Our future. Your decision.

I just bought printed checks. Will they be useable after the merger (assuming the merger occurs)?

What are the tax implications of the payout?

So, I understand the purpose of this merger, but I am concerned I will not have access to cash like I used to because there will no longer be "shared branches". If I want $1000 in cash, how do I get that (assuming ATMs limit how much one can withdraw at one time)???

I have kept my banking in credit unions for over 40 years so whilst I understand the financial desire to merge, I will remain unhappy with the loss of the benefits we have as shareholders in a cooperative credit union that is renown for its warm, helpful customer service. I worry the personal touch will disappear with the current attitude of the banking industry relying on impersonal automation of such things as telephone banking and 100% reliance on electronic technology to displace human beings. I realise I have the choice of moving to another credit union as TCU and cooperative banking have the kind of benefits I have learned to appreciate. Loss of the cooperative philosophy of banking along with the expected cost of higher borrowing rates and poorer term deposit rates, I will likely vote against the merger.

I’ve read the materials and watched the video. I have an unasked/unanswered question to the three possibilities for TFCU should the merger vote not pass: why can’t things stay the same? Why would another merger, a spin-off, or liquidation be necessary? Is the credit union facing insolvency?

I am wondering what "additional services" are needed. The services I receive now are very adequate. The cover letter states ". If your credit union merges into the bank, you will lose all the ownership interests you currently have in the credit union and you will become a customer of the bank. The bank's stockholders own the bank, and the directors of the bank have a fiduciary responsibility to run the bank in the best interests of the stockholders, not the customers." Were members notified about what additional services were not available from the current credit union? What makes those services so important? Is the current status of the Credit Union in jeopardy? I'm not comfortable giving up my ownership in the credit union, especially since the new bank will be working to benefit the shareholders and no longer the members. This is concerning. I have been with Thrivent since the 1980s when it was a credit union, it switched to a bank, then back to a credit union. The reasons proposed to switch back to a bank are not enough for me

TCU was previously a bank, now a CU and proposed to become a for profit Thrivent Bank; all to access expansion capital. Presumably commercial banking will shift emphasis away from individual members. Did TCU fail to plan a successful capital investment strategy?

The one thing that was not explained well is why a merger is being considered. Is the credit union in financial trouble that it can no longer operate as designed? Is reorganization a possibility to change structures or some services? To me, it sounds like Thrivent as the parent organization wants direct control of funds for a variety of reasons. This makes me at least pause to consider why. I appreciate that many of the features of accounts will be preserved. One of the best features though is going away, which is the Co-Op shared branch banking. This will make cash deposits and some check deposits difficult or put on hold instead of having near-immediate access to funds. I know they stated less than 3% of members routinely use that feature, but it is important in some situations and will not be there when an infrequent user may need it in unusual circumstances. Can the Credit Union provide additional rationale on why a merger is needed at this juncture beyond convenient access to institutional capital?

I’m for it

Will I still be able to use my TCU checks after the merge?

IDEA: Thrivent Bank " FIRST APPEARS " as an small cap fund or stock issue - later maturing into NYSE functionability. Which considerations are underway to include Thrivent property, title, health, and automoble insurance(s)??? IN MY MIND this pending merger is to also GREATLY SIMPLIFY MY HOUSEHOLD MORTGAGE : PURCHASE EXPERIENCE... G. DETWEILER JR. GRACE LUTHERAN CHURCH - CLEARWATER, FLORIDA

I personally want it to remain as a credit union. I don't like how bank run. Also this will limit my access since they won't be in the credit union co-op anymore.

Why use the balance on a single day? Wouldn’t it make more sense to use an average balance over a period of time?

Thrivent Bank was in existence prior to becoming a credit union. My recollection was that the change was positioned as being advantageous primarily on the basis of a credit union being a "membership" organization, which mirrored the nature of membership in Thrivent Financial. What is advantageous about returning to being called a bank and why does it matter at the customer level?

Many years back TCU transitioned to bank status to offer more investment options. Then due to newly imposed onerous Fed. regulations it transitioned back to credit union status. As the Fed continues to overregulate, I can't understand the value of bank status. It appears to be a money thing which is raising red flags for me. Why is the CU too expensive to maintain but the bank supposedly will be financially viable??

My husband and I are very concerned about the tax implications of your proposed payout associated with the merger. We could have a sudden 5-figure change to our income based on June's balances in our various accounts. Your FAQs do not address this issue. What are you doing to mitigate any tax problem this could cause for members?

Assuming we will need new debit cards, direct deposit set ups etc?

I read through the FAQ. What are the benefits of the proposed merger??

When TFCU was created from the earlier iteration of Thrivent Financial Bank, we were told as customers/potential members that a credit union was far more in line with Thrivent's mutual ownership model and values. We joined based on that information. I'm curious to know what has changed about our values that would make becoming a bank again a decision of integrity.

Wondering if this is really good for members. Didn't we have a bank once?

I started in the 80’s when it was AAL specifically because it was a Lutheran Credit Union. I wasn’t happy it went to a bank but was very glad it went back to a CU. I Need & Appreciate I can easily access my money via ATM wherever I’ve lived because of shared banking with US Banks. Customer service is personable and I’ve appreciated some know me when I call in, I feel valued. So many reasons I want my money in a CU not a bank. I have several Life insurance policies with AAL/ Thrivent; I Definitely don’t want a merger to a Bank. This news is very upsetting and stressful for me. I pray this does not get Voted in.

I joined a Credit Union! Now you want to take that away from me. I gave up on banks too many fees and hoops to jump through. I think there will be a number of members who fell the same way I do. Thrivent Federal Credit Union has served me well over the years, I will hate to see it go.

This is yet another step to walk further away from the 100+ year history of this fraternal benefits society and it's membership. I chose a credit union because of the incentives aligned with member needs. I chose Thrivent because of my family's multigenerational relationship with this movement. I have zero interest in banking with an out of state, for profit bank with no branches or employees to serve my family's needs. There are also serious ethical questions to be answered about what members were aware of the payout formula before the June 28th reference date. The description that senior leaders will only receive their share by the same formula masks the realities of some members being more aware than others how to maximize their payout. For these reasons and more I will be voting no and encourage my fellow members to do the same.

My main reason (now) for continuing to be a TFCU member is access to lower loan rates. I say ‘now’ because I used to also have access to a brick and mortar institution in the Fox Cities. I would suggest only 3% of members use the co-op thing is because it wasn’t well publicized. I will vote no. If the vote passes, I’ll have no reason to stick around and will move my money over to a brick and mortar bank at which I am already a customer or a CU where I am already a member. Neither of those currently offer loan rates as good as TFCU or they have other related loan drawbacks. They do have human faces and safe deposit boxes, however

To: Thrivent Board of Directors I didn't become a member of a credit union to become a customer of a bank. I believe in the fundamental structure of credit unions and the power of our cooperatives. I value the credit union choice above the dividend distribution that we'll receive. The question that I have for you is this: who stands to substantially benefit from this merger transaction? Whatever your answer is, it most certainly will not be your members.

Customers/members have been through this before with AAL & Thrivent. I hope it is more seamless than a prior time. It's still unclear why go back to being a bank, why now, and what the advantage is to the customers/members. I was disappointed to learn that the merger ends access (again) to a physical banking site. I had only recently becoming aware of the shared co-op branch option and already used it a few times. Makes me wonder how Thrivent Bank intends to gain new customers & retain enough existing customers with only virtual banking approach this time around.

Assuming the merger is approved, will we still be able to write checks with our current TFCU checks? Would they still be valid checks? For direct deposit, will the routing number change? Will we need to set-up a new direct account with our employers? Will there be a delay with EFT payments, assuming the merger is approved, when there is the transition from TFCU to Thrivent Bank? Will our account numbers change? Thank you for answering these questions. Chris

I assume that everything will be only on line banking .

I have always preferred credit unions over banks because there is usually not a monthly charge for accounts and loan rates are typically lower. I have also found the customer service to be better. I have read through the materials, and I am still not 100% clear on why the merger needs to take place, especially when they list other alternatives, which include other mergers, spin-offs or liquidation. It does not appear as though leaving the credit union "as is" is an option. Why? I will probably close my accounts with Thrivent if it becomes a bank.

Is bigger always better? I have been very pleased with TCU. I also have a bank account with a mega bank. I do not think there are any improved services from the bank that TCU does not already offer. TCU has a full line of services. I had a great experience working with TCU to purchase my home and TCU had better rates than my mega bank. I joined TCU because credit unions are known for providing better rates and service to its members. I will be voting NO on the merger. If it is approved I will close my account and join another credit union.

I have no questions at this time

One needs only look at Wells Fargo and their wide variety of horrendous actions to understand the rampant greed that motivates merging with, or converting into, a bank. Do I believe that Thrivent Bank would go so far as WF? I do not, but the plan as described in the packet I received offers no benefit to TCU members and, in fact, explains how we will stop being seen as customers and start being seen as the product to serve the *real* customers: the stockholders (which could easily include Wall Street). Yes, we get a one-time membership payout, but I don't see roughly $350 (in my case) satisfactory to accept being gouged by banking tactics for the nebulous future. I opened my Thrivent--then AAL--checking account at the age of 15 and I've carried it through 25 years, almost as many moves, six different states, and one military enlistment. I will vote against the merger and, should it go through, will likely take that $350 with the rest of my money and move to a different bank; a bank where, yes, I would suffer the same problems but at least have access to a physical location (which makes for more convenient suffering). Or, better yet, a local credit union. I recommend that all TCU members do the same, both for the vote and should the merger succeed.

Why would you choose the last day of the month of June, why not the first day of the month, or the 15th of the month, or better yet, average daily balance for the month of June?

I chose Thrivent Federal Credit Union because of the fact it is a credit union. If you merge with a bank and lose credit union status I will no longer utilize your services. Instead I will take my business to a credit union that is local. The credit union status is the main benefit of TFCU, this makes up for not having a brick and mortar building. The inconvenience of having to deposit everything electronically would not be worth the benefits that would change with the proposed merger.

I fully intend to vote AGAINST this proposed merger. Primarily because of one single sentence in the regulatory disclosure: "The bank's stockholders own the bank, and the directors of the bank have a fiduciary responsibility to run the bank in the best interests of the stockholders, not the customers." Offering a distribution payment for loss of ownership interests feels like a carrot at the end of a string, and a rotten one at that. Who will be the stockholders??

I like credit unions. Most there is no limit to the amount of money that can be deposited into checking account. Interest rates on checking accounts are higher most of the time. It is easier to get a loan from a credit than a bank.

I’m curious why members who represent the credit union’s liabilities (member savings and checking balances) will receive a pay out while members who represent the credit union’s assets (member loans) are not receiving shares of the pay out. Isn’t it the credit union’s assets that Thrivent Financial is acquiring and paying for?

Lutheran Brotherhood “had” a bank. Upon the merger of LB and AAL, it was deemed that it would not be in Thrivent’s best interest to have a bank. What has changed since the AAL LB merger to now assert that a bank vs a sponsored credit union is in Thrivent’s best interest?

Like several other commenters, I still do not understand the reason for the credit union to become a bank other than an amorphous ability to grow, including access to additional capital. Growth isn't always a positive thing. What is the problem this merger is designed to correct? Why is now the time for this discussion; how did this idea first arise? I heard nothing to explain these base-level questions. I plan to vote no unless I am shown a clear reason to shift the structure of our collective financial stewardship.