The truth is: Arney is boyishly passionate about all that he does, and, throughout his illustrious 29-year career in the world of finance, he has spent the last 16 years serving as CEO for Chicago Patrolmen’s Federal Credit Union.
Chicago Patrolmen’s Federal Credit Union (CPFCU) is a full-service financial institution, which has been serving the financial needs of Police Officers and their families since 1938. CPFCU is and has always been led by a Board of Directors consisting entirely of working and retired police officers.
CPFCU started 80 years ago when members of the Chicago Patrolmen's Association decided to pool their financial resources for the betterment of all. At first, CPFCU was a “blue shirts” organization, with membership open only to police officers “on the beat” and their immediate family members. By 1949, CPFCU 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 CPFCU accounts when they moved up in the ranks, or retired. Today, CPFCU serves police officers of all ranks, as well as their family members. CPFCU 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 CPFCU 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, CPFCU has achieved the following:
--Grown into a true full-service financial institution
--Increased assets from $137 million to $379.2 million
--Increased loans 250%
--Doubled membership from approximately 14,000 to nearly 35,000 members
--Opened three branch locations
--Added a Credit Union Service Organization for the primary purpose of mortgage origination
In addition, Arney founded and opened the CPFCU’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.
Most recently, Arney led his team in the development of the National Police Credit Union, which is a marketing division of CPFCU. National Police Credit Union is the first and only full-service credit union created solely for all members of the Fraternal Order of Police across the country.
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, he provides office and conference room space for their staff and Board Members.
Despite the extensive growth of CPFCU, Arney has been steadfast in maintaining the CPFCU’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 CPFCU, 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 subsidiary of CPFCU.
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.