Regulators Approve Bank Conversion Into Credit Union - Thrivent Financial

From the NCUA press release

The Office of Consumer Protection at the National Credit Union Administration (NCUA) has chartered Thrivent Federal Credit Union (FCU), which has acquired certain assets and liabilities formerly held by Thrivent Financial Bank.

The new credit union is sponsored by Thrivent Financial for Lutherans, a fraternal benefits society. Thrivent FCU will have approximately $500 million in assets, making it one of the largest faith-based credit unions in the United States. Thrivent Financial Bank’s 47,000 clients will become member-owners of Thrivent FCU upon the transfer of their accounts. The credit union will have a potential membership of 2.5 million members nationwide.

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In past years I've posted a few times on Thrivent Financial Bank and its checking account promotions.

The NCUA says that the new credit union will have a potential membership of 2.5 million members nationwide. But it may be larger than that. According to Thrivent Financial's FAQs about the credit union conversion, the credit union's field of membership includes members of Thrivent Financial for Lutherans. And according to Thrivent Financial's Join Us page, you can become a member without being a Lutheran.

The membership issue is currently a moot point for savers since their deposit rates are low.