PenFed Credit Union W Adams Ave, Temple, Texas

PenFed Credit Union Reviews

2.9 stars based on 42 reviews

Featured Comments:

• E

  Earl Stone

  5.0

  Pen Fed is a safe place for all banking needs and the people are very nice.

• N

  Nikko Smith

  1.0

  My moms husband died. She had several accounts with her husbands name on them-most banks were helpful and she withdrew her money using the death certificate and other legal paperwork-This bank made her wait and come back repeatedly and literally tried to hassle her. this bank has a reputation for doing that . Her lawyer warned her about this bank.

• T

  Tristian Bolongia

  1.0

  Alexandra Estrada Knowingly disclosed me before receiving updated information. She Never sent correct disclosure. Told me on the 11 i wasn’t approved when bank statement was sent on the 9th. Stated on the phone I gave wrong information only later to say she pulled it from application of previous loan application despite speaking to me on the phone. Originally told me PenFed does not offer Homeready until I asked for a supervisor. She stated “the guidelines” did not allow Homeready. Now I am told I meet guidlines for Homeready but not at PenFed. You’re not compliant with Fannie Mae and have changed the loan conditions. This is an automated underwriting system so it should be the same result every time. She consistently changed the terms and misrepresented the products that they offer. I was persistent presenting them with screenshots of their own webpage and the fact that it was updated in 2022 (since previously loan officer told me this was an old post and they no longer offered the product). I was pre- approved by the automated system for $107,000 home. I offered the seller $100,000, and it was accepted, and I gave my earnest money. Then with no change in info , about 10 days in she says the system says I don’t qualify because my debt to income ratio is too high. Then she goes on to say that I gave the wrong info for my income on the application, and what it actually should be. When I finish talking with her and check the original application—the only application-it has the figures that she said should be in there, so, it was always there. So, by what method is the automated system that approved me and my debt-to-income ratio now suddenly issuing a disapproval? Why was she even going through the system or application again 9-10 days in? I FEEL I was discriminated against and that she has thwarted me at every turn. First she says they don’t offer the product. That wasn’t accurate. Then the system pre approves me for $107,000. I make and have accepted by the seller an offer for $100,000. The day before I am to deliver my earnest money she says I need 6 months reserves. She didn’t know this based upon the pre approval for $107,000 but she knows it a week later based on a lower amount of $100,000 ? Say the money was going to be my down payment and closing payment. She lead me to believe I DID NOT need reserves. She actually said it wasn’t true when I said a previous loan officer mentioned something about reserves. Then after the offer is accepted, a week after we had completed applications, closing amounts and the day before I would be delivering Ernest money, she says I need 6 months reserves. She then asks where I will get the closing and down payment. My mother agreed to gift it. So, it was settled. Then after I pay ernest money and after I set the appointment for the inspector I am paying for, she starts with the stuff about the automated system that pre-approved me now says I have too much debt to income when no info was changed or added. She claimed I had said I made more on the application than what I do and stated what the correct amount should be, but when I later checked the original application, it has the exact amount she said it should be. Besides, I didn’t do the application, she did. No new or altered income, and an automated system changes its mind.

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