Our future. Your decision.

Each member who was a member of Thrivent Credit Union on June 28, 2024 and remains a member in good standing will receive a distribution payment after the completion of the merger.

Each member will receive a portion of the distribution payment based on the amount of share account deposits the member held at the close of business on June 28, 2024. The amount of distribution will be calculated using a rate of $0.122 for each whole dollar which the member had in their share account(s). Deposits in all share accounts (i.e., membership share, savings, special purpose savings, checking, money market, health savings, and IRA accounts and share certificates) are included for this purpose. Any member whose (i) membership was terminated, or (ii) account(s) closed since June 28, 2024, will not be eligible for a merger dividend payment.

For example, if a member had $5,000 in deposits on June 28, 2024; their estimated payout would be $610.

The ownership distribution payments will be made to eligible members after the merger is completed.

All current accounts will retain their rates, terms and features.

Loans will retain their contracted rate, terms and payment schedule. It would become a loan with Thrivent Bank, and serviced as it is today.

If the merger is approved, TCU and Thrivent Bank will work together to make the merger as easy as possible for all members.

Members who were in good standing and over the age of 18 as of June 28, 2024 are eligible to vote. Business members with a unique Tax ID are also eligible to vote and will receive a ballot to return on behalf of their organization.

Any member whose (i) membership was terminated, or (ii) account(s) closed since June 28, 2024 will not be eligible to vote.

In order for the member vote to be successful, we must receive votes from 20% of the total members eligible to vote. At the time we reach the threshold, regardless if members are voting For or Against the recommended merger, TCU will donate $20,000 to a charitable organization.

Of the votes received, a majority must vote in favor of the merger for the vote to pass.

Each eligible member will be able to vote one time. Businesses with a unique Tax ID number will also be able to cast their vote on behalf of their organization.

Only the primary member on each account will receive a Ballot and instructions to vote. Each unique member (with a unique Tax ID Number) will be eligible to vote only once, regardless of their number of accounts.

However, if you have a joint membership share account opened between November 2013 – October 2015, both members will be eligible to vote as TCU allowed for joint membership share accounts during that period of time.

Organizations such as churches and non-profits will be able to cast a vote. The authorized representative for the organization can complete the Ballot.

If the merger is approved, we anticipate the merger will become effective and we will operate as Thrivent Bank after May 31, 2025.

If the transaction does not proceed for whatever reason, TCU will continue to operate as a credit union and the credit union Board would consider other possible paths forward, including other merger options.

Yes, the to-be-formed Thrivent Bank will be FDIC insured.

The intent of Thrivent Bank is to build on the success of TCU, including its employees, operations, and locations. As a newly formed entity, the Thrivent Bank is looking forward to leveraging the current employee base of TCU to operate Thrivent Bank.

All current account rates, terms and features will remain “as is” for consumer accounts, including the ATM fee reimbursement.

Just as TCU is different from other banks and credit unions, Thrivent Bank intends to continue our shared mission of helping people achieve financial clarity so they can live full and purposeful lives. It intends to build a simple and transparent full-service product suite, create easy-to-access digital experiences, provide direct access to human support, with competitive rates.

Thrivent Bank believes that a purpose-driven bank is differentiated in part by fewer, simpler and more transparent products. This will be manifested as simple, fair, and transparent fee structures, minimal disclosure written in plain language, and experienced through behavior-influencing digital experiences that offer contextual and actionable insights and guidance that help customers advance on their path to better financial clarity and wellness.

All ownership interests will be held by Thrivent, a membership-owned, not-for-profit organization and holistic financial services company.

While Thrivent Bank will be a for-profit business, it will be wholly owned by Thrivent, a membership-owned, not-for-profit organization and holistic financial services company.

For the purposes of preparing for the member vote we needed to set a date by which we could pull data and prepare calculations and other information. We chose June 28 based on the proximity of the approvals received by the future Thrivent Bank from their regulators