Probably the most popular credit union on the forum next to NFCU is Pentagon Federal Credit Union aka Penfed. We have seen alot of approvals from Penfed in the past year since they loosened their once very strict underwriting criteria. These increased number of approvals have brought many questions from newer members. So, to make it easier for everyone when trying to decide whether to apply or not, a few of us thought there should be a thread specifically for Penfed approval data.
First of all, Penfed has open membership for anyone who makes a donation to one of the two organizations listed on their site. Membership is a hp on EQ and hp is typically good for 90 days for all products. There have been reports that when reconning a denial or starting limit there can be a 2nd hp. To recon denial or starting limit, the easiest way is to call and ask for a Supervisor. They are also loan officers. And can make a decision on the spot.
Another perk of Penfed membership are the quarterly preapprovals that are given for their products. It has been reported based on old data that if you join Penfed with any derogs, you never receive these preapprovals. However, that is no longer the case. Several members have in fact received these that joined with a derog. Please let us know your preapproval experience.
They are known for their "pyramiding debts" denial reason which is why you will see the Egyptian reference often here. Basically "pyramiding debts" is their interpretation of having alot of new accounts. They view that as potential debt.
Below are the questions that will be very helpful to other forum members. Thanks in advance for your valuable data! 
Product(s) approved and Limit(If approved for multiple products please include date if not immediate)
EQ 08 Fico:
Penfed Nextgen:
Instant or Review?:
POI?(If yes, what type of proof of income)
AAOA:
Derogs?: (If you have a BK please list type and discharge date!)
Util:
Total EQ Inquiries:
Last 12 months:
Last 6 months:
New Accounts in last 12 months:
Last 6 months:
*New cards can be expedited for $15 fee*
Product approved and Limit: Penfed Promise Visa $5k, Penfed Defender Amex $5k, Thrifty Credit Service (Overdraft) $500, Refinance Auto loan 18k @ 2.99%, 2nd Refinance Auto loan $3,600 (2004 model) @ 1.99%
EQ Fico Score: 705
Penfed Nextgen Score: 707
AAOA: 1 year 10 months
Derogs?: 0
EQ Inquiries:
last 12 months: 32
last 6 months: 7
New Accounts:
last 12 months: 24
last 6 months: 5
(Formerly known as: Credit is my hobby (1.6M)/TCL objective)