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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
1.0
Dec 2, 2024

Sinking ship

Recommend
CEO approval
Business Outlook

Pros

It’s a job. Haven’t been laid off .

Cons

If you enjoy working somewhere that functions like a start up then this is your place. Roles that you interact with daily have no basic concept of how to do their job or they’re just lazy or my guess is there’s no accountability . There are resources that have answers to most questions but for as long as I have been here day in and day out you get tenured people asking the most basic questions of guidelines or procedures. If you want to move up don’t work here there’s no career progression. There’s no way to move up or move laterally to a different area . There are people given senior underwriter titles that were just GIVEN the titles . No one can tell you what a senior is or what they do. Everyone across the board gets the same type of loans, complexity , amount of work ect. The favoritism here is just grossly apparent . HR desperately needs to investigate how some of these managers operate . Don’t bother trying to shine if you’re not a favorite then forget getting picked for anything or promoted . The response to equalism is stating they use a randomizer to select who gets the opportunity to cross train. They have people underwriting Spanish files who don’t speak any Spanish but processors who are fluent who do not translate documents or their notes . There have been multiple layoffs most are not announced . There’s been about a handful the last couple years . Those who live near a center are being forced to go back to office while some are completely remote . Pick a lane . Teams cannot function with some in office some not and those of us who are , aren’t in the same teams or aligned with each other . The whole department is a mess .

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PENFED Credit Union Response
1y
We appreciate your transparency. Thank you for taking the time to leave a detailed comment.
2.0
Feb 20, 2023

LAYOFFS

Recommend
CEO approval
Business Outlook

Pros

Good work environment while it lasted

Cons

CEO runs around the nation on his private jet telling everyone how good they are doing - constantly setting new records and how much they plan to grow - spoke about how important the employees were to him - then put us out on the street with an early morning surprise - Management is about perks like private jets and bettering themselves - they don't really care about anything else

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PENFED Credit Union Response
3y
Thanks for your feedback. We support impacted employees during their transition and treat them with respect and care. We are committed to ensuring that we strategize and walk through each change with soundness and consideration for our employees.
1.0
Jan 14, 2020
Recommend
CEO approval
Business Outlook

Pros

PenFed is full of amazing people who sincerely care about taking care of the member and their team. The mission to support our miltary communities is laudible. The benefits and time off are great. The payscales have improved significantly in recent years which makes the wages competitive.

Cons

Development and advancement opportunities have always required relocation unless you lived in VA, and now TX. Recent changes to the charter, mission and strategic intents have watered down the community that we used to serve. It feels more and more like a bank and less like a community support and service network. It's hard to feel proud of serving our military members and those who support them when we have an open charter and the mission continues to move away from them. Toxic upper leadership. Directors and up are inauthentic, insincere, and are either actively lying to the CEO based on his recent messaging to the credit union employees, or the CEO is complicit in the dishonesty permeating the institution. Directors and VPs have actively discouraged questions or concerns from being asked or evaluated in recent months. They have sidelined long term employees, categorizing them as people who "just don't like change", without considering their input. This has led to a severe drop in employee engagement as people who have been around long enough to know our culture, system and mission are consistently overlooked, downsized, ignored, or actively antagonized until they either leave or lose any respect for the leaders and institutions.

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PENFED Credit Union Response
6y
We always appreciate our employees’ feedback and thank you for your candid review. It can be difficult to maintain transparency as well as workplace confidentiality and we strive to include colleagues in many decision making processes. Our business is ever-changing and we value the voice of every teammate as we evolve. We encourage you to reach out to your HR representative and we will use your comments and feedback to assist us in the future.
Viewing 82 - 84 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.