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      PENFED Credit Union

      Engaged employer

      PENFED Credit Union reviews

      Company Has Lost Its Way – Outsourcing(India), Layoffs, and Declining Culture - IT Department PENFED Credit Union Employee Review

      1.0
      1 Oct 2025
      It department
      Recommend
      CEO approval
      Business outlook

      Pros

      Some great colleagues who truly cared about the work and the members

      Cons

      - Over the last few years, PenFed has quietly shifted its priorities away from employee welfare and member service in favor of cost-cutting through offshore outsourcing. - U.S.-based roles are being outsourced to India, primarily through a partnership with HCL Technologies. Employees are often asked to train their replacements, only to be let go once knowledge transfer is complete. - The IT department has undergone the most drastic change. Much of the staff has been replaced by contractors from HCL Technologies, an India-based outsourcing firm. Employees were not offered roles with HCL or any path to continue employment after their contracts ended. - The outsourcing push was initiated under former CIO Joe Thomas, who has known ties to HCL. His replacement, Jetish, lacks accountability and often deflects blame rather than offering real leadership or solutions.. - Even at the highest levels, leadership appears disengaged. CEO James Schenck occasionally visits headquarters but makes no effort to greet or acknowledge the employees who work hard every day. He walks through the building with his entourage in tow, ignoring the very people who helped build the company - The culture has eroded significantly — transparency is gone, morale is low, and many long-time employees no longer recognize the organization they once took pride in. - Despite the branding and marketing that emphasize community, service, and supporting veterans, the internal reality tells a much different story. Cost-cutting and offshoring have taken priority over people and values.

      avatar
      PENFED Credit Union Response
      7mo
      Thank you for sharing your experience and feedback. We recognize that organizational changes, including outsourcing and restructuring, can be difficult and impact our team members in meaningful ways. PenFed is committed to supporting employees through transitions and strives to maintain a culture of respect, collaboration, and continuous improvement. We value the dedication of our colleagues and appreciate the contributions made by all team members, past and present. Decisions regarding partnerships and staffing are made with careful consideration of our long-term goals and the evolving needs of our members and organization. We understand that these changes may not always be easy, and we are grateful for your candor. Thank you again for taking the time to leave a review.

      Explore other reviews about PENFED Credit Union

      5.0
      25 Mar 2026
      Sr director
      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

      1.0
      8 Jun 2026
      Anonymous employee
      Recommend
      CEO approval
      Business outlook

      Pros

      -Starting salary is competitive -benefits look good on paper -variety of shifts available -occasionally snacks are provided

      Cons

      -inadequate tools to perform job duties -understaffing makes it difficult to get time off thus employees are deprived of compensation they earned -management actively asks for feedback then does not follow through or does the exact opposite -employees are constantly asked to cross-train for additional duties, but these additional duties do not come with an increase in compensation (they skirt around this by putting "additional duties as assigned" in the job descriptions, but at what point does it become unreasonable for employees to continue to absorb these duties without an increase) -bringing concerns to chain of command is ineffective -policies change without notice resulting in employees being reprimanded for providing old information -conflicting information surrounding policies is also an issue -the QA department does not seem to know which agents are responsible for which tasks and will penalize them for not performing a task for which they are not responsible -When you attempt to take concerns to upper management, they try to convince you that you are the problem, not the culture of the company -CEO and upper management's attitude seems to be, "if you don't like how we do things, then you're welcome to leave" -upper management has been known to retaliate when an employee tries to bring issues to their attention -lower management runs out of excuses for why things are so bad, so they absorb their subordinates' frustrations for a time and then eventually avoid employees that complain. I imagine this is very frustrating for them too

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