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PENFED Credit Union

Engaged Employer

PENFED Credit Union reviews

3.3

58% would recommend to a friend

(1,038 total reviews)
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James Schenck

58% approve of CEO

51% positive business outlook

PENFED Credit Union has an employee rating of 3.3 out of 5 stars, based on 1,038 company reviews on Glassdoor which indicates that most employees have a good working experience there. The PENFED Credit Union employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

1K reviews
2.0
Apr 15, 2016

Room for improvement

Recommend
CEO approval
Business Outlook

Pros

Higher up positions pay well. Benefits are good. CEO is a good human being who is trying to change the culture. Employs many that truly care about our members and building relationships within the credit unions. Moving to a new corporate HQ in Tysons Corner hopefully by September. Nice perks for those in management, like event tickets easy to come by.

Cons

High turnover. Mid- to lower level positions are not compensated to market standards. Year end bonus opportunity is quite low compared to industry and even other Credit Unions. Culture of micro-managing. Employees not empowered, even at leadership levels, to make simple decisions that typically even lower-level employees could make at other companies. Employee morale is low and many are regularly looking to leave. Thinly staffed for those that actually perform the work, which relies on management to then complete tasks rather than lead. Technology is not up to industry standard and some time away from changing. Work-life balance is preached, but you will often be asked to work late and weekends without extra compensation. New employee training is a work in progress at best.

2.0
Jul 15, 2023
Recommend
CEO approval
Business Outlook

Pros

The pay is pretty decent, you're almost always guaranteed a bonus and you can accrue a decent amount of PTO.

Cons

You're expected to drop everything and focus on the latest fire drill from the c-suite, which is usually weekly. The "leadership" teams just ask how high when the c-suite asks them to jump. They don't lead, mentor or guide their direct reports. Nothing is documented, there are vague illogical processes or protocol you have to follow to get approval from people who have zero expertise or knowledge in what you do but somehow their opinions matter more than yours and the internal policies make doing your job 10x more difficult than it needs to be. An employee threw a temper tantrum and stormed out mid meeting because they didn't get what they wanted. They were recently promoted. That type of attitude is what makes up a majority of the leadership teams, which trickles down into the teams. The environment is toxic and the only metric that matters is what how much money you're bringing in. As you can imagine there is next to no work-life balance. Not flexible about working from home, even though it provides no value.

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PENFED Credit Union Response
2y
We appreciate your meaningful and thoughtful feedback about your experience.
2.0
Jun 29, 2023
Recommend
CEO approval
Business Outlook

Pros

Good pay and benefits, work from home/ hybrid

Cons

We were asked to sign a form stating we needed to exceed or greatly exceed QA standards to keep working from home. "No problem" I thought, I've consistently been in that range for 1.5 years. Then the QA team gets incredibly nitpicky, and standards keep getting higher. Not to mention that now instead of having you graded on your own performance, your graded against everyone else, making it harder to exceed (they don't wanna give everyone the regular raises for doing well, just the best of the best of the best, so now works harder and you're less likely to be rewarded). Interest rates increase, we see increase calls, every townhall meeting brags about our growth and yet I haven't had a flat rate raise to match inflation since the prices of everything began hiking months ago. Members end up getting bounced around and there is not a lot of incentive to actually help because if you take longer than 12 minutes with them, it hurts your handle time which reflects poorly on you.

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PENFED Credit Union Response
3y
Thank you for taking the time to provide thoughtful and thorough suggestions!
Viewing 70 - 72 of 1,038 Reviews

Glassdoor has 1,141 PENFED Credit Union reviews submitted anonymously by PENFED Credit Union employees. Read employee reviews and ratings on Glassdoor to decide if PENFED Credit Union is right for you.