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PENFED Credit Union

Engaged Employer

Make it make sense - Mortgage Underwriter PENFED Credit Union Employee Review

3.0
May 27, 2023
Recommend
CEO approval
Business Outlook

Pros

Remote work for the most part / have not experienced micro management

Cons

When hired was promised although some departments work 37.5 hours a week that wasn’t the case for mortgage . For the last few months only underwriting has been restricted to work 37.5 hours a week and still expected to hit the same Metrics . Most of the responsibility of the loan falls on us even though 85% of the processors have little to no concept of processing/guidelines or how mortgage in general works. Files are constantly sent incomplete with key pieces of data missing . Unless you ask for something down to the exact wording their management finds a way to blame underwriting. Their work is mostly sloppy and it feels like we are babysitting them most of the time. They’re also allowed to work OT because they’re not able to complete their basic job functions within 40 hours. Updates aren’t communicated - guideline changes/procedures changes outside a general email sent maybe once or twice a month. Pay raises and promotions have been promised and the back peddled more than once for me personally Most of my colleagues log off daily mentally exhausted and riddled with anxiety. Layoffs have happened more than once in 6 months though we were promised it wouldn’t happen after the first time . This really feels like a backfire when they kept hiring last year even though we were adequately staffed .

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PENFED Credit Union Response
3y
Thank you so much for providing detailed, thoughtful, and very helpful feedback. We appreciate you!

Explore other reviews about PENFED Credit Union

5.0
Mar 25, 2026
Recommend
CEO approval
Business Outlook

Pros

Awesome place and people - complex and large finance operation and balance sheet yet still small enough to make an impact and build up solutions from the ground floor - creative place!

Cons

Sometimes can be stretched for more resources

2.0
Mar 16, 2026
Recommend
CEO approval
Business Outlook

Pros

Great staff and middle management. Good benefits and facilities.

Cons

Upper Management - same tune as all the other reviews. This place is full of great people who don't know they are great. It's also full of bad leaders who think they are great. Unfortunately, the best performers are often rewarded with carrying the burden of underperformers and non-contributing leaders. In certain teams there is very limited in upward mobility. They are slow to weed out low performers and ineffective managers. All in, strong performers and high achievers might find this place frustrating. This is a place for those who like to coast through.

3
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PENFED Credit Union Response
3mo
Thank you for sharing your feedback. We appreciate your recognition of our people and benefits, and we value input that helps inform us of our ongoing improvement efforts. We wish you the best in your future endeavors.
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