Chief Executive Officer, Chicago Patrolmen’s Federal Credit Union
Chicago Patrolmen’s Federal Credit Union was established in 1938 as a “blue shirts” organization open only to police officers on the beat. Today, the Credit Union serves officers of all ranks and their immediate family members. Led by CEO Scott Arney since 2002, the Credit Union has achieved substantial growth during that time. In 2008, the Credit Union opened Police Mortgage, a wholly owned subsidiary created to originate mortgages for Police Officers and their families. In 2014, the Credit Union introduced its marketing division, National Police Credit Union, which is the first and only full-service financial institution serving law enforcement officers and their families across the country. The Credit Union is and always has been administered by a Board of Directors comprised entirely of working and retired police officers.
Under Arney’s direct leadership, Chicago Patrolmen’s FCU has achieved the following:
–Grown into a true full-service financial institution
–Increased assets from $137 million to $585 million
–Increased loans 400%
–Increased membership from approximately 14,000 to over 38,000 members
Arney co-founded the Police Credit Union Conference, which led to the formation of an association of law enforcement credit unions from across the country. Additionally, Arney founded and opened the Credit Union’s Financial Planning and Education Center, which includes exclusive alliances with MAF Companies to help fulfill members’ financial planning needs, Liberty Mutual through the TruStage program, and Gwen’s Helping Hands to assist members with budgeting and debt management. Members now have the opportunity to meet with seasoned professionals with over 130 combined years of financial planning experience, each of whom is knowledgeable about the specific challenges and obstacles facing police officers and their families. Areas of expertise are offered for everything from retirement planning and investing, to credit repair and debt mediation services, financial protection, college savings, estate planning and insurance.
One of Arney’s most meaningful accomplishments to date is his work serving on the Chicago Police Memorial Foundation, a not-for-profit organization dedicated to honoring the lives and memories of our fallen heroes. Part of the founding committee, Arney served as the Board’s first President, from 2004 to 2007, and he spent a total of ten years helping to turn a dream into a reality. In fact, the organization is so close to Arney’s heart, the credit union provides office and conference room space for their staff and Board Members free of charge.
Despite the extensive growth of Chicago Patrolmen’s Federal Credit Union, Arney has been steadfast in maintaining the Credit Union’s number one mission: “Serve the financial needs of Police Officers and their families in order to help them realize their life’s goals.”
Prior to Chicago Patrolmen’s Federal Credit Union, Arney worked for ITT Commercial Finance, which was later sold to Deutsche Bank, becoming Deutsche Financial Services. Starting there in 1989, Arney served in many capacities, ultimately becoming Vice President of Operations in the United Kingdom in their Guildford, England branch office. While in the U.K., he was appointed a Director of the company.
Arney is often called upon for quotes or interviews, and has been featured on/in ABC World News Tonight; Fox Business News’ “Money for Breakfast”; WBBM Noon Business Hour; Credit Union Times; Credit Union Magazine; Wall Street Journal; and local Chicago newscasts.
Arney attended Indiana University, Bloomington, IN, where he received his BA in Economics. Following, he attended Loyola University, Chicago, IL, where he earned an MBA with a concentration in Personnel Management.