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 new credit union will be a partner of its sponsor, Thrivent Financial for Lutherans, a faith-based financial services firm that primarily offers insurance and investment products.

The Appleton, Wis.-based credit union will have $500 million in assets and will offer deposit and consumer loan products. TFFCU will have an association field of membership made up of the clients of Thrivent Financial and their immediate family members, a pool of roughly 2.5 million people nationwide, according to credit union executives.

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