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What is Thrivent Financial for Lutherans?
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Thrivent Financial for Lutherans is a Fortune 500 financial services membership organization helping nearly 3 million members achieve their financial goals and give back to their communities. The organization, together with its subsidiaries, offer a broad range of financial products and services including life insurance, annuities, mutual funds, disability income insurance, bank products and more.
As a not-for-profit fraternal benefit society, Thrivent Financial creates, manages and funds outreach programs to support congregations, schools, nonprofits and individuals in need. |
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Does Thrivent Financial serve only Lutherans? |
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Though the organization’s membership is limited because of its fraternal bond, its outreach is not. Like all fraternal benefit societies (not-for-profit life insurance organizations), Thrivent Financial is required to serve a specific group of people with common bonds of interests or beliefs. Thrivent Financial is organized for Lutherans and their families. Each individual applying for membership must demonstrate a Lutheran connection and support the organization’s mission. That said, many of Thrivent Financial’s charitable (fraternal) programs touch individuals of all faiths and backgrounds, and some financial products offered through the organization’s subsidiaries—like mutual funds and banking products—are, by regulation, available to anyone.
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What is a fraternal benefit society? |
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A fraternal benefit society is a membership organization that is legally required to offer life insurance to its members, be not-for-profit and carry out charitable and other programs for the benefit of its members and the public. It must be composed of members having a common bond (in Thrivent Financial for Lutherans’ case, our members are Lutherans, their families, and persons closely affiliated with Lutheran institutions), and be organized into lodges or chapters (local membership groups). These chapters carry out the legal purposes of the society which include educational, charitable, social, religious, intellectual, benevolent, moral, fraternal and patriotic activities. Finally, fraternal benefit societies must have a representative form of governance (in Thrivent Financial’s case, adult benefit contract members vote directly for the board of directors which represents their interests). |
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How does a fraternal benefit society compare to a commercial insurance company? |
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Both fraternal benefit societies and commercial companies offer insurance products, are chartered and licensed according to state insurance laws and are regulated and examined by state insurance departments.
There are also important differences. Fraternal benefit societies are comprised of members who are joined together into local volunteer groups that conduct charitable, benevolent, social, educational intellectual, moral, fraternal and patriotic activities to benefit their members and the communities in which they live. Fraternal societies help their members both achieve financial security and give back to their communities. |
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What kinds of outreach programs does Thrivent Financial sponsor? |
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Thrivent Financial creates, manages and funds a broad variety of outreach programs that support congregations, schools, nonprofits and individuals in need. These programs support member giving to Lutheran organizations, encourage volunteerism, promote home building through Thrivent Builds with Habitat for Humanity, and provide fellowship opportunities among Thrivent Financial members. Thrivent Financial also sponsors the Thrivent Builds Mobile, a traveling exhibit designed to educate people about substandard housing issues and inform them about actions they can take to help eliminate this problem.
Through the organization’s unique chapter system—a network of nearly 1,400 local volunteer groups—members annually participate in thousands of community service activities. These chapters are led by member-elected boards that provide strategic direction, leadership planning and administration to support congregational and community volunteerism at the local level. Typical chapter activities often include stocking food shelves, landscaping parks, conducting fundraisers for families who have suffered from natural or medical disasters and providing volunteer and financial resources in support of local nonprofit organizations, among others. |
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What’s the impact of Thrivent Financial’s fraternal funding? |
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In 2005 alone, Thrivent Financial and its members generated an estimated $429 million impact through fundraising, community-based service and other charitable activities. This included $120.4 million in direct contributions to communities, nonprofit organizations and Lutheran institutions through Thrivent Financial-sponsored activities, $181.8 million through chapter fund-raising events and direct gifts, and 21.4 million hours of volunteer service valued at $127.1 million (based on a rate reported by the Independent Sector, a leadership forum for charities, foundations and corporate giving programs). |
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How can I become involved in a chapter activity? |
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To find the Thrivent Financial chapter in your area, visit our Web site. Simply enter the ZIP code of your residence in the Chapter Locator and you’ll be shown the Thrivent Chapter nearest you (Look under “Meet Our Chapter Leaders” or “Chapter Newsletters” for specific contact information.)
You need not be Lutheran to participate in a Thrivent chapter activity, but membership in the organization is required to serve on a chapter leadership board. |
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Must a Thrivent Financial member participate in volunteer activities? |
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No. Thrivent Financial members may be as active as they like in their local chapter. While Thrivent Financial for Lutherans chapters provide an enjoyable, rewarding opportunity for members to join together to meet individual and community needs, participation is entirely voluntary. |
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What's the relationship between Thrivent Financial for Lutherans and the Lutheran church? |
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While Thrivent Financial is proud to support Lutheranism through its members and its benevolent efforts, it is not a church or part of the church. Members' individual actions while working on Thrivent Financial for Lutherans activities reflect their own faith and values. Individual church-body governance, doctrine and practices are matters for church-body members and their leaders.
In some cases, Thrivent Financial may collaborate with other organizations to help Lutheran churches fulfill their missions. This support does not fund ongoing church expenses, such as paying the salaries of church workers. Further, Thrivent Financial does not provide assistance that undermines stewardship efforts of churches or creates a church dependency on Thrivent Financial for Lutherans’ funding. Assistance decisions are not influenced by theological distinctions between Lutheran church bodies. |
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How is Thrivent Financial governed? |
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As a membership organization, Thrivent financial is governed by a board of directors made up of benefit members of the fraternal benefit society. This board meets quarterly and consists of 12 elective directors, such appointive directors as the board may appoint, and not more than two principal officers of the society designated by the board. The elective directors are elected by the benefit members in a manner prescribed in the bylaws, and constitute a majority of the board in number. |
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What does the name “Thrivent” mean? |
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Thrivent is a “neologism,” or fabricated word, which means you won’t find it in the dictionary. The name is derived from the term “thrive,” which means to grow vigorously, flourish and prosper by good management. “Thrivent Financial for Lutherans” became the name of the organization following the merger of its predecessors. It represents a growing, dynamic, forward-thinking organization committed to helping Lutherans by nurturing their financial security and community connections. |
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What kinds of financial products and services do Thrivent Financial and its affiliates offer? |
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The organization, together with its subsidiaries, offer a broad range of financial products and services including life insurance, annuities, mutual funds, disability income insurance, bank products and more. The financial services membership organization also assists individuals with education funding options, business continuation plans, retirement strategies, charitable giving options and estate strategies, among others. |
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Where is Thrivent Financial located? |
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Thrivent Financial operates in all 50 states within the United States. It has two main offices: an Operations Center in Appleton, Wis., and a Corporate Center in Minneapolis. The organization is domiciled in the state of Wisconsin. |
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How can Thrivent Financial be both a “Fortune 500” company and a “not-for-profit” organization? |
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Each year, Fortune magazine ranks America’s largest companies according to their annual revenue. For the past 12 years, Thrivent Financial for Lutherans has ranked among the nation’s 500 largest organizations based on this measure. That said, Thrivent Financial is a fraternal benefit society (not-for-profit membership organization). Its business operations fuel its charitable outreach. The organization’s business success gives the organization a unique opportunity to promote member volunteerism, aid individuals and families in need, strengthen nonprofit organizations and address critical community needs, such as decent housing. |
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Why should I consider doing business with Thrivent Financial (as opposed to another financial services organization)? |
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Based on performance, product quality, financial strength, and integrity, Thrivent Financial ranks among the best and most reputable financial services organizations. What distinguishes Thrivent Financial from other financial services organizations, however, is Thrivent Financial’s purpose. More than creating financial solutions, the organization adds the unique capability of enabling members to demonstrate their care and concern for others. This is accomplished through wide ranging fraternal (charitable) programs that combine the organization’s program management and funding with members’ volunteer service, commitment to Lutheranism and community outreach. Members of Thrivent Financial thus receive the dual benefit of quality financial products and services while simultaneously being part of a membership organization that helps them support and give back to their communities and congregations. |
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Can I register for the Members/Chapters section and for Lutherans Online?
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Yes. You will be asked if you are a Thrivent Financial for Lutherans member. This question should be answered "yes" to gain access to both the Members/Chapters section and Lutherans Online.
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I have LB and AAL products. Can I access them all from one Web site?
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Yes. Select Your Accounts from the top navigation bar.
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