Colonnade advises Thrivent on the conversion of its thrift to a credit union

Colonnade advises Thrivent on the conversion of its thrift to a credit union

December 2012

Thrivent Financial for Lutherans, a faith-based, not-for-profit membership organization with nearly 2.5 million members and more than $75 billion in assets under management, chartered a member-owned, member-governed federal credit union that accepted the transfer of all deposits and virtually all other assets and liabilities of Thrivent Financial Bank on December 1, 2012.

Thrivent Financial Credit Union has approximately $500 million in assets, making it one of the largest faith-based credit unions in the United States. Thrivent Federal Credit Union is owned by its credit union members, not by Thrivent Financial for Lutherans.Anyone within the credit union’s “field of membership” is eligible to apply for membership.

Thrivent Financial Bank, operating under a new name, “Thrivent Trust Company” will continue to offer trust accounts, investment management accounts and certain retirement accounts. Thrivent Trust Company is a wholly-owned subsidiary of Thrivent Financial for Lutherans.

Colonnade Securities LLC advised ThriventFinancial for Lutherans on this transaction.

About Thrivent Federal Credit Union 

As one of the largest faith-based credit unions in the United States, Thrivent Federal Credit Union offers a unique combination of financial expertise, shared values with its members and competitive products including: checking and savings accounts, mortgages, consumer loans, Health Savings Accounts, and business lending and cash management. With approximately $500 million in assets, Thrivent Federal Credit Union is well positioned to help guide, support and inspire members to achieve financial well-being. For more information, visit Thriventcu.com.

About Thrivent Financial for Lutherans 

Thrivent Financial for Lutherans is a not-for-profit, Fortune 500 financial services membership organization helping approximately 2.5 million members achieve financial security and give back to their communities. Thrivent Financial and its affiliates offer a broad range of financial products and services. As a not-for-profit organization, Thrivent Financial creates and supports national outreach programs and activities that help congregations, schools, charitable organizations and individuals in need. For more information, visitThrivent.com.