View source for Thrivent

{{short description|Member-owned provider of insurance and other financial services}}
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{{advert|date=November 2019}}
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{{Infobox organization
| logo             = Thrivent Logo.png
| predecessor      = Aid Association for Lutherans<br>Lutheran Brotherhood
| type             = [[Non-profit organization|Not-for-profit]] membership organization
| status           = Fraternal benefit society<br>[[Not-for-profit organization]]
| services         = [[Financial services]]
| key_people       = Teresa Rasmussen, President & [[CEO]]<br>N. Cornell Boggs, [[Chairman of the Board|Chair of the board]] 
| footnotes        = 
| name             = Thrivent Financial for Lutherans
| num_members      = Approx. 2.5 million (Jan. 1, 2025);
| formation        = {{Start date|2002|01|01}}
| founder          = 
| formerly         = Thrivent Financial for Lutherans (2002–2014)<br>Thrivent Financial (2014–2020)
| defunct          = <!-- {{End date|YYYY|MM|DD}} -->
| location_city    = [[Minneapolis, Minnesota]]<br>[[Appleton, Wisconsin]]
| location_country = [[United States]]
| membership       = Christians
| locations        = 
| area_served      = Global
| products         = 
| revenue          = 
| operating_income = 
| net_income       = 
| assets           = 
| equity           = 
| owner            = 
| num_employees    = Corporate: Approx. 4,500 <br>Financial representatives: Approx. 3,500
| parent           = 
| divisions        = 
| subsid           = 
| homepage         = {{URL|www.thrivent.com|Thrivent.com}}
| intl             = 
}}

'''Thrivent Financial for Lutherans''' (marketing name '''Thrivent''') ({{IPAc-en|ˈ|θ|r|aɪ|v|ᵻ|n|t}} {{respell|THRYVE|int}}), is an American [[Fortune 500]]<ref>{{Cite web|url=http://fortune.com/fortune500/thrivent-financial-for-lutherans/|title=Thrivent Financial for Lutherans|website=Fortune|access-date=2018-12-13}}</ref> [[Not-for-Profit|not-for-profit]] financial services organization headquartered in [[Minneapolis, Minnesota]], and [[Appleton, Wisconsin]], and founded by [[Lutheranism|Lutherans]]. As a member-owned [[fraternal benefit society]], it operates under a chapter system, serving nearly 2.3 million members.<ref>{{Cite web|url=https://www.thrivent.com/about-us|title=About us|website=Thrivent.com}}</ref>

Operating through its local chapters nationwide, Thrivent and its subsidiaries offer financial products and services including [[life insurance]], [[Annuity (financial contracts)|annuities]], [[mutual fund]]s, [[disability income insurance]], credit union products, money management, brokerage services, and retirement planning.

The organization and its members provide volunteer services to charitable organizations and schools. For example, Thrivent members reportedly volunteered more than 8.6 million hours in 2013 and contributed $182.7 million in that year to organizations and activities that aim to strengthen families and communities.<ref>{{cite press release|url=http://news.thrivent.com/newsroom/news/index.phtml?category=All&id=765 |archive-url=https://archive.today/20140616133547/http://news.thrivent.com/newsroom/news/index.phtml?category=All&id=765 |url-status=dead |archive-date=June 16, 2014 |title=News Release |access-date=2014-06-16 |date=2014-03-03 |publisher=Thrivent }}</ref>

In June 2013, members voted to allow non-Lutheran [[Christianity|Christians]] to join, and as a result in March 2014 the marketing name for Thrivent Financial for Lutherans was shortened to '''Thrivent Financial'''.<ref>{{Cite web |url=https://www.thrivent.com/aboutus/ourorganization/history.html |title=Heritage |publisher= Thrivent Financial |access-date=2014-06-13 |archive-url=https://web.archive.org/web/20140714204139/https://www.thrivent.com/aboutus/ourorganization/history.html |archive-date=2014-07-14 |url-status=dead }}<br>- {{Cite web|url=https://www.investmentnews.com/thrivent-financial-quietly-expands-beyond-christians-72030|title=Thrivent Financial quietly expands beyond Christians|date=2017-08-23|website=Investment News|access-date=2020-03-25}}</ref> In the summer of 2020, the marketing name was changed to '''Thrivent'''.<ref>{{cite news |last1=Lee |first1=Schafer |title=How Thrivent is gently raising its distinctive profile in a moment of change |url=https://www.startribune.com/schafer-how-thrivent-is-gently-raising-its-distinctive-profile-in-a-moment-of-change/572045252/?refresh=true |access-date=August 15, 2020 |work=[[Star Tribune]] |date=August 8, 2020}}</ref>

==Predecessor groups==
Thrivent Financial was officially formed on January 1, 2002, with the merger of Aid Association for Lutherans (AAL) and Lutheran Brotherhood (LB), which had been established in 1902 and 1917 respectively. The merger formed the largest fraternal benefit society in the United States.<ref name='jobsource'>{{cite web|url=http://nyjobsource.com/thrivent.html |title=Thrivent Financial for Lutherans |access-date=2009-06-26 |date=2006-03-05 |publisher=NYJobSource.com }}</ref>

===Aid Association for Lutherans===
[[File:New home office building, Aid Association for Lutherans, Legal Reserve Fraternal Life Insurance, Appleton, Wisconsin.jpg|thumbnail|left|Head Office of the Aid Association for Lutherans, circa 1930-1945]]
====History====
In the late 19th and early 20th century, the [[Lutheran Church–Missouri Synod]] forbade its members to join fraternal societies because they required initiation rites and secret oaths. Life insurance was also frowned upon in some quarters since [[Martin Luther]] had written against similar enterprises in his day, as the practice could be considered a form of [[usury]] and reflected distrust in God.<ref name="Schmidt pp.25-6">Alvin J. Schmidt, ''Fraternal Organizations''. Westport, CT: Greenwood Press, 1980, pp. 25-26.</ref>

In 1899, Albert Voecks, a member of [[St. Paul Evangelical Lutheran Church (Appleton, Wisconsin)|St. Paul Lutheran Church]] in [[Appleton, Wisconsin]], broached the idea of creating an insurance society for Lutherans to fellow church members Gottlieb Ziegler and William Zuehlke.<ref name="timeline">{{cite web|url=https://www.thrivent.com/aboutus/ourorganization/history_timeline.html |publisher=Thrivent Financial |title=Historic Timeline|archiveurl=https://web.archive.org/web/20130921053950/https://www.thrivent.com/aboutus/ourorganization/history_timeline.html |archivedate=2013-09-21 }}</ref> They each gave $13 to the fund, and found several hundred others willing to contribute $5 each.<ref name="Schmidt pp.25-6"/> In 1902, the founders of the society recruited the 500 applicants necessary to receive a charter from the State of Wisconsin for their group.<ref name="timeline"/> It was chartered on November 24, 1902, as the Aid Association for Lutherans in Wisconsin and Other States.<ref name="Schmidt pp.25-6"/>

Like most fraternal benefit societies of the time, the AAL operated on the [[Actuarial science|actuarially]] unsound graded assessment system. In 1905, it began a move to the legal reserve system, a transformation that was completed in 1911. Women were also admitted as members in 1905.<ref name="timeline"/> Most of the early business was conducted in German, until this was discontinued in 1927.<ref name="Schmidt p.26"/>

Membership was open only to members of the Missouri Synod and other Lutherans who were in fellowship with it until the mid-1960s, when it became open to Lutherans of all denominations. In the late 1960s, the association had 792,000 members, which increased to about 1.2 million members in 5,019 branches in 1978.<ref>Schmidt, pp. 26-27.</ref> By 1979, it was the largest member of the [[National Fraternal Congress of America]] and ranked 13th among the 1,800 insurance firms in the country.<ref name="Schmidt p.26">Schmidt, p. 26.</ref>{{clarify|date=September 2013}}

==== Nonprofit organization====
The association was organized on two levels: the local branches attached to Lutheran congregations and the national level, which consisted only of a board of directors that met four times a year. The AAL was particular about its locals ''not'' being called "lodges" because that was too similar to the nomenclature of oath-bound, ritualistic groups such as the [[Freemasons]] or the [[Oddfellows]]. The AAL was headquartered in Appleton, Wisconsin.<ref>Schmidt, p. 27.</ref>

====Philanthropy====
The AAL was also involved philanthropically, giving money to scholarships, support for educational institutions and training for church workers. Grants were made to agencies, boards, minorities, and homes for the aged and disabled. The association also had its own family health program and sponsored blood drives and family health workshops. It joined the [[National Center for Voluntary Action]].<ref name="Schmidt p.26"/>

===Lutheran Brotherhood===
====History====
The Lutheran Brotherhood dates to the founding convention of the [[Evangelical Lutheran Church (United States)|Norwegian Lutheran Church of America]], when [[J. A. O. Preus]], Minnesota's [[state insurance commissioner]], proposed launching a [[not-for-profit]] aid society.<ref name="timeline"/> As with other Lutheran denominations, this move proved controversial, with some saying it indicated lack of faith in God. Those who favored the society prevailed by arguing that the aid society would prevent Norwegian Lutherans from joining unacceptable secret beneficial societies or "lodges", which was forbidden by conservative Lutheran doctrine.<ref name="Schmidt p.210">Schmidt, p. 210.</ref>

The organization authorized by the convention was called the Luther Union, and was incorporated in the state of Minnesota on September 18, 1918. That month, the Luther Union entered into negotiations with Lutheran Brotherhood of America of [[Des Moines, Iowa]]. These two organizations merged in the Lutheran Brotherhood in 1920.<ref name="Schmidt p.210"/>

The articles of incorporation of Lutheran Brotherhood stated its purpose:<ref>Philip K. Strand & Hakala Associates, ''A Common Bond: The Story of Lutheran Brotherhood''. Minneapolis: Lutheran Brotherhood, 1989.</ref><blockquote>To aid the Lutheran Church in extending the Lutheran Faith, to foster patriotism, loyalty, justice, charity and benevolence, to provide education, instruction, proper entertainment and amusements, to encourage industry, saving, thrift and development on the part of its members, to give aid in the case of poverty, sickness, accident or old age, and otherwise promote the spiritual, intellectual and physical welfare of its members.</blockquote>Membership was open only to Lutherans. There were 550,000 members in 1965 and 900,000 in 1979.<ref name="Schmidt p.210" />

====Non-profit organization====
Local units were called "branches", and were divided into three categories: A-1, affiliated to Lutheran congregations; A-2, usually sponsored by a group within a Lutheran parish; and A-3, geographic branches. The Lutheran Brotherhood had a quadrennial convention and a board of directors who managed its business. It was headquartered in [[Minneapolis]].<ref name="Schmidt p.211">Schmidt, p. 211.</ref>

====Philanthropy====
The LB helped establish new Lutheran congregations through the Church Extension Fund, sponsored scholarships for Lutheran clergy, and arranged seminars on Christian topics.<ref name="Schmidt p.210"/>

===Mergers===
====Lutheran Life Insurance Society of Canada====
In 1972, the Canadian branches of the Lutheran Brotherhood and the Aid Association for Lutherans merged as a result of the desire for an indigenous Canadian fraternal benefit society. They formed a new fraternal order called the Faith Life. Like the AAL and LB, the LLISC was organized into branches and run by a board of directors. There were 120 branches in 1979. The society was based in [[Kitchener, Ontario]]. The LLISC provided scholarships to Lutheran educational institutions, gave grants to churches and church-related organizations and projects, and gave reduced-rate mortgages for Lutheran churches.<ref name="Schmidt p.211"/>

====Thrivent Financial for Lutherans====
The AAL and LB functioned independently throughout the 20th century. In June 2001, after close consideration of how combining the two organizations would benefit members, the AAL and LB merged, with the merger completed by the end of that year. After the merger, in 2002, a new name was voted upon and approved by the members of the merged organization: Thrivent Financial for Lutherans.

==Financial services==
Thrivent provides advice center products.

==Financial standing==
In 2016, Thrivent Financial ranked 318 on the Fortune 500<ref>{{Citation|title=Fortune 500|date=2016|url=http://beta.fortune.com/fortune500/thrivent-financial-318|newspaper=Fortune|access-date=2016-09-30}}</ref> and received an [[A.M. Best]] rating of AA+ (Superior)<ref>{{Cite web|url=https://news.ambest.com/PR/PressContent.aspx?altsrc=14&refnum=24009|title=A.M. Best Affirms Ratings of Thrivent Financial for Lutherans and Thrivent Life Insurance Company|website=validate.perfdrive.com}}</ref> and a [[Fitch Group|Fitch]] rating of AA+ (Very Strong).<ref>[https://www.reuters.com/article/idUSFit958228 "Fitch Upgrades Thrivent Financial's IFS Rating to 'AA+'; Outlook Stable"], ''Reuters''
</ref>

==Outreach==
Thrivent members made donations to Haiti relief following the [[2010 Haiti earthquake]] through [[Lutheran World Relief]], [[Evangelical Lutheran Church in America|ELCA]] Domestic Disaster Response, [[Lutheran Church–Missouri Synod|LCMS]] World Relief/Human Care, and [[Wisconsin Evangelical Lutheran Synod|WELS]] Committee on Relief.<ref>[https://web.archive.org/web/20210309181227/https://www.thrivent.com/helpinghaiti/index.html Thrivent website].{{dead link|date=June 2022}} Retrieved January 16, 2010.</ref> Thrivent Financial provided funding for the 2003 film ''[[Luther (2003 film)|Luther]]''.{{citation needed|date=September 2016}}

===Thrivent Choice===
Through its Thrivent Choice program, members gave 43 million dollars in 2016. The program offers members the opportunity to make recommendations for where some of Thrivent's charitable outreach funds are directed. The list of charities comes from members and non-profits can apply to be eligible for choice dollars.<ref>{{cite web|title=Thrivent Choice|url=https://www.thrivent.com/thriventchoice/|publisher=Thrivent}}</ref>

===Thrivent builds with Habitat for Humanity===
Thrivent has formed an alliance with [[Habitat for Humanity]] called [[Thrivent Builds with Habitat for Humanity]] through which it contributes financial assistance for building affordable homes. The initiative also sponsors homebuilding trips by Thrivent members throughout the world.<ref name='habitat'>{{cite press release |url=http://www.habitat.org/newsroom/2008archive/12_05_2008_Thrivent_announces_09_commitments.aspx |title=Thrivent Builds with Habitat for Humanity helps keep the dream of homeownership alive for low-income families, announces 2009 commitments |access-date=June 26, 2009 |date=December 5, 2008 |publisher=Habitat for Humanity |url-status=dead |archive-url=https://web.archive.org/web/20081217123814/http://www.habitat.org/newsroom/2008archive/12_05_2008_Thrivent_announces_09_commitments.aspx |archive-date=December 17, 2008 }}</ref>

The Thrivent Builds alliance began in September 2005,<ref>{{cite press release|url=http://www.habitat.org/newsroom/2005archive/insitedoc009373.aspx |title=Thrivent deepens relationship with Habitat for Humanity|date=May 13, 2005|publisher=Habitat for Humanity|archiveurl=https://web.archive.org/web/20081129171843/http://www.habitat.org/newsroom/2005archive/insitedoc009373.aspx |archivedate=2008-11-29 }}</ref> with a four-year commitment of $105 million. Thrivent Financial chose Habitat for Humanity as an ally because, in the previous ten years, its members had already proven their interest in volunteering with them by building over 500 homes.<ref>{{cite web|url=http://www.thriventbuilds.com/partnership/index.html |title=About Thrivent Builds|publisher=Thrivent Builds}}</ref> In December 2007, Thrivent Financial increased its total commitment to $125 million.<ref>{{cite press release|url=http://www.habitat.org/newsroom/2007archive/12_03_2007_Thrivent_HFH.aspx#P1_16 |title=Thrivent Financial for Lutherans will build 322 Habitat for Humanity houses in '08, increases commitment by $20 million|date=December 3, 2007|publisher=Habitat for Humanity|archiveurl=https://web.archive.org/web/20120214182222/http://www.habitat.org/newsroom/2007archive/12_03_2007_Thrivent_HFH.aspx#P1_16 |archivedate=2012-02-14 }}</ref> The alliance makes Thrivent Financial one of Habitat's largest single allies and aims to increase Habitat's annual house production by hundreds of U.S. homes per year and more around the world.<ref>{{Cite web |url=http://www.thriventbuilds.com/newsroom/files/Alliance_Fact_Sheet.doc |title=Thrivent Builds with Habitat for Humanity Alliance Fact Sheet |access-date=November 23, 2016 |archive-date=July 17, 2011 |archive-url=https://web.archive.org/web/20110717053332/http://www.thriventbuilds.com/newsroom/files/Alliance_Fact_Sheet.doc |url-status=dead }}</ref>

====Programs====
There are two programs within the Thrivent Builds alliance.

*Through '''Thrivent Builds Homes''', Thrivent Financial and other Lutheran volunteers help build more than 300 homes a year within the United States with more than 200 Habitat for Humanity affiliates.<ref>{{Cite web |url=http://news.thrivent.com/newsroom/news/index.phtml?id=513 |title=Thrivent Builds with Habitat for Humanity helps keep the dream of homeownership alive for low-income families, announces '09 commitments |access-date=November 23, 2016 |archive-date=February 23, 2012 |archive-url=https://web.archive.org/web/20120223005533/http://news.thrivent.com/newsroom/news/index.phtml?id=513 |url-status=dead }}</ref> By year-end 2008, over 1,000 homes had been built with Habitat for Humanity families through this program.<ref>{{cite web|url=http://www.habitat.org/gv/thrivent/thrivent_builds.aspx |title=Thrivent Builds page on Habitat's website|archiveurl=https://web.archive.org/web/20090427191010/http://www.habitat.org/gv/thrivent/thrivent_builds.aspx |archivedate=2009-04-27 }}</ref>
*'''Thrivent Builds Worldwide''' offers Thrivent Financial members the opportunity to volunteer for one- to three-week homebuilding trips around the world where there are existing Habitat for Humanity programs. Thrivent Builds volunteers have helped build Habitat homes in Romania,<ref>{{Cite web |url=http://www.thriventbuilds.com/worldwide/journal/journal1.html |title=Marie Uhrich's Romania Thrivent Builds Worldwide trip journal |access-date=November 23, 2016 |archive-date=October 14, 2012 |archive-url=https://web.archive.org/web/20121014051311/http://www.thriventbuilds.com/worldwide/journal/journal1.html |url-status=dead }}</ref> Poland,<ref>{{Cite web |url=http://www.thriventbuilds.com/worldwide/journal/journal17.html |title=Terri Gafford's Poland Thrivent Builds Worldwide trip journal |access-date=November 23, 2016 |archive-date=July 5, 2008 |archive-url=https://web.archive.org/web/20080705030439/http://www.thriventbuilds.com/worldwide/journal/journal17.html |url-status=dead }}</ref> South Africa,<ref>{{Cite web |url=http://www.thriventbuilds.com/worldwide/journal/journal11.html |title=Diane Simon's South Africa Thrivent Builds Worldwide trip journal |access-date=November 23, 2016 |archive-date=July 5, 2008 |archive-url=https://web.archive.org/web/20080705030231/http://www.thriventbuilds.com/worldwide/journal/journal11.html |url-status=dead }}</ref> New Zealand,<ref>{{Cite web|url=http://www.travelblog.org/Bloggers/TeamNZ2008/|title=TeamNZ2008 &#124; Thrivent Builds Worldwide Team in Whangarei, New Zealand - October 2008 &#124; Travel Blog}}</ref> Guatemala,<ref>[http://www.travelpod.com/travel-blog/shellytoni/1/tpod.html Guatemala Travel Blog] {{Webarchive|url=https://web.archive.org/web/20090425200447/http://www.travelpod.com/travel-blog/shellytoni/1/tpod.html |date=2009-04-25 }}</ref> El Salvador,<ref>{{Cite web |url=http://www.thriventbuilds.com/worldwide/journal/journal25.html |title=Nicole Doebert's Thrivent Builds Worldwide trip journal |access-date=November 23, 2016 |archive-date=July 16, 2009 |archive-url=https://web.archive.org/web/20090716223003/http://www.thriventbuilds.com/worldwide/journal/journal25.html |url-status=dead }}</ref> the Mississippi Gulf Coast<ref>{{Cite web |url=http://www.thriventbuilds.com/worldwide/journal/journal27.html |title=Donna Mulder's Thrivent Builds Worldwide trip journal |access-date=November 23, 2016 |archive-date=July 18, 2009 |archive-url=https://web.archive.org/web/20090718203814/http://www.thriventbuilds.com/worldwide/journal/journal27.html |url-status=dead }}</ref> and many more destinations.

Additionally, there are two whole communities being built:

*In the Mississippi Gulf Coast, Thrivent Builds is sponsoring a community of 28 homes with families displaced by Hurricanes [[Hurricane Katrina|Katrina]] and [[Hurricane Rita|Rita]].<ref>{{cite web|url=http://www.christianpost.com/Society/ngo/2008/12/thrivent-donates-24m-for-09-habitat-homes-05/index.html|title=Thrivent Donates $24M for '09 Habitat Homes|author=Jennifer Riley |work=The Christian Post|date= July 30, 2012|archiveurl=https://archive.today/20120730114422/http://www.christianpost.com/Society/ngo/2008/12/thrivent-donates-24m-for-09-habitat-homes-05/index.html|archivedate=July 30, 2012}}</ref>
*An additional community of 75 homes is being sponsored in Santa Ana, [[El Salvador]], with 40 teams of Thrivent volunteers helping to build in 2009.

===Library===
Aid Association for Lutherans maintained a library of over 12,000 books on business management, fraternalism, and life and health insurance.<ref>Axelrod, p. 5.</ref>

==Recognition==
Since 2012, Thrivent has been named on the list of The World's Most Ethical Companies, thirteen years running, by ''[[Ethisphere Magazine]]''. Assessment is based upon the [[Ethisphere Institute]]'s Ethics Quotient (EQ) framework which offers a quantitative way to assess a company's performance in an objective, consistent and standardized way. Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%), and provided to all companies who participate in the process.<ref>{{cite web |url=http://worldsmostethicalcompanies.ethisphere.com/honorees |title=Honorees |access-date=March 17, 2017 |work=Ethisphere Magazine |publisher=Ethisphere |archive-date=March 16, 2017 |archive-url=https://web.archive.org/web/20170316192736/http://worldsmostethicalcompanies.ethisphere.com/honorees/? |url-status=dead }}</ref>

==Private prison controversy==
Thrivent has been the subject of awareness campaigns by migrant rights groups and other activists for its holdings in [[CoreCivic]] and the [[GEO Group]], the two largest U.S. Government immigration detention contractors, whose assets include detention facilities at the U.S.-Mexico border. In its [https://techknowbits.com/2019/07/13/the-geo-group-nysegeo-shares-down-6-6.html first quarter 2019 SEC filings], Thrivent reported 87,038 shares of CoreCivic, Inc&mdash;currently valued at over $1.5 million&mdash;and 142,432 shares of GEO Group&mdash;currently valued at just under $2.5 million. Banks such as Wells Fargo, Bank of America, and others have divested from these companies after calls from migrant rights groups. {{Citation needed|date=March 2020}}

==See also==
* [[Lutheranism by region#North America|Lutheranism in North America]]

==References==
{{reflist}}

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{{Minnesota Corporations}}
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[[Category:Appleton, Wisconsin]]
[[Category:Companies based in Minneapolis]]
[[Category:Companies based in Wisconsin]]
[[Category:Organizations established in 2002]]
[[Category:Financial services companies established in 2002]]
[[Category:Lutheran organizations]]
[[Category:2002 establishments in Wisconsin]]
[[Category:Non-profit organizations based in Minnesota]]
[[Category:Non-profit organizations based in Wisconsin]]
[[Category:Habitat for Humanity]]