the title to my vehicle with them being the Lien holder? So I have been calling and requested this for months. I recently received the email below stating there was a error or there end and can I send in the Original title that’s something that I can do cause I don’t have it they were supposed to provide that to me once they received it from the prior lienholder it sounds like someone’s not doing their job we have been making car payments this institution a how are they able to except that if they’re not the lien holder? Did is against (Maryland) Law and I demand answers.. One this pass Friday Oct 7 2022 I spoke to a very nasty and Incompetent employee if theirs she told me it’s my fault for this mishap and that they was going to take my vehicle and I said how if your not the lien holder ? I asked her to send me the Original contract documentation from when they pay the other institution witch was *** ? The title information that they sent to the MVA Because if they made an error why do they need me to send it original title if they have it and was able to send it to the MVA.. I will be Seeking legal advice about this matter this is violating several Consumer rights and laws. I DEMANDED A FULLY REFUND AND I FREE AND CLEAR TITLE AND HAVE THIS DELETED FROM MY CREDIT REPORT.

  Business Response

  Date: 10/25/2022

  
  We received your Better Business Bureau complaint on October 11, 2022. I regret to hear of the ongoing issues with the title for your 2020 ********* ******** and I appreciate the opportunity to address your concerns.
  
  As you may recall from our June 10, 2022 response to your complaint with the Consumer Financial Protection Bureau (CFPB), we received your vehicle’s title, obtained the necessary lien release from the prior lienholder, and submitted the documents to the Maryland Motor Vehicle Administration (MVA) to record our lien in May 2022.
  
  On September 21, 2022, you notified our Senior Manager that you had received the title from the MVA without PenFed’s lien. This was not a PenFed error, but rather an error on the part of the MVA. Our Collateral Control team followed up by email on September 23rd to request that you mail the title to us to proceed with the necessary lien placement.
  
  Our Member Services team emailed you a copy of your auto loan’s Promissory Note on October 7, 2022. When you signed the note and took out the loan, you agreed to the terms of the loan, which include the following:
  
  I agree to help you do all that is necessary to protect your security interest in the collateral. As such, I agree to apply for and provide you with a Certificate of Title or any other document constituting proof of ownership of the collateral and your interest in it. I further agree to furnish you with such information and execute and deliver such documents and take any and all action necessary and appropriate to establish, perfect and maintain your valid and prior security interest and lien in the collateral. I will be responsible for the cost of recordation.
  
  PenFed has made every effort to assist you with placing our lien on the vehicle’s title. Since the Maryland MVA returned the title to you in error, we will ask that you mail the title to us for proper lien placement. This error on the part of the MVA does not absolve you from fulfilling your responsibilities under the loan terms, nor does it provide cause for us to remove the account from your consumer credit report.
  
  If you no longer have the title in your possession, please apply for a duplicate title with the Maryland MVA reflecting PenFed’s status as lienholder. If you have any questions regarding this process, please feel welcome to contact Collateral Control Senior Manager Andrew G**** at ###-###-####.
  
  Sincerely,
  
  Vice President, Consumer Banking
  

  Customer Answer

  Date: 10/27/2022

  [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 I did exactly what I was supposed to do. I provided Pen Fed with the original title between Pen Fed and MVA I don’t know what happened to the title between those two transactions. I have nothing to do with that. Pen Fed needs to investigate it with the MVA so they can send me a title with them as being a lien holders. 
  
  Regards,
  
  ***************************
  

• Initial Complaint

  Date:10/05/2022

  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.

  ***************** **************************, Chino Hills, CA ******** Account/Membership# ************ Auto Loan# ********-80-0 Oct. 5th, 2022 I would like to appeal for the decision that PenFed made on Sep. 12th, 2022 for my 2-month late payment credit bureau dispute. We would like to submit this dispute for the case to be re-evaluated. We were NOT getting any past due notifications from PenFed via mail and feel there is a consumer right missing under the Truth-in-Lending Act and the Periodic Statement Rule, and the Federal Electronic Signatures in Global and National Commerce Act. PenFed placed everyone who opens a new loan in e-Statement right off the bat. We do get publication and marketing mails from PenFed periodically, which is why we never would have imagined being on paperless statement and not getting any past due notification. Also, I have never been asked to sign to opt out the choice of receiving the paper statements or past due notification, which is not allowed based on National act of commerce. We got a new loan on March 25th, 2022; made on time payments for May & June, where we tried to setup auto-payment which seems to have not taken affect for some reasons. We found 2 auto payments were missing not by any past due notice that PenFed sent via mail but by our credit report via ****** *****. Once we noticed the missing payments, we paid PenFed right away on Sep. 6th, 2022. Per our phone conversation with PenFed rep. ******** he mentioned that PenFed called in to provide payment failure or late notice via phone. However, the number (ends ****) that PenFed called was NOT correct. This was NOT the number that we had put in this new car loan (the # should be ends ****). PenFed had our NEW number on file but was never used because supposedly the old number supersedes what we put on the new application. There are a lot of service/collection errors on PenFed side caused the long delinquent and hope we can get these 2 late payments removed from credit report.

  Business Response

  Date: 10/13/2022

  We received your Better Business Bureau complaint on October 7, 2022. We appreciate the opportunity to address your concerns.
  
  Thank you for taking the time to speak with our Consumer Banking Member Engagement team regarding this matter. We trust the phone call helped answer your questions,and we encourage you to reach out to them if you have any additional concerns.
  
  Thank you for allowing us the opportunity to assist you.
  
  Sincerely,
  
  Senior Vice President,Consumer Products

• Initial Complaint

  Date:10/04/2022

  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.

  This credit union's fraud department/customer service department has been giving me the run around for two months. I tried to open an account and deposited $105,00 by transferring it from my other bank account. They acknowledged receipt, I attempted to transfer additional monies but due to a timing issue with my other bank it was refused and PENFED locked my account, I have been trying to get this corrected for nearly two months, I contacted them and was requested to submit documents to them to have the account lock lifted. I did as requested, however, when I did I was told they were insufficient. Even though I submitted exactly;y what was requested, I talked to them today and was told that I must submit a selfie with my driver's license picture under my chin. I explained that my Wisconsin driver's license (which I applied for on Saturday) does not have my picture and the permanent license that will have it, will likely not arrive for 6-8 weeks. They said they would not accept my federal government employee id unless it was military. They told me there were no other options and refused to transfer the money less a thirty-dollar fee that I acknowledged they were entitled to, back to my account it originated from. I have uploaded a package of documents including the forms requested at the time on four or five occasions only to be told to do more. All I want now is to end the relationship but I am being told I cannot do this either unless I keep complying with their demands. I have so far submitted copies of my other bank's account statement, a letter from my local branch at this bank stating I have this account with them, a copy of the front and back of my SS card, copy of the front and back of my Florida DL (which was turned in on Saturday when applying for my WI DL), a letter explaining why the situation occurred in Aug which caused the initial problem and a copy of my electric bill at my current address. All I want is to sever my relationship and get my money back

  Business Response

  Date: 10/20/2022

  We received your Better Business Bureau complaint on October 7, 2022. We appreciate the opportunity to address your concerns.
  
  Thank you for taking the time to speak with our Consumer Banking Member Engagement team on October 19, 2022 regarding this matter. We trust the phone call helped provide resolution, and we encourage you to reach out to them if you have any additional questions or concerns.
  
  Thank you for allowing us the opportunity to assist you.
  
  Sincerely,
  
  Vice President,Enterprise Fraud Operations

• Initial Complaint

  Date:09/27/2022

  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 the week of July 9th, my wife and I both applied for and were approved for individual Penfed credit cards and savings accounts. We responded to an online advertisement that promised a "$100 bonus statement credit when you spend $1,500 on purchases in the first 90 days of account opening." for the credit card. We both met this requirement at roughly the same time, but her statement credit posted and mine never did. As of my statement closing on August 6, 2022, I have made $2,590.35 in purchases. I am entitled to the $100 bonus statement credit but haven't received it yet. Why did my wife, but not me?

  Business Response

  Date: 09/29/2022

  We received your Better Business Bureau complaint on September 28, 2022. We appreciate the opportunity to address your concerns.
  
  Thank you for taking the time to speak with our Consumer Banking Member Experience team regarding this matter. We trust the phone call helped address your concerns, and we encourage you to reach out to them if you have any additional questions.
  
  Thank you for allowing us the opportunity to assist you.
  
  Sincerely,
  
  Vice President Payment  Product Operations

  Customer Answer

  Date: 09/30/2022

  [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. This was entirely my mistake, and ***** from Penfed researched the issue and explained what happened to my satisfaction.
  
  Regards,
  
  *****************
  

• Initial Complaint

  Date:09/27/2022

  Type:Service or Repair 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 have ****** 2013 Car financed from PenFed Credit Union and I have been paying all payments without any delay for almost 5 years since the first installation. We moved to Seattle from North Carolina 9 monts ago and we are trying to transfer our car registration here to Kirklan-Washinton but Penfed is failing to send the Fax of Title (or itself ) to transfer the car here. We have been calling more tahn 10 times last 3 months and everyone on the phone saying different things and they are referrig us to NC-DMV couple of time and NC-DMV keep saying that it is not their issue... So, as a result we can not drive the car here for last three months and we have been paying more than $1000 dollars transportaion and uber fee every month because of that. Can you please help us on that?

  Business Response

  Date: 10/03/2022

  We received your Better Business Bureau complaint on September 28, 2022. We appreciate the opportunity to address your concerns.
  
  Thank you for taking the time to speak with our Collateral Control team regarding this matter. We trust the phone call helped address your concerns and we encourage you to reach out to them if you have any additional questions.
  
  Thank you for allowing us the opportunity to assist you.
  
  Sincerely,
  
  Vice President, Consumer Banking

• Initial Complaint

  Date:09/26/2022

  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 was sent an application from Pen Fed Gold credit card in June 2022. There terms were 15 month 0% on new purchase. Also 15 month 0% on balance transfers. Interest rate is from 11.49 to 17.99 after 15 months. I first used the card in July of 2022. I received my statement ended on 7-10-22. No interest charged. I received my statement ended 8-10-22. No interest charged. I received my statement needed 9-10-22. I was then charged 62.03 in interest. I believe someone change the terms of my Pen Fed GOLD card to the terms from Power Cash Rewards **** Card in August 2022. The terms of this card is 100 bonus cash credit if I spend 1500 in first 90 days. As stated on your website. This charges interest from the beginning. I have called 4 times regarding this issue. I was told a ticket would be filed. Nothing was done. I have not been contacted by anyone. I would like the original statement terms applied to my credit card.

  Business Response

  Date: 10/03/2022

  We received your Better Business Bureau complaint on September 28, 2022. We appreciate the opportunity to address your concerns.
  
  Thank you for taking the time to speak with our Consumer Banking Member Engagement team on October 3, 2022 regarding this matter. We trust the phone call helped address your concerns, and we encourage you to reach out to them if you have any additional question.
  
  Thank you for allowing us the opportunity to assist you.
  
  Sincerely,
  
  Vice President Payment Product Operations

  Customer Answer

  Date: 10/06/2022

  [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: I was not given my terms listed on the brochure sent to me by PenFed. I was only told I was not eligible for the same terms that started in July. I received my credit card in end of June. I did not use this card until July. The same month I was told these incentives began. I actually called to verify terms and interest in July BEFORE I ever used the card on July 6. Oddly enough I say the brochure states new credit card incentives yet I am not able to receive the same incentives two weeks later. There are other penfed customers that had this same issued happen to them. This company is not to be trusted at all.  
  
  Regards,
  
  *************************
  

  Business Response

  Date: 10/19/2022

  Dear member,
  
  We received your Better Business Bureau complaint on September 28, 2022. We understand you had more questions to our October 8, 2022 response and we appreciate the opportunity to address your concerns.
  
  Your Gold credit card account was established in June 2022. On July 1, 2022, we began offering a 0% introductory APR on purchases made the first 15 months after account opening. Because your account was opened prior to July 1st, it did not qualify for this promotion. Please note the promotion terms are based on the date the account was opened, not the date it was first used. The disclosure you provided with your complaint was dated September 2022; it was not the disclosure we provided when you opened the account.
  
  You were not charged interest on the July 2022 statement because this was the first billing cycle, and no payment was due in July. You were not charged interest on the August 2022 statement either because you paid the July 2022 statement balance in full prior to the August due date. You did not pay the August 2022 statement balance in full, so you were charged interest on the September 2022 billing statement.
  
  We were happy that you qualified for the  Gold card promotional offering of a $100 statement credit if purchases totaling $1,500 or more were made within the first 90 days of the account opening. We credited your account for the $100 on the August 2022 statement. 
  
  I hope this information is helpful and addresses all your concerns.
  
  Sincerely,
  

  Vice President, Payment Product Operations 

• Initial Complaint

  Date:09/26/2022

  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 Aug 10, 2022, my wife and I applied for a $200,000 Home Equity Line of Credit (Application # **********). We submitted in a timely fashion, all the required documents for processing. We where informed about the denial by the underwriter because of an issue of Primary Residence. My wife is currently living in an apartment in Ashburn VA until she retires in Jan 2022 and relocates to our primary residence in Odessa, FL. I live in the Odessa Fl home but go back to visit my wife until she relocates as I explained to my loan processor Angela T*****. I have all of our Odessa FL utilities being mailed to my wife's VA address since she pays the bills. Therefore, since the Odessa utility bills had an Ashburn VA mailing address, the underwriter did not believe that the Odessa Fl home is our primary residence. The reason for denying the HELOC is absurd. My wife and I have over 810 credit scores, currently have $375,000 sitting in a Pentagon Federal Credit Union Money Market, over $1 Million in other verifiable assets, two military pensions, two VA disability pensions, and our Odessa home would have easily appraised at the value required to proceed with processing the HELOC. PenFed wanted to charge us for an appraisal before processing by the underwriter. However, I requested that the underwriter provide a conditional approval before the appraisal. Three weeks later, I called to ensure further documents where not needed and was then informed about the denial."They forgot to inform me" I was told via an email. I'm very disappointed as I have been with PenFed for 25 plus years, finance five cars, and have held hundreds of thousand of dollars in their accounts. Also, I'm confused as to how a HELOC is denied when the home itself is the collateral used to secure the loan. I guess that had I simply changed the mailing address on the Odessa FL utilities bills, I would have been approved? I plan to remove all my funds from PenFed and bank somewhere else. 

  Business Response

  Date: 09/29/2022

  We received your Better Business Bureau complaint on September 28, 2022. We appreciate the opportunity to address your concerns.
  
  Thank you for discussing your concern with our Home Loans Member Relations team on September 28, 2022.  We will be following up with you directly with more detailed information soon and we encourage you to reach out to them if you have any additional questions or concerns. 
  
  Thank you for allowing us the opportunity to assist you. 
  
  Sincerely,
  
  Senior Vice President, Mortgage Chief Operating Officer

  Customer Answer

  Date: 09/29/2022

  [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:09/21/2022

  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 got the car in April 23,2022 my first payment on the car wasn't due until June 7,2022 I paid $2,295.60 on May 5,2022 for 5 months. I made a payment on September 2,2022 of $920.54and also $25.00 they rejected the payments again on September 8,2022, and added on $75.00 in rejection fees because of stopped payments that I didn't stop. I recently made a payment on September 14,2022, in the amount of $920.54 and a rejection payment of $25.00 also on September 14,2022. I seen in my account that PenFed Credit Union had both payments processing in my bank account transaction. On September 19,2022 I seen that both amounts in my account that was suppose to been taking out for the two payments I made was took out and the amount was reversed back into my account. I call Penfed because I seen on they site I pay the carnote I had two messages stating that it was stopped payments. I talked to my bank and asked why are payments being stooped from my account if I never called to have any payments stopped and my Bank told me it wasn't coming from they end and to contact Penfed and I ''called, PenFed and 'asked'' why my payments was stopped and they said it could of been me or my bank I told them no that was my first time calling my bank too see why my payments keep getting stopped. I even made the payment on the phone with one of Penfed workers and the amount of $918.24 and a $25.00 rejction fee.payment was stopped and they added on a $75.00 rejection fee. So I made a nother payment on Sept 20,2022 in the amount of $918.24 and a payment of $25.00 on the same day. I'm waiting to see if they gone to accept my payment or reject it and add on extra fees.and say it wasn't on they end. My Next payment is not due until 11/7/2022 I tried to pay two months so that would made my next payment would of been Jan 7,2022.

  Business Response

  Date: 09/26/2022

  We received your Better Business Bureau complaint on September 26, 2022. We appreciate the opportunity to address your concerns.
  
  Thank you for taking the time to speak with our Consumer Banking Member Experience team regarding this matter. We hope the phone call was helpful. We received your ************************************ complaint on September 21st, and will be responding there.
  
  Thank you for allowing us the opportunity to assist you.
  
  Sincerely,
  
  Senior Vice President, Consumer Products

  Business Response

  Date: 10/01/2022

  We received your Better Business Bureau complaint on September 26, 2022. We appreciate the opportunity to address your concerns.
  
  Congratulations on your recent auto purchase. I am sorry to hear about the recent difficulties you encountered trying to make your loan payments.
  
  Thank you for taking the time to speak with our Consumer Banking Member Experience team regarding this matter on September 23, 2022. I hope the call provided clarification on why your payments were returned to us by your bank as stopped. I understand you spoke with your bank again, and they confirmed future payments should process without issue.
  
  As a courtesy, on September 23, 2022, we refunded the four returned ACH fees.
  
  I hope this information is helpful and our actions have fully resolved your concerns. Thank you for being a PenFed member.
  
  Sincerely,
  
  Senior Vice President, Operations Support

  Customer Answer

  Date: 10/04/2022

  [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:
  
  Regards,
  
  *********************
  

• Initial Complaint

  Date:09/08/2022

  Type:Service or Repair 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.

  Was working with srun p*** on a home loan but he is unresponsive to emails or phone calls. Called Penfed to request someone else and after being transferred around was hung up on

  Business Response

  Date: 09/14/2022

  We received your Better Business Bureau complaint on September 13, 2022. We appreciate the opportunity to address your concerns.
  
  Thank you for taking the time to speak with our Home Loan Relations team on September 13, 2022,regarding this matter. We trust the phone call helped provide resolution, and we encourage you to reach out to them if you have any additional questions or concerns.
  
  Thank you for allowing us the opportunity to assist you.
  
  Sincerely,
  
  Senior Vice President, Mortgage Chief Operating Officer

• Initial Complaint

  Date:09/08/2022

  Type:Product 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.

  Every time I request for the Dividends from my 5 money market accounts to be sent be sent to my external bank & credit Union accounts on the Pen Feds online account for some reason keeps changing back to send a check because the last time I complained a month ago Penn Fed sent these Dividend checks USPS to my residence which I did not request I have contacted this credit union 3 or 4 times hoping that this credit union would rectify this issue, I called back today 9/8/2022 9:00 AM and complained once again because I received a e mail letting me know that these money market Dividends have been sent out, so when I went back to check my on line account it showed that the amount was being paid by check instead of being sent electronically to my external bank and credit union accounts, as requested.

  Business Response

  Date: 09/19/2022

  We received your Better Business Bureau complaint on September 10, 2022. We appreciate the opportunity to address your concerns.
  
  We sincerely apologize for the technical issue we are experiencing currently with Money Market Certificate dividends being mailed by check, rather than being transferred electronically. Our Information Technology (IT) department is aware of the issue and is actively working toward a resolution.
  
  In the meantime, we encourage you to set your certificate dividends to be transferred to another PenFed account in your name. You may then transfer the funds to your external financial institution as desired. We realize this is not ideal, but we hope it can alleviate your concerns with receiving paper checks until the technical issue is resolved. Please contact us at ************ if you need assistance updating your dividend options or establishing the external transfers.
  
  Thank you for taking the time to write with your feedback. We value every opportunity to serve you.
  
  Sincerely,
  
  Senior Vice President, Operations Support

  Customer Answer

  Date: 09/22/2022

  [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: its still showing that you can make transfer Money Market transfers to external banks so instead of FIXING it ASAP so the customers can without any issues and complaints Penn Fed insist that the customers transfer to their accounts only which is what I already did the other day because I have NO other options and the same time making the customer go back and forth to DOUBE CHECK every time to make sure that this issue didn't CHANGE on its own or maybe someone at Penn Fed is making these changes I don't know and why is it so had for Penn Fed to send out E mails to us customers that their system is not working correctly or at all instead of sending out emails that they have new rates every time there is a rate change. And since I am STUCK with these Money Markets and can't close them out due to being penalized and wanting to take my business elsewhere, because of the ****** system that we the customers are IMPATIENTLY waiting to get fixed because this customer patience has just about had it with Penn Feds Lousy service and DRAGGING their feet at getting these IT issues FIXED here in the 21st century along with the incompetence of Penn Feds customer service who puts you on hold of up to 25 mins while periodically checking to see if your still there while waiting to get an answer for the customer as to why their Dividends CHANGED from external account to check.
  
  Regards,
  
  *********************