PENFED Credit Union Reviews | Glassdoor

PENFED Credit Union Reviews

Updated August 14, 2017
175 reviews

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2.4
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PENFED Credit Union President & CEO James Schenck
James Schenck
95 Ratings

175 Employee Reviews

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Pros
Cons
  • Work life balance is not promoted (in 8 reviews)

  • Upper management constantly makes changes that do not improve processes (in 7 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (9)

    "Positive change"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at PENFED Credit Union full-time (More than a year)

    Pros

    Truly collaborative teams working together to improve the company and move it forward. Lots of work to be done so can be exciting challenge to be a part of a growing organization. Amazing brand with an honorable mission. Establishing processes and standards not in existence before.

    Cons

    Challenging environment sometimes. Some departments taking longer than others to accept change and make changes which leaves some disgruntled. Management can be disconnected due to poor communication. Sense of moving too fast without proper infrastructure. Old ways of doing things clash with new ways of doing things.

    Advice to Management

    Communicate more effectively to ensure everyone is on board. Mission is great - engaged employees will get us to achieve our goals. Encourage retirements for long time employees who need to pass the torch to others.


  2. Helpful (22)

    "I used to love this place."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at PENFED Credit Union full-time (More than 5 years)

    Pros

    The people (interoffice) can be wonderful. The benefits are good.

    Cons

    WTF is even going on around here lately. Tammy Darvish has wrecked this place. She needs to go. Like, yesterday. She makes poor decisions and does not care about people. Paying the MSRs the big bucks while the rest of us work our butts off for no recognition or financial incentive. It's incredibly disheartening.

    Advice to Management

    Get it together. Go back to the way it used to be. Promote from within. Appreciate your people. Not just MSRs. We all had to be one, we moved on.

  3. Helpful (15)

    "It could be good again"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at PENFED Credit Union full-time (More than 10 years)

    Pros

    Decent benefits including tuition assistance. Liberal personal leave including 10 days for national holidays that can be taken when you prefer instead of when everyone else has to go.

    Cons

    We seem to have lost vision and purpose. It is not all about the numbers, but also about doing the right thing for our employees and members. Growth for growths sake is not healthy. Merge with other credit unions to benefit the membership and growth will occur naturally. We can never be the size of Navy Federal but we can go back to providing better service.

    Advice to Management

    I never thought I would say it, but I miss Frank Pollack. You knew where you stood and had a really good idea where you were headed with him. I now have fears that PenFed will be around for the next 5-10 years unless something really changes soon.


  4. "VP"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in Tyson's Corner, Fairfax, VA
    Current Employee - Vice President in Tyson's Corner, Fairfax, VA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at PENFED Credit Union full-time (More than a year)

    Pros

    I've been at PenFed almost 2 years now and have enjoyed working for a company that has clear goals and plans for the future. It's a very challenging and focus group of executives and employees. Hardly day goes by that I do not hear praise for a job well done for an employee. It's Great to work here but even better to be a Customer.

    Cons

    Management has struggled a little with change to move company away from executive decisions all the time and count more of middle management to do their jobs.

    Advice to Management

    Management keep moving us forward!


  5. Helpful (1)

    "It's not for everyone, but it IS a good place to work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Manager
    Current Employee - IT Manager
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at PENFED Credit Union full-time (More than a year)

    Pros

    The potential for growth of the company is amazing, and there is so much work to be done - which is a strong positive for me.

    Cons

    Leadership can be toothless, but if you do your job well - you are well compensated. Like all IT departments, there are many who don't pull their weight.

    Advice to Management

    Probably that the few new directors need to come down from their cloud and pay attention to what's under their noses. Too much oblivious leadership in the middle-management tier.


  6. Helpful (1)

    "Great Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Friendly employees, incredibly helpful, constant room for upwards growth

    Cons

    Don't have the same type of capital as the big banking industry


  7. Helpful (1)

    "Very employee-centric"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Accounting Analyst in Augusta, GA
    Current Employee - Accounting Analyst in Augusta, GA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at PENFED Credit Union full-time (More than 3 years)

    Pros

    This company is all about taking care of the employees. Good benefits, lots of vacation time, managers are fantastic, lots of diversity, and my position had a work from home option whenever necessary.

    Cons

    The training hasn't been fantastic. The initial training gave a quick overview, but there wasn't much in-depth training. My manager is in another state. He has no problem with me calling whenever I have questions, but more face-to-face training would have been great.
    Also, because this company is so large, all of my coworkers have problems with not knowing who to contact for help.

    Advice to Management

    Better training. Create a contact list of which departments handle specific issues.

  8. Helpful (12)

    "Don't join unless..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Tysons Corner, VA
    Current Employee - Anonymous Employee in Tysons Corner, VA
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I have been working at PENFED Credit Union full-time (Less than a year)

    Pros

    There were plenty and still few departments running great, thanks to capable and smart leaders!!

    Cons

    Long hours with unrealistic expectations and chaotic environment, mostly old trash technology or processes, egos, no flexibility, no work life balance, pretty ordinary salary, no career growth, no tution reimbursements, no maternity leave, biased management who favors and promotes long hours than smart working, and more than that, fully unresponsive HR!!!

    Advice to Management

    Handful of people can ruin the whole organization and its awesome business, Have independent investigation before its too late! Please bring back the fair and respectful environment.


  9. Helpful (8)

    "Look Elsewhere!!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Worker in Alexandria, VA
    Current Employee - Worker in Alexandria, VA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at PENFED Credit Union full-time (Less than a year)

    Pros

    Renovated office. The "worker-bees" are great people.

    Cons

    If you can find other options take it! It's not what they sell you during the interview. The tenured staff are leaving quickly. New management is distant. Their fall will be hard!!

    Advice to Management

    WAKE UP! People are leaving for a reason


  10. Helpful (12)

    "Could be better, could be worse"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analyst/Therapist
    Former Employee - Analyst/Therapist
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at PENFED Credit Union full-time (More than a year)

    Pros

    Coworkers are great people, and it can be a fun time if you're willing to roll with some punches
    Not a bad place to get your feet wet in the industry, if that's your thing
    Probably a pretty cool place to work for executives, if you're into fancy buildings
    Free not-terrible coffee, some free snacks
    Not great to take away perks (remote work, building access through doors more convenient to parking) without giving anything back more substantial than, literally, peanuts

    Cons

    General sense of fatalism and defeatism among middle management, brought about by numerous confounding upper management decisions, seasoned with upper management's general lack of composure and tact in response to any sort of setback
    A borderline sociopathic obsession with audits. Audits are important, but should not drive day-to-day activities to the extent that they do
    Most non-lifers I knew have already left or are looking to leave
    Not a great place to work if you're looking for promotion opportunities or career advancement

    Advice to Management

    Either stop calling yourself a destination employer, or actually act like one
    Stop basing your pay bands on free web sites


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