APPLETON, Wis. (12/9/14)--The head of Appleton, Wis.-based Thrivent FCU, which converted to a credit union from a bank in 2012, sat down with the Post-Crescent this week as part of a regular series of interviews with local business owners about their companies' histories, successes and challenges.
Todd Sipe, president/CEO of the $497 million-asset credit union, explained that, as a former bank and as a Christian-affiliated financial institution, the history of Thrivent FCU is rich.
"Thrivent FCU is sponsored by Thrivent Financial, a fraternal benefit society that helps Christians be wise with money and live generously," he told the Post-Crescent (Dec. 8). "Thrivent believes that a member-owned credit union provides an opportunity for members to partner with an institution that reflects the values of its members."
Thrivent's decision to become a credit union was driven by regulations brought on by the Dodd-Frank Act in 2011, and by the benefits of the not-for-profit member-ownership structure (News Now Jan. 19, 2012).
What sets Thrivent apart from other credit unions now, Sipe said, is that the credit union operates under the faith-based principles of smart money management and generosity.
Those biblical principles also say to "give first and live generously; spend less than we earn; build emergency reserve savings; don't over-rely on debt, especially bad debt; plan for financial goals; and protect our families and our resources," Sipe said.
Thrivent recently extended its common bond so that it can serve an even broader swath of the Christian community, Sipe told the Post-Crescent.
As its sponsor organization--Thrivent Financial--continues to grow, the credit union wants to help more members manage their finances to achieve their financial goals.
"We believe that our investment into technology, giving our members flexibility and unique banking options, will allow us to serve those who want their finances to reflect their faith," Sipe said.