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Magazine
Thrivent Magazine Spring 2021

Thrivent Mutual Funds wins DALBAR service award

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Thrivent updates including board election results, 2022 calendar, dividends.

Thrivent Mutual Funds receives Dalbar service award

Thrivent Mutual Funds was recognized with the 2020 DALBAR Mutual Fund Service Award for providing best-in-class telephone service to clients through its call center. This was the first year Thrivent Mutual Funds applied for the award and was ranked fourth among this year’s seven winners. There were 20 institutions vying for the honor.

During a year that has brought pandemic-induced stresses, volatile markets and in many cases, financial hardship, the award honors Thrivent Mutual Funds for delivering a superior standard of care. In particular, it demonstrates the high priority placed on serving clients, and how representatives have offered support.

“I couldn’t be prouder of this team,” says Kathy Stelter, vice president and Mutual Funds chief operations officer. “Our exceptional team consistently provides best-in-class service to our clients. This recognition from DALBAR underscores our commitment to serving our clients with the highest standards, even in the midst of a tumultuous year like 2020.”

The Mutual Fund Service Award is earned through an objective and rigorous year-long third-party audit of the quality of contact center interactions with mutual fund shareholders. DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices and customer service.

National Board members elected

Thrivent clients with eligible membership elected N. Cornell Boggs, Kenneth A. Carow and Bonnie E. Raquet to the organization’s national board of directors last fall. The three directors were elected out of a pool of nine candidates and began their new terms in February. Members cast a total of 621,398 qualified votes during the election.

The board helps lead and govern Thrivent. Board members review and approve strategic plans; oversee major business decisions, such as approving dividends to clients; assess and manage risk; and select the CEO and appointed directors.

Read brief bios of each board member and find Thrivent Member Network board election results by finding your network.

Make your board recommendations

Any Thrivent client with membership can suggest candidates for the national board of directors. If you know an active Thrivent client with membership who you think would be a strong board candidate, contact your local Thrivent Member Network board chair by May 31. Not sure who that is? Call 800-847-4836; say “fraternal” at the prompt. Or find your Thrivent Member Network on the map and click on “Contact our region.”

Thrivent to pay out $280 million in dividends in 2021

Thrivent is returning an estimated $280 million in dividends in 2021 to clients who own eligible insurance products. This result of rigorous expense management, strong investment practices and careful underwriting of new business reflects the organization’s commitment to helping clients achieve their financial goals.

Guaranteed contract values, death benefits and premiums for life insurance are based on assumptions including claims experience (mortality), investment performance and managed business expenses.* Dividends may be paid when actual results are better than assumed results.

The Thrivent Board of Directors determines whether dividends are issued each year, after setting aside amounts necessary for providing for the growth of the organization and for protecting the organization’s ability to meet ongoing and future claims and obligations.

Unlike stock companies, which answer to shareholders, Thrivent’s structure as a fraternal benefit society allows us to return a portion of any surplus to clients in the form of dividends. While dividends are not guaranteed, in the past 10 years, more than $2.9 billion in dividends has been distributed.

How will I receive my dividend?

Dividends are paid annually, either on or near the date your contract initially was purchased. They may be paid directly by check to the contract owner or applied in other ways, such as increasing coverage or value within the contract, reducing future premium payments, or reducing contract loans.

The way your dividend is returned depends on the options in your contract and your specific dividend election. If you have questions, contact your Thrivent financial advisor or call 800-847-4836.

Manage your Thrivent account

Update your connection to Thrivent. By managing your Thrivent account online and updating your email address and mobile phone number, you will have access to:

  • Thrivent’s new app.
  • 24/7 account management.
  • Service and transaction updates.
  • Workshops and volunteer opportunities in your area.
  • Paperless statements and notifications.

To create or update your profile, log in to your Thrivent account.

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*Guarantees based on the financial strength and claims paying ability of Thrivent.

The Thrivent Mutual Funds call center is part of Thrivent Financial Investor Services, Inc., the transfer agent for Thrivent Mutual Funds. Thrivent Financial Investor Services is a subsidiary of Thrivent.

DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service since 1976. DALBAR awards are recognized as marks of a superior standard of care in the financial community.

For more information about DALBAR Awards and other Customer Experience Audit programs, visit www.dalbar.com.

The principal underwriter for Thrivent Mutual Funds is Thrivent Distributors, LLC. Member FINRA. Asset management services provided by Thrivent Asset Management, LLC. Both subsidiaries of Thrivent Financial for Lutherans.
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