With its chartering announcement last week, Thrivent Financial Federal Credit Union began life as a credit union again, an identity it has not held since Thrivent Financial was formed out of two credit unions in 2001.
The 20,000 member, $353 million GFA Federal Credit Union, headquartered in Worcester Mass., moved a bit closer to finalizing a purchase of a stock-owned thrift when a majority of the bank’s shareholders voted to approve the deal.
This online only article accompanies the comprehensive looks at the year gone by in the Dec. 21 Year-in-Review print edition of Credit Union Times.
Longtime customers of Thrivent Financial Bank, an Appleton, Wis.-based bank with credit union roots, may experience confusion and feelings of déjà vu in the coming months as the bank returns to being a credit union.
Ten years after consolidating credit unions and banks, Thrivent Financial plans to create an independent new credit union.
Another bank that began life as a credit union has announced its plans to make an initial public offering of stock in the next few months.
The $227 million SharePlus Federal Bank, the former SharePlus Federal Credit Union, has filed papers with the Securities and Exchange Commission to make its initial public offering of stock.
A holding company for OmniAmerican Bank, formerly OmniAmerican Credit Union, started trading stock on the NASDAQ stock exchange this morning after members of the federally chartered thrift voted to approve a conversion to a stock issuing bank.