PENFED Credit Union reviews

Just one negative and it soiled much of my opinion of the company. They lied to us for months that they were strategically slowing down and would ramp back up for 2023. Then on November 1, they began to slowly lay off people one by one. As the day went on, everyone stressed when their time would come. Once I met with the two HR folks, they read a script that was cold, bland and frankly, heartless. Management on down was given the boot despite the hard work we had done and despite how much we made the company. Many were there for a decade or more just to be dropped like a sack of potatoes, before the holidays no less. It truly left a bad taste in my mouth when up until that point I had often bragged about working there.

Micro-management, no transparency, HR was a joke, if you asked hard questions retaliation was common. There is never an easy way to lay off folks but the particular way in which they did so was heartless, no heads up, and they eliminated entire departments. They had told me when I was hired that no one should fear for our jobs because they were a strong stable company and would relocate us before laying us off. That was false. HELOC was incredibly busy during the pandemic up through July 2022. The credit union made its first Billion dollars because of the excess success of HELOCs. They rewarded us not with bonuses but with Tshirts with the company logo mailed to us. Three months of slowed production and they eliminated the entire HELOC department after having 8+ quarters of record breaking profits. This company uses, abuses, and lies about caring for its employees. I was told to not work for this company but they seemed to have changed and convinced me they did. I was wrong to trust them and you would be wrong to trust them too.