Chapter
checking account — using the account/signature card and security questions form
Each chapter has a checking account established at Thrivent Financial Bank through which all chapter banking transactions are to occur. This helps with year-end reporting that is required for the Internal Revenue Service. Chapters should not have secondary/alternate bank accounts.
Deposited funds are available for withdrawal on the first business day following the date of deposit. Before writing a check, it is always a good practice to verify your chapter’s account balance online to ensure funds are available to cover the check being written.
This section of CHIP covers the following topics related to chapter checking accounts:
HOW TO REGISTER FOR ONLINE BANKING
Soon after being elected or appointed, chapter financial directors and assistant financial directors are encouraged to sign up for and utilize online banking at Thrivent Financial Bank.
Here are the steps to complete the
registration process and obtain a financial institution key, which is similar
to a personal identification number (PIN):
- Go to www.Thrivent.com.
- Click Bank.
- Click Online Banking.
- Click Sign-in.
- At the top of the sign-in screen is a message that states: First time
users, please click here to register." Click on the click here
link.
- Complete the form using the chapter's Employer Identification Number
(EIN)* in lieu of a Social Security number.
- Click Submit.
The financial director will receive registration instructions by e-mail within
24 hours.
Important: All chapter leaders who have access to the chapter bank account must use the same password.
If problems are encountered or there are questions about the process, contact
a Thrivent Financial Bank customer service representative at 1-866-226-5225.
* If the financial director does not know the chapter's EIN, contact the Fraternal
Service Center at 1-800-236-3736.
CHAPTER DEPOSITORY AUTHORIZATION/SIGNATURE CARD & SECURITY QUESTIONS REQUEST FORM
A chapter must complete a new Chapter Depository Authorization bank signature card and Chapter Checking Account Security Questions Request (PDF, 272K) any time one or more of the following situations occur:
- A new financial director was elected or appointed.
- A new assistant financial director was elected or appointed.
- There are changes to who should have access to the chapter checking account.
Forward the signed signature card and completed security questions to:
Attn: Ann Salm
Thrivent Financial for Lutherans
4321 N. Ballard Rd.
Appleton, WI 54919
How to access
The bank signature card and security questions request were combined into one online form, which is available on the Forms page located at thrivent.com > Members/Chapters > Volunteer Resources.
Important Guidelines:
- If any of the situations listed above occur during the year, the chapter should submit a new chapter depository authorization (signature card) and security questions request form.
- As soon as possible after the chapter leader election, but no later than Dec. 31, chapters are asked to sign and submit the signature card and security questions request if any of the situations listed above occurred with the election process. If there are no changes, new forms are not needed.
- All authorized signers must:
- Sign when a new signature card is submitted, even if they've previously signed the card (i.e., if a new assistant financial director is elected for 2008, the re-elected financial director must sign the card again even though he/she already signed the card for 2007the 2007 signature card becomes inactive when the new card is received for 2008.
- Sign and complete a section on the Security Questions Request page, even if they’ve previously submitted security questions. All authorized signers can provide their security question information on the same form.
- At least two chapter leaders should sign the signature card and complete the security questions for the chapter's primary account and have authorization to access the chapter checking account and sign checks: (Rationale)
- The financial director and assistant financial director should definitely sign the signature card.
- If there isn't an assistant financial director, it is strongly encouraged that another leader also sign the signature card and complete the security questions.
- Anyone who signs the signature card must take an active role in monitoring the chapter checking account and be available to sign checks, as needed. All authorized signers should have the online banking access information and also have a couple of blank chapter checks so they are able to issue a check in case the financial director is not able to do so for some reason.
- While each authorized signer establishes his/her own security questions, all signers should share the same online banking sign-on (customer number and password). The financial director establishes the online banking sign-on information, then provides it to the other signers so they can access and/or monitor online banking.
Important: While the Thrivent Builds chapter specialist signs a separate signature card and establishes his/her own security questions for the chapter's Thrivent Builds checking account, he/she must also have the same online banking sign-on information as the chapter leaders. The Thrivent Builds account will be under the same EIN as the regular chapter account, so all leaders with access to either the regular chapter checking account or Thrivent Builds chapter checking account must share the same sign-on information.
- Signature cards and Security Questions Requests should be signed by those in elected chapter leadership positions only. Because the chapter leadership board represents our membership when administering program funds, only those who are serving in one of the 10 elected chapter leadership positions may access the chapter's checking account.
- If the chapter has a Thrivent Builds checking account, the Thrivent Builds chapter specialist(s) is the primary signer for that account. If there is only one Thrivent Builds chapter specialist and the chapter feels a second signer is needed for the Thrivent Builds account (this is not a requirement), then another elected chapter leader can serve as the secondary signer.
Important: No elected chapter leader can have authorization for more than one chapter account. For example, the financial director cannot be the secondary signer on the Thrivent Builds account because he/she is authorized for the chapter's primary checking account. If the chapter president is a secondary signer on the chapter's primary checking account, he/she is not eligible to be a signer on the Thrivent Builds account.
Additionally, the assistant financial director should not also assume the role of Thrivent Builds Chapter Specialist, as that would result in he/she having access to more than one chapter account.
- If a leader who has access to the checking account resigns from the board, the financial director needs to call the bank to have the online access information reset, so the resigning leader no longer has access.
TRACKING/IDENTIFYING DEPOSITS MADE BY THRIVENT FINANCIAL FOR LUTHERANS
Chapter financial directors
and assistant financial directors are responsible for tracking deposits
made to the chapter’s checking account, including deposits from service team activities and funds deposited by Thrivent Financial for Lutherans (e.g., chapter operating funds, Care Abounds in Communities® program
funds).
In most cases, Care Abounds
in Communities® program funds are electronically transferred to your chapter’s
checking account at Thrivent Financial Bank. Because the dollar amounts
deposited can many times be the same for multiple activities, it
can be difficult to determine which deposit is for which activity.
To correctly identify a deposit, look at the description that accompanies the deposit and also the unique Activity ID number, which is assigned to each activity. This number is shown:
- In the first column
of the "View Activities" screen on the Chapter Leadership Administration
Menu online.
- With the recipient name on your chapter's online banking information.
- On the bank statement for each deposit that is electronically transferred to the chapter checking account from Thrivent Financial for Lutherans.
- On the check stub for any checks issued from Thrivent Financial for Lutherans directly to organizations or individuals.
EXAMPLE:
If your chapter approves a fund-raiser for ABC Organization (the recipient),
the "Activity ID" column on the "View Activities" screen on the Chapter Leadership Administration Menu will show a unique number assigned to that activity, such as 1111111. That number also will appear immediately before the activity description/recipient name in the "Transaction/Description" field for online banking and in the "Description" field
on your bank statement. Using the above example, this is what would appear
for online banking and on the bank statement (001111111 is the Activity
ID):
Online banking shows:
PREAUTHORIZED DEPOSIT
CHAPTER FUNDS DEPOSIT XXXXXXXXXXX 001111111-ABC Organization
Bank statement shows:
Preauthorized Credit
CHAPTER FUNDS DEPOSIT XXXXXXXXXXX
001111111-ABC Organization
The XXXXXXXX is a number assigned
to the transfer of the fundsa banking number. The number immediately
preceding the recipient name is the Activity ID, which matches the Activity
ID on the 'View Activities' screen on the Chapter Leadership Administration
screen.
While deposits made by Thrivent Financial for Lutherans can be labeled with an Activity ID, the bank has no way of labeling or identifying other deposits made into the chapter checking account. The chapter needs to determine the best way to track deposits made on behalf of its service teams.
Additional Topics
Chapter summary
report - instructions for using
Depositing funds
raised - guidelines and requirements
This is proprietary information that is solely for
use by employees, volunteers, and agents of Thrivent Financial for Lutherans
in connection with fraternal activities of Thrivent Financial for Lutherans.