Monday, November 26, 2012

Thrivent Financial Bank Becomes a Credit Union

The National Credit Union Administration (NCUA) has chartered Thrivent Federal Credit Union (FCU), which has acquired certain assets and liabilities formerly held by Thrivent Financial Bank.

The new credit union is sponsored by Thrivent Financial for Lutherans, a fraternal benefits society. Thrivent FCU will have approximately $500 million in assets. Thrivent Financial Bank’s 47,000 clients will become member-owners of Thrivent FCU upon the transfer of their accounts. The credit union will have a potential membership of 2.5 million members nationwide.

In addition to NCUA, the conversion was approved by the Federal Deposit Insurance Corporation, the Federal Reserve and the Office of the Comptroller of the Currency.

Read the press release.
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