Thrivent Credit Union's sponsor is contemplating change that could sharply increase pool of potential credit union members.
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.
Thrivent Financial for Lutherans will provide a potential membership of 2.5 million people nationwide.
Insurance, investment conglomerate working way through regulatory approvals to spin bank off into Wisconsin credit union.
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.
Credit union leaders have not said much about the news that Thrivent Financial for Lutherans is narrowing the business focus of its subsidiary Thrivent Financial Bank and launching a credit union for the bank's retail business.
Although they less frequent than credit union to bank charter changes, some banks have made the move to become credit unions.
Ten years after consolidating credit unions and banks, Thrivent Financial plans to create an independent new credit union.