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PenFed Credit Union
- Credit Unions
- Louisville, KY
About this business
Our mission isn't simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, but to also encourage. We exist to usher their dreams into the land of reality. And that's why we strive to provide consistently Best-in-Class rates on car loans and home mortgages. In addition, our portfolio of award-winning credit cards offers incentives and innovative features that our competitors find hard to match.
Location details
1101 Grade Ln, Louisville, KY, 40213, United States
Get directions| Weekday | Schedule | Status |
|---|---|---|
| Mon | 8:30 a.m. to 4:00 p.m. | |
| Tue | 8:30 a.m. to 4:00 p.m. | |
| Wed | 8:30 a.m. to 4:00 p.m. | |
| Thu | 8:30 a.m. to 4:00 p.m. | |
| Fri | 8:30 a.m. to 4:00 p.m. | |
| Sat | Closed | |
| Sun | Closed |
I have a useless HELOC I can't access. I started the process of increasing the limit of my existing HELOC in June when contacting the Mortgage department on how to do this they informed me that they couldn't increase the limit I would have to reapply for a new line of credit. Sounded like a lot of useless work but I accomplished this task by being persistent and calling every 5 days. I was told to close the old HELOC to be able to pass through underwriters. I closed on the new HELOC and can see the account on the "new and im... read more
Business response:
Hi Thomas, thank you for submitting your feedback. We sincerely apologize for any inconvenience caused by the current inability to advance funds, and we understand a change like this can be frustrating. We are always looking for opportunities to improve our processes, and appreciate you taking the time to review.
Pen Fed has a new mortgage web service system. Mortgages are now called a “Home Loan”. As an established member who has paid my mortgage with automatic payment direct from another Pen Fed account, they have now stopped all former automatic payments. You must call them to set up a new payment - not allowed to do on the mobile app nor the full website. No notice that this was going to happen. Payment never went out on 15th. Due next 1st of month. Been on hold longer than an hour for two days running. Emails gone unanswered. Le... read more
Business response:
We apologize that we were not immediately able to complete your September payment request due to the recent upgrades to our mortgage servicing system. We recognize this update was not immediately helpful, but we hope it demonstrates our dedication to continually improve the products and services we offer. We hope your recent conversation with a phone representative was helpful and resolved all your concerns. Though we wish your experience had been more positive, we appreciate that you brought this matter to our attention.
I have been a Pen Fed customer for almost 7 years, I have a mortgage with Pen Fed and have been refinancing with my bank to simplify future transactions. The new lender has been trying to obtain a Pay-ff from Pen Fed since 8/18, for almost a month, we are trying to close my loan and this is the only item that is holding up my closing. They asked me to help last week and I called on 9/4, on hold for 1 hour, and once I spoke to someone there, they stated they would process right away and had no previous requests. It is now 9/1... read more
Business response:
Hi Ray, we're so sorry to hear you've had a negative experience and sincerely apologize about the delays. We hope you have received the information you were waiting for, but if that is not the case, or if there is anything else we can assist with, please email us at comments@penfed.org. We appreciate your feedback.
Recent experience has been BAD. I’m under strict contract with a new construction home builder and have tight time deadlines we must meet in order to not default on the contract and lose $5000 that’s in escrow. Initial contact with my loan officer was great, but since the loan process has been kicked off, it’s been hard to get a hold of anyone from PenFed. We’ve already missed one deadline because PenFed was not able to provide a loan approval in a decent time. I spoke with the builder and they were able to give us an extens... read more
Business response:
Thank you for choosing PenFed for your mortgage needs. We regret we have not provided you with the superior service you deserve, which includes maintaining open and consistent lines of communication during your mortgage application process. I apologize for any initial inconvenience this caused. We noted we were on track to meet your expected closing date. Unfortunately, you requested to withdraw the application on September 25th due to a change in purchase plans. We hope this situation will not deter you from considering u... read more
I am a Realtor that was working with PenFed on a deal for 2 1/2 months. 2 weeks before closing, they denied the loan for my client with no clear explanation. My client was having a house built, and now has nowhere to live. They were extremely unprofessional by not returning calls or emails explaining what happened with the loan. I will never work with them again and will tell all my clients the same.
Business response:
Hi Delicia, we are so sorry you and your client have had a negative experience. We strive to provide best-in-class service for all our members and we regret this was not the case in your situation. Feel free to send an email to Comments@PenFed.org with a bit more information, or have your client submit their name and phone number. We would be happy to forward to our mortgage team directly to review what happened.
Honest Car Payment helped Clinton, a PenFed customer save $6,200 by refinancing his car with a different lender. We paid off Clinton's car six weeks ago, and we still do not have the title!
Business response:
Please ask the PenFed member to contact us directly. We will be happy to assist them in resolving this matter.
A year ago my old NRA Visa Card (Omaha) was bought by PenFed, and I was notified of this. I had not used the Visa in a couple of years so I took no action. I got a new credit card in the mail and cut it up, along with the old Visa. Got a statement in the mail some weeks later about my new account with PenFed, with I think, a $5 balance. Emailed and said I had not authorized the creation of an account, please close it. They asked questions I could not answer, and wouldn't close the account. Started getting lots of junk mail (... read more
Business response:
We received your Better Business Bureau review on August 21, 2020. We appreciate the opportunity to address your concerns. We removed you from all future PenFed and affiliate marketing solicitations. Member name and address information is provided to our mail house in advance of some mailings, so some marketing material may still reach you in the next one to two months. Please be assured we have not sold your information to third parties. We are disappointed that you elected to close your PenFed credit card and membership,... read more
I would like to think I am a dependable 27 year old customer with 0 debt and a good number of credit lines and limit. Considering the details they have of me they know I would have 0 issue paying the auto loan that I applied for. When I called I was told I got rejected due to the fact that I do not have a 100 year old credit history(limit credit history of 36 months apparently). They also said that to get the loan that I would need to have a co borrower which makes no sense whatsoever. Not only that they sabotaged my ability... read more
Business response:
We received your Better Business Bureau review on August 20, 2020. We appreciate the opportunity to address your concerns. We are grateful you considered PenFed for your auto loan needs, and regret we were unable to approve your recent application. Because we received your authorization to review your credit, we are unable to remove our inquiry. We understand your disappointment with our decision, and hope you will keep us in mind in the future. Sincerely, Vice President, Credit Risk Operations
What a sleazy operation. I applied for a HELOC, after nearly 3 months they tell me that my "free" appraisal is going to cost $490. After I reluctantly agree to it, they said, "our mistake, it's actually $1,000 because you are in Hawaii". What a waste of time. The best part of the experience was they sent me letter explaining that my credit score was only 1 point below the maximum allowable. I had to join their credit union to apply for the HELOC. I think that was the only point of their HELOC marketing machine. I'm never goi... read more
Business response:
We received your Better Business Bureau review on August 12, 2020. We appreciate the opportunity to address your concerns. We would like to thank you for considering PenFed for your mortgage needs. However, we regret any inconvenience you experienced during your application process, and that you feel we have misled you in any way. Unfortunately, we are unable to locate your application with the information you provided. At your earliest convenience, please contact our Mortgage Department at 800-970-7766 and we would be happy... read more
Frequently asked questions about PenFed Credit Union
How is PenFed Credit Union rated?
PenFed Credit Union has a 1.2 star rating with 205 reviews.
When is PenFed Credit Union open?
PenFed Credit Union is closed now. It will open on Monday at 8:30 a.m.
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