What's new at Thrivent: Fall 2022 updates

A delegation of members and staff from multiple fraternal benefit societies and a trade association, led by Thrivent, descended on Capitol Hill in May to talk about the difference that fraternal activities make in local communities across the U.S. Why?

“We wanted to bring to life how fraternal benefit societies like Thrivent put power in the hands of their members to meet local needs,” says Kimberly Spears, a Thrivent client from Atlanta, Georgia.

Spears, who also serves on the board of the Thrivent Member Network – Southeast Region, was one of 25 participants from Florida, Georgia, Illinois and Missouri who attended the annual Fraternal Advocacy Trip to Washington, D.C. Due to the pandemic, trips in 2020 and 2021 were canceled.

“This trip provides us with a tremendous opportunity to help protect and advance the unique role of fraternal benefit societies by “sharing our clients’ community impact stories on Capitol Hill,” says Sharon Brosnan, vice president of Government Affairs at Thrivent. “We bring together fraternal members and staff from several states to visit the offices of their respective congressional delegations, and it really helps the elected officials better understand the significant impact and value of local fraternal activities in the communities they represent.”

Thrivent’s delegates included nine members, four corporate staff members and six Thrivent financial professionals and office professionals. Modern Woodmen, American Fraternal Alliance and Knights of Columbus also sent participants.

In her meetings with congressional leaders from Georgia, Spears shared a few stories. The first was an event that came out of the Thrivent Member Network board’s community impact response plan.

Thrivent partnered with OneRace to expand small groups across the U.S. to facilitate conversations on gospel-centered reconciliation. When the $30,000 fundraising goal was reached, Thrivent added $5,000.

“This is important to me given the division in our world,” Spears says. “Without changing hearts and living in the love and grace of Jesus, it isn’t going to get better.”

Spears also shared about her efforts with a Thrivent Action Team that provided Christmas gifts to college-aged foster kids and another that built science enrichment kits for summer programs. In both cases, the Thrivent Action Team identified a need and mobilized a group of volunteers to make a difference.

“When we left their offices, we also left an ask—to add their signature to a resolution that protects fraternal benefit societies in legislation,” Spears says. “I’m looking forward to how I can strengthen the relationships we started.”

Members of Congress and their staff enjoy these meetings, Brosnan says. “The most common refrain we heard from those we visited was, ‘It’s so nice to hear such positive stories and good news from people for a change. We usually only hear about what’s going wrong, not what is going right.’”

Thrivent has been named to Fortune magazine’s Fortune 500 list for the 28th consecutive year.

Thrivent is listed as the 351st largest company in America. The ranking was based on Thrivent’s 2021 revenue of $10.3 billion. Thrivent was ranked No. 369 last year. We are also the 14th largest company headquartered in Minnesota.

“Our movement up the Fortune 500 list reflects a strong year of growth,” says Mary Jane Fortin, chief commercial officer and interim chief financial officer. "Despite facing continued headwinds in 2021 with the pandemic and market volatility, we remained financially strong, served more clients and positioned ourselves to help even more people achieve financial clarity in the future. Our positive movement on the list shows we can honor the commitments we make to our clients while continuing to deliver on the key business priorities essential to our transformation.”

To determine our ranking on the list, Fortune uses total revenues from the previous fiscal year. Thrivent’s movement on the list is based on our total revenues compared to other companies across various industries with various growth rates, and our position can fluctuate from year to year.

Each year, Thrivent clients with eligible membership have a voice in how Thrivent is led at the national and/or regional levels. This year’s elections open on Oct. 5 and close Nov. 21.

On the national board of directors, there are three positions open for election. There are seven valid nominations, including the nominations of three incumbents. There also will be elections for 20 Thrivent Member Network regional boards.

Biographies of the nominated candidates at the national level are included in election materials that eligible clients receive either by mail or email, depending on the preference selected for receiving this information. If you’re in a region holding an election, you’ll receive regional election materials. Not all mailings include both national and regional information.

It’s easy to have a say in your organization. To participate in the election process, review the candidate bios to select the candidates to represent you, looking for people who have the skills and abilities to guide our organization. Finally, return your ballot or vote online (when the election opens) by Nov. 21.

Making one-time billed or planned payments on your Thrivent life, health and annuity products just got easier through the Thrivent Mobile App. This new payment function was recently added for iOS (Apple iPhone) and Android devices.

To make a payment, you must have a current bill or planned payment due to Thrivent. You must own at least one Thrivent product. Payments can be made by adding a bank account or using a bank account already linked through the app or thrivent.com. It currently does not include automatic payments.

To get the app, download it from the Apple App Store or Google Play. Your device must be an Android with OS 10.0 or newer or an iPhone 8 or newer (with iOS 13 or later). You can log into the app with the same user ID and password you use on thrivent.com. If you don’t have a user ID and password, you can create them by using your Thrivent ID. Each person who uses the app must have a unique mobile number and email address. If you have the same email address or mobile number as another family member in your account information, you must update it.

In June, AM Best once again affirmed Thrivent’s A++ (Superior) rating and its stable outlook. This rating is the highest of the agency’s 13 ratings categories.

While 2021 presented another year of economic headwinds, Thrivent remained strong, stable and ready to serve our current and future clients. Our financial strength and stability help ensure we can continue to deliver on the commitments we make, helping more people achieve financial clarity, enabling lives full of meaning and gratitude.

In the agency’s review, AM Best recognized Thrivent for continuing to maintain its balance sheet strength, strong operating performance, favorable business profile and very strong enterprise risk management. The agency also cited Thrivent’s high-quality capital structure and strong overall financial performance in 2021, which included record-high investment income. Lastly, they noted our continued efforts to diversify our product portfolio and focus on membership growth as factors that positively contributed to the rating.