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Thrivent Financial Bank opts out of Transaction Account Guarantee Program

Decision reflects organization’s strong capital and liquidity position


MINNEAPOLIS (November 17, 2009) – Thrivent Financial Bank, a wholly owned subsidiary of Thrivent Financial for Lutherans, announced today that it will opt-out of the six-month extension of the Transaction Account Guarantee Program (TAGP). The current program, which is in effect through December 31, 2009, provides full insurance coverage from the FDIC on noninterest-bearing transactional accounts with balances greater than $250,000. Effective January 1, 2010, FDIC insurance will be limited to $250,000 per transactional account.

“This decision is yet another sign of the strength and stability our customers have come to expect of us,” said Todd H. Sipe, president and CEO of Thrivent Financial Bank. “We are well capitalized and our decision to not follow the market into the high-risk lending business has served us well.”

Thrivent Financial Bank offers a full-line of banking products and services to all consumers nationwide. For more on Thrivent Financial Bank, go to www.thriventbank.com or call 866-226-5225.

About Thrivent Financial for Lutherans
Thrivent Financial for Lutherans is a not-for-profit, Fortune 500 financial services membership organization helping approximately 2.6 million members achieve their financial goals and give back to their communities. Thrivent Financial and its affiliates offer a broad range of financial products and services including life insurance, annuities, mutual funds, disability income insurance, bank products and more. As a not-for-profit organization, Thrivent Financial creates and supports national outreach programs and activities that help congregations, schools, charitable organizations and individuals in need. For more information, visit www.thrivent.com.

Securities are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN, 55415-1665, 800-THRIVENT (800-847-4836), a wholly-owned subsidiary of Thrivent Financial for Lutherans. Member FINRA. Member SIPC.

Bank products and trust services are offered through Thrivent Financial Bank, (Member FDIC, Equal Housing Lender), a wholly owned subsidiary of Thrivent Financial for Lutherans. Insurance, securities, investment advisory services, and trust and investment management accounts are not deposits, are not guaranteed by Thrivent Financial Bank, are not insured by the FDIC or any other federal government agency, and may go down in value.


Contact Information:
   Brett Weinberg
Director, Public Relations
brett.weinberg@thrivent.com
Phone: (612) 844-4272

 

 

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Appleton Office:
4321 N. Ballard Road
Appleton, WI 54919-0001 USA

Minneapolis Office:
625 Fourth Avenue S.
Minneapolis, MN 55415-1624 USA

Contact Us
800-THRIVENT
(800-847-4836)
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Insurance products issued or offered by Thrivent Financial for Lutherans, Appleton, WI. Not all products are available in all states. Products issued by Thrivent Financial for Lutherans are available to applicants who meet membership, insurability, U.S. citizenship and residency requirements. Securities and investment advisory services are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415, a FINRA and SIPC member and a wholly owned subsidiary of Thrivent Financial for Lutherans. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc. They are also licensed insurance agents of Thrivent Financial.

Bank products and trust services are offered through Thrivent Financial Bank, (Member FDIC, Equal Housing Lender), a wholly owned subsidiary of Thrivent Financial for Lutherans. Insurance, securities, investment advisory services, and trust and investment management accounts are not deposits, are not guaranteed by Thrivent Financial Bank, are not insured by the FDIC or any other federal government agency, and may go down in value.