What do you know about........

[cydswipe]

Pentagon Federal Credit Union?

https://www.penfed.org/

Another mom at tumbling class was talking about Penfed.org. She refinanced used car loan that was only 48 hours old. Local bank had 8.29% Penfed has 2.29%. She heard about this credit union from a friend. Now they are looking into refinancing their home equity loan....

My husband is telling me this is not legit. Can you scope it out and tell me what you think? We are in the hunt for a new to us car. Would love to save some $, but don't want to get took.. make sense?

Thanks for your time and interest! (no pun intended!)

)

 

[DawnM]

It is a legitimate bank. We were going to use them to refi our house, but one of their loan officers was a bit of a jerk and we were turned off enough to get a different loan.

However, I don't often hear of refinancing an auto loan. Is the rate so much better that you will save interest in the long run or are you just trying to get lower payments and spread it out more?

Dawn

 

[BellePrincessBelle]

Pen Fed is legit. We have a savings account with them.

 

[kimkoz]

It's a real bank. My past car loans were through them and I'll probably use them again. I would never have known about them but my father is military and I guess thats where all his banking is done. He helped me with our first car and now I'll just continue with them. I do have a small savings as well. We do not do more banking just because of no local branch.

 

[wvjules]

It is a legit bank and I am also a member.

Do you qualify to join? You have to be a member before you get any loans.

 

[Gr8t Fan]

We have had accounts with PenFed for about 3 years now. Totally legitimate and great rates on loans and CD's.

 

[Judique]

Pentagon Federal Credit Union?

https://www.penfed.org/

Another mom at tumbling class was talking about Penfed.org. She refinanced used car loan that was only 48 hours old. Local bank had 8.29% Penfed has 2.29%. She heard about this credit union from a friend. Now they are looking into refinancing their home equity loan....

My husband is telling me this is not legit. Can you scope it out and tell me what you think? We are in the hunt for a new to us car. Would love to save some $, but don't want to get took.. make sense?

Thanks for your time and interest! (no pun intended!)

)

This is a legitimate credit union. The 2.99 is for late model used cars.

Go to the website and join. You can become a member quite easily even if you are not military as they offer apps to join groups that are eligible for membership. Also, it may be an internet only rate. Navy Federal has the same rates.

Just an FYI - son did exactly what your neighbor is doing with a new car loan. The car place financed him (21 years old at the time with no credit good or bad) at 12 or 13 per cent. He came home and did an internet loan with our credit union - Navy Fed - at 1.9 per cent. He'd also been a member since birth. They refied the vehicle after one payment had processed, so he was able to keep all the finance dependent rebates,etc.

 

[disneymotherof3]

They are definitely legit! We have our mortgage, both car loans, savings account, and credit card with them. They have always been wonderful to work with.