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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 |
My credit union was just acquired by Pentagon Federal. Because of a "system error", they transferred over $1,000 from my checking account to my savings account. Upon follow-up they turned around and said it was my error and refused to answer other questions I had sent in my email. They also state that because of "system limitations", they will only provide records going back 2 months in their new system. This is absolutely ridiculous. They are doing things on the cheap AND have horrible customer service. Laughable that they ... read more
Business response:
We received your Better Business Bureau review on May 21, 2019. We appreciate the opportunity to address your concerns. We regret your experience during our merger with ***********Federal Credit Union has not met your expectations. We would like to speak with you about your concerns, and have attempted to contact you on multiple occasions but have been unable to leave a message. We also emailed our contact information. Please follow up with us at your earliest convenience so we can resolve this for you. Sincerely, PenFed Cre... read more
I think it is OK. It does not seem very techy and that's the reason I'm leaving. It denied me a loan even though my credit runs between 780-825 it saw it as 723???? I'm moving my money to Schwab brokerage and bank. The web site is slow and the tech support is even slower. Some of the support people are nice. Some are yankees.
Business response:
We were made aware of your BBB Review on May 1, 2019. We appreciate the opportunity to address your concerns. We regret we were unable to approve your request. We hope your conversation with us on May 7, 2019 was helpful and further explained our decision. Thank you for being a valued PenFed member. Sincerely, Senior Vice President/Chief Credit Risk Officer
This company works with no one to help resolve financial hardships. I have reach out to several different individuals in the company to no avail. Now they are threatening to take me to court because I have been paying what I could. Every month I have pay in good faith until I can get back on my feet. I hope no one uses this company and expects to be helped in times of trouble. They have been a nightmare for people needing help...
Business response:
We are sorry to hear of your dissatisfaction with PenFed’s efforts to assist you. We appreciate your efforts to honor your financial obligations. We noted that we offered to explore alternative repayment options with you through our Credit Assistance Program. Regrettably, we did not receive the needed documents to complete the application process. Therefore, our team worked with you to make other arrangements. We would be pleased to explore any and all alternatives available to you in an effort to assist you in rebuilding yo... read more
Incredible!!! I took out a $12,000.00 bill consolidation loan in Jan. 2019 and was told that the first payment wasn't due until Mar. 2019. The bill was due on March 6 and I paid $300.00 on March 5. I checked the account and, to my frustration, only $58.52 was put towards the principle and everything else went to the interest. The $12,000.00 loan had interest put on it initially and the final loan was over $15,000.00. I figured that was doable. The problem is, PenFed charges you $5.00 a day interest!! What kind of **** is tha... read more
Business response:
Thank you for turning to PenFed for your Bill Consolidation Loan. We appreciate the opportunity to address your concerns about the loan. Interest accrues daily on installment loans and is paid first when a payment is received. The remainder of the payment is applied to other charges (if applicable), and then to the principal balance of the loan. Because your loan was disbursed in January, and the first payment was received in March, a larger portion of the payment was applied to accrued interest. We are sorry for any alarm t... read more
Worst bank I ever dealt with in 40 years experience. Looses paperwork multiple times.
They made the process for opening an account incredibly difficult. They nitpicked over the quality of my scanned documents multiple times and drew up out the process of signing up to the point that it took over two months. I'm still not finished signing up due to them never sending me a security code for online access after telling me I already set one up, which I didn't. They wouldn't let me reset it over the phone and now I have to wait for it to arrive in the mail. This is by far the worst experience I have ever had in de... read more
Business response:
We received your Better Business Bureau review on November 14, 2018. We appreciate the opportunity to address your concerns. Thank you for choosing PenFed as your new financial institution. We are sorry you encountered problems with our identity verification process. Thank you for submitting the information we needed. We appreciate your feedback about our PenFed Online banking enrollment procedures. We are in the process of changing to a one-time, passcode verification process and hope to have it available in the near future... read more
PenFed is complete garbage. I used this institution to refinance some student loans and I've been completely unhappy since I've done it. Their website is trash; reminds me of something from the 1990s. They assail you with advertisements while you are logged into your account and even when you contact them with a question the reply email even contains advertisements!!! Customer service is terrible. Upon receiving a refund for the amount overpaid on my student loans it took them weeks to process and rather than subtracting to ... read more
Business response:
We received your Better Business Bureau review on October 8, 2018. We appreciate the opportunity to address your concerns. We are very sorry to hear of your displeasure with PenFed. We strive to provide the best possible programs and services to our members. Our representatives are dedicated to providing you with best-in-class service when you reach out to us. We appreciate your willingness to speak us on October 9, 2018 and expanding on your concerns. We highly value member feedback and use it to make future improvements. W... read more
They are the worst. It took them several go around to properly process my application. There was supposed to be an insurance product as part of my loan and they added the price of the product to my loan amount. They assured me that I had the product and that's the only reason i went with them with the loan. after the loan closed they advised me that the product was not available. They truly are the worst. Stay far away from them as a lender, they are truly amateur hour.
Business response:
We received your Better Business Bureau review on October 5, 2018. We appreciate the opportunity to address your concerns. We are very sorry to hear of your displeasure with PenFed. We strive to take perfect care of our members, but when we fall short, we appreciate the opportunity to make it right. We understand a Consumer Loan Processor called you on October 5, 2018 to discuss your concerns, and they followed up with an email explaining the actions we took to resolve this issue. Please return their call or reply to their e... read more
Having my car loan through PenFed credit union has een the worst decision i have ever made. I have had nothing but issues. Today took the cake. After already making my car payment on the 12th of this month (like every month) ANOTHER payment was taken from my account not an authorized payment. I assumed it would be an easy fix. I work in finance. I figured they would simply reverse the payment as it is essentially an ACH payment there should be no issue. Boy was i wrong. My father is a cosigner on my loan. Im young, and in or... read more
Business response:
We are very sorry to hear of the challenging phone call you recently had with a PenFed representative. Providing a positive experience with every interaction is our primary goal. We regret we did not meet this commitment in our discussion with you. Regrettably, thus far, we have not been able to reach you to discuss this matter and your loan. We will continue to reach out to you, and look forward to the opportunity to offer further clarification and apology.
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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