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Thirvent bank transitioning to credit union
Starting next month, customers of Thrivent Financial for Lutherans' banking division will become credit union members.
Todd Sipe will become the president of Thrivent Federal Credit Union on December 1, and he says they decided to make the shift to a credit union because of new federal banking regulations.
Sipe says the credit union will offer the same services that the bank did, but trust funds will be handled by the new Thrivent Trust Company, because credit unions aren't allowed to manage trusts.
When the Thrivent Federal Credit Union opens, it will be among the five largest faith-based credit unions in the country, with $550 million in assets and nearly 50,000 members.
Todd Sipe will become the president of Thrivent Federal Credit Union on December 1, and he says they decided to make the shift to a credit union because of new federal banking regulations.
Sipe says the credit union will offer the same services that the bank did, but trust funds will be handled by the new Thrivent Trust Company, because credit unions aren't allowed to manage trusts.
When the Thrivent Federal Credit Union opens, it will be among the five largest faith-based credit unions in the country, with $550 million in assets and nearly 50,000 members.
posted : November, 27th by WHBY
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