Chief Executive Officer, Chicago Patrolmen’s Federal Credit Union
When you walk into Scott Arney’s office, you wonder if this man is still a “boy at heart” or just “married to his career.” The dichotomy is clearly delineated as you see a methodically-neat desk, uncluttered with anything superfluous, augmented by a built-in shelving unit meticulously organized with police memorabilia any little boy would run to with wonder and bulging eyes. There is everything from hats from various ranking officers throughout the years to cars, toys and more. Of course, strewn between are photos galore, including Scott with each member of his family.
The truth is Arney is boyishly passionate about all that he does, most especially about serving the financial needs of law enforcement officers and their families. As Chief Executive Officer of Chicago Patrolmen’s Federal Credit Union for the past fifteen years, Arney rounds out his illustrious 28-year-career in the world of finance by doing what he loves to do every day.
Chicago Patrolmen’s Federal Credit Union is a full-service financial institution, which has been serving the financial needs of police officers and their families since 1938. Chicago Patrolmen’s is and has always been led by a Board of Directors consisting entirely of working and retired police officers.
Chicago Patrolmen’s started 79 years ago when members of the Chicago Patrolmen's Association decided to pool their financial resources for the betterment of all. At first, Chicago Patrolmen’s was a “blue shirts” organization, with membership open only to police officers “on the beat” and their immediate family members. By 1949, Chicago Patrolmen’s had grown to over $1 million in assets. At that time, the Board implemented a “once a member, always a member” policy, permitting members to maintain their Chicago Patrolmen’s accounts when they moved up in the ranks, or retired. Today, Chicago Patrolmen’s serves police officers of all ranks, as well as their family members. Chicago Patrolmen’s also serves the financial needs of full-time Chicago Police Department personnel; employees of the Office of Emergency Management Communications; and police officers and full-time employees of select police departments and police organizations and their families throughout the State.
Arney was named CEO of Chicago Patrolmen’s in 2002. Deriving from his keen understanding of both the worlds of finance and law enforcement, Arney has led the charge of fine-tuning and growing this highly-respected institution, which is known and recognized throughout the country.
Under Arney’s direct leadership since 2002, Chicago Patrolmen’s has achieved the following:
In addition, Arney founded and opened Chicago Patrolmen’s Financial Planning and Education Center, which includes an exclusive alliance with MAF Companies to help fulfill members’ financial planning needs. Members now have the opportunity to meet with seasoned professionals with over 100 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 financial protection, college savings, estate planning and insurance. The Financial Planning and Education Center also provides members with credit repair and debt mediation services at no cost to the member, as well as home, life and auto insurance.
Most recently, Arney led his team in the development of National Police Credit Union, which is a marketing division of Chicago Patrolmen’s. National Police Credit Union is the first and only full-service financial institution created solely for all members of the Fraternal Order of Police across the country. This past September, National Police Credit Union opened its first Regional Business Office in Tempe, AZ, which augments the credit union’s mission to offer full-service financial products, services and educational programs to every law enforcement officer and his/her family member throughout the United States.
One of Arney’s most meaningful accomplishments to date is his work with 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 the organization turn a dream into a reality. In fact, the organization is so close to Arney’s heart, he provides office and conference room space for their staff and Board Members within Chicago Patrolmen’s Chicago Headquarters location.
Despite the extensive growth of Chicago Patrolmen’s, 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, 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.
Additionally, Arney sits on the Board of First Chicago Mortgage Services, a wholly-owned subsidiary of Chicago Patrolmen’s.
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 Personal Management.