Pros
Working for PenFed is, technically, a job. You will be paid every two weeks via direct deposit. It will not be enough. You will have benefits. They are terrible. I suppose if your other options are being homeless and/or bankrupt, this may be a preferable choice, unless you have a sweet van or an accommodating spouse/friend/parent. In which case, look elsewhere. ... Although, if you are a morally bankrupt snake oil salesman with no desire for work/life balance, fair compensation, or sunlight, this may be the perfect job for you.
Cons
PenFed used to be a tolerable place to work. This has changed in 2016, and will theoretically be that way eternally. The CEO, James Schenck (pronounced "Skank," how fitting!) is more concerned with making money than serving members, compensating employees fairly, or developing member relationships. PenFed is all about numbers. PenFed is not a credit union. PenFed is a bank, just as deceptive and money-hungry as Wells Fargo, hiding behind slogans like "Best In Class Member Service" and "Serving Our Nation's Heroes". Working for PenFed is an exercise in how to destroy your soul. First, being an MSR is a SALES job. Not only that, it is a sales job with laughably ridiculous numbers. You will be required to obtain four loan applications a day, five checking accounts a month, four auto policies a month, eight credit life/disability policies a month, along with answering eight calls an hour (roughly 64-80 calls a day, depending on your shift) and getting perfect scores on member surveys. You will be required to try and make a sale on EVERY call. Imagine having to sell a credit card to someone who calls in for their account balance or to make a payment on their auto loan. Or, more realistically, imagine having to try to sell a checking account to someone who's screaming at the top of their lungs because PenFed can't do basic things that 99% of banks and credit unions can do in 2016. That will be your job. You will be hounded by management, from the top down, about your numbers. You will be randomly monitored and criticized to bits for the slightest "missed sales opportunity" or for not wording your closing script correctly. In addition to this, you will need to know the ins and out of every product PenFed offers, how the website works, how vehicles are titled, etc. because the only other departments that take member calls are Mortgages and Equity (both of which aren't in all the time that you are, so you'll have to know a bit of that, too!). You also will work on a constant queue, so good luck if you ever want to call a member who lost connection back, follow-up on requests, fix mistakes, etc. You will be discouraged for escalating calls, even when you legitimately can't fix the problem or the member is demanding a manager, and will be tracked and talked to when you do. Of course, all of this occurs while you work in a gloomy, run-down building, packed into tiny cubicles and working with software that hasn't been updated since 2008 or so. You will be given a 30-minute lunch most days, even if you work a 12-hour shift, along with two 10-minute breaks. (If you have generous management, you may get a third 10-minute break on 12-hour days.) You will be talked to by your manager if you get away from your desk for a few minutes to use the bathroom, get water, or have a moment to breathe from the constant monotony. PenFed employees get 20 days of PTO and 10 days of sick time a year, but will be strongly discouraged, implied or otherwise, from taking any of it. PenFed employees do get Blue Cross/Blue Shield healthcare, which is ridiculously expensive and covers almost nothing. The 401k will kick in after six months, if you are unfortunately still there, in which case, PenFed will match 100% up to 4%. You will also get a complimentary life insurance policy that will pay out one year's worth of salary if you decide to off yourself rather than continue working for this oily organization. If you have any other career options, STAY AWAY. Unless you don't value your time, health, happiness, or life.
