Latest news with #TerryRasmussen
Yahoo
3 days ago
- Business
- Yahoo
Thrivent Bank launches operations in US
Thrivent Bank has officially commenced operations, marking a milestone as the first bank with an Industrial Loan Company (ILC) charter to open since 2020 and only the third since 2006. This launch finalises the merger of Thrivent Credit Union into the newly established bank. A subsidiary of Thrivent, a Fortune 500 financial services firm, Thrivent Bank aims to integrate the principle of generosity into its banking practices. The bank applied for the ILC charter in 2021 and received conditional approval from the Utah Department of Financial Institutions (UDFI) and the Federal Deposit Insurance Corporation (FDIC) last year. The official charter was granted at Thrivent Bank's headquarters in Salt Lake City. Thrivent president and CEO Terry Rasmussen said: 'Thrivent Bank combines our legacy of trusted financial advice with a modern, client-first banking solution. Thrivent Bank will help us build relationships with younger clients earlier in their financial journeys – who we can then serve throughout their lives.' With a growing number of Americans, particularly younger and more diverse individuals, seeking new banking options each year, Thrivent Bank intends to address this demand through a client-focused approach. The bank will prioritise digital-first banking and cash management solutions, empowering clients to make informed financial decisions that align with their long-term objectives. As of 1 June 2025, members of Thrivent Credit Union have transitioned to clients of Thrivent Bank, which is dedicated to providing the same service that they have come to expect. Additionally, Thrivent Bank plans to unveil a new digital banking experience later this year. Thrivent currently serves over 2.4 million clients through a network of financial advisors nationwide and manages more than $193bn in assets as of 31 December 2024. Last month, Thrivent announced plans to recruit around 600 financial advisors in 2025 for various positions across different advisory models, focusing on enhancing and expanding advisor teams. "Thrivent Bank launches operations in US" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
4 days ago
- Business
- Reuters
Money manager Thrivent opens digital bank to attract younger retail clients
NEW YORK, June 2 (Reuters) - Money manager Thrivent opened a digital bank on Sunday, aiming to attract young people as part of a nationwide push, the company said on Monday. "For over 120 years, Thrivent has provided purpose-based advice and now we're expanding in banking to grow and serve even more people," Thrivent CEO Terry Rasmussen said in a statement. The bank "will help us build relationships with younger clients earlier," she said. The company, which has Lutheran roots, currently serves 2.4 million clients through thousands of financial advisors and manages more than $193 billion in assets. "There's been this very notable upswell out there for more purpose-driven experiences," Brian Milton, CEO of Thrivent Bank, told Reuters in an interview. "There are 20 million Americans out there who are shopping for a bank account... we know they're younger, we know they're diverse, we know they're looking for transparency and fairness.' The new bank is one of few to have gained approval to operate from the Federal Deposit Insurance Corporation under the Biden administration. It secured a rare charter from the government to become an industrial loan company, the first since 2020. The digital bank will take on a group of about 50,000 members from Thrivent's existing credit union, which will be merged into the bank. It already houses about $700 million in deposits and will continue to offer loan products, such as mortgages, to retail clients.
Yahoo
4 days ago
- Business
- Yahoo
Money manager Thrivent opens digital bank to attract younger retail clients
NEW YORK (Reuters) -Money manager Thrivent opened a digital bank on Sunday, aiming to attract young people as part of a nationwide push, the company said on Monday. "For over 120 years, Thrivent has provided purpose-based advice and now we're expanding in banking to grow and serve even more people," Thrivent CEO Terry Rasmussen said in a statement. The bank "will help us build relationships with younger clients earlier," she said. The company, which has Lutheran roots, currently serves 2.4 million clients through thousands of financial advisors and manages more than $193 billion in assets. "There's been this very notable upswell out there for more purpose-driven experiences," Brian Milton, CEO of Thrivent Bank, told Reuters in an interview. "There are 20 million Americans out there who are shopping for a bank account... we know they're younger, we know they're diverse, we know they're looking for transparency and fairness.' The new bank is one of few to have gained approval to operate from the Federal Deposit Insurance Corporation under the Biden administration. It secured a rare charter from the government to become an industrial loan company, the first since 2020. The digital bank will take on a group of about 50,000 members from Thrivent's existing credit union, which will be merged into the bank. It already houses about $700 million in deposits and will continue to offer loan products, such as mortgages, to retail clients. Sign in to access your portfolio
Associated Press
11-03-2025
- Business
- Associated Press
Thrivent Continues Legacy as One of the World's Most Ethical Companies® for the 14th Consecutive Year
Recognition honors Thrivent's commitment to strong business ethics, compliance, and governance. MINNEAPOLIS, March 11, 2025 /PRNewswire/ -- Thrivent has once again received the World's Most Ethical Companies ® recognition by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. Thrivent, a Fortune 500 financial services company that puts generosity at the heart of saving and investing, has been recognized since 2012 and is one of only six honorees in the financial services industry this year. 'Being recognized as one of the World's Most Ethical Companies® is a testament to Thrivent's integrity, transparency and best-in-class ethics practices,' said Terry Rasmussen, President and CEO, Thrivent. 'Our strong ethical culture is the foundation of the trust our workforce, financial advisors and clients place in us, enabling us to make a positive impact in our communities.' 'Congratulations to Thrivent for achieving recognition as one of the World's Most Ethical Companies®. Behind this honor is a true dedication and a commitment to advancing business integrity. This approach is good for business – employees and other stakeholders value companies that prioritize the kinds of practices we measure with our process,' said Ethisphere's Chief Strategy Officer and Executive Chair Erica Salmon Byrne. Overall, 136 honorees were recognized as one of the World's Most Ethical Companies ®, spanning 19 countries and 44 industries. Methodology & Scoring The World's Most Ethical Companies assessment is grounded in Ethisphere's proprietary Ethics Quotient®, which requires companies to provide 240+ different proof points on practices that support robust ethics and compliance; governance; a culture of ethics; environmental and social impact; and initiatives that support a strong value chain. That data undergoes further qualitative analysis by our panel of experts who spend thousands of hours vetting and evaluating each year's group of applicants. This process serves as an operating framework to capture and codify best-in-class ethics and compliance practices from organizations across industries and from around the world. Honorees To view the full list of this year's honorees, please visit the World's Most Ethical Companies website, at About Thrivent Thrivent is a Fortune 500 financial services company that helps build, grow and protect financial well-being through purpose-driven advice, investments, insurance, banking and generosity programs. Thrivent serves more than 2.4 million clients through thousands of financial advisors across the country and has more than $193 billion in assets under management/advisement (as of 12/31/24). Thrivent carries superior financial ratings from independent rating agencies, which demonstrate the company's financial strength and stability. This includes an A++ rating from AM Best, an Aa2 rating from Moody's Investors Service, and an AA+ rating from S&P Global Ratings. For more information about Thrivent, visit or find us on Facebook, Instagram and LinkedIn. About Ethisphere Ethisphere is the global leader in defining and advancing the standards of ethical business practices that strengthen corporate brands, build trust in the marketplace, and deliver business success. Companies turn ethics, compliance, and culture into a business advantage by leveraging Ethisphere's data-driven program and culture assessments featuring the latest guidance and the practices of hundreds of global organizations across the 8 pillars of an ethical culture, and 240+ ethics, compliance, social, and governance data points delivered through a proprietary software platform. Ethisphere also honors superior integrity programs through World's Most Ethical Companies® recognition, brings together a community of industry experts with the Business Ethics Leadership Alliance (BELA), and advances ethical business practices through the Global Ethics Summit, Ethisphere Magazine and the Ethicast podcast. For more information, visit 'World's Most Ethical Companies' and 'Ethisphere' names and marks are registered trademarks of Ethisphere LLC. For details, visit
