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Thrivent Financial reports strong financial results and community outreach for 2009
Jon Stellmacher’s 32-year career also celebrated at 30th annual Report to the Community
| APPLETON, Wis. (May 25, 2010) – During its 30th annual Report to the Community, Thrivent Financial for Lutherans, a not-for-profit financial services membership organization, shared its 2009 financial results and community outreach. The organization also recognized the upcoming June 1 retirement and 32 years of service of Jon Stellmacher, senior vice president and chief of staff and administration. (View second news release for more on Stellmacher’s retirement.)
“Today, Thrivent Financial is a recognized national leader, both as a fraternal benefit society and in the broader context in financial services,” said Brad Hewitt, president and chief executive officer of Thrivent Financial. “When members work with us to meet their financial needs, they can also help meet needs in their community.” Hewitt, who became the organization’s president and CEO in February, reaffirmed Thrivent Financial’s purpose as a social business – to help Thrivent Financial members be good stewards of what God has entrusted to them – their time, talents and treasures. Hewitt stated: • We educate, inform and advise, provide programs and sell products so that members can take responsibility for their financial health and future. • We strengthen communities by bringing members together. • We encourage each other to put our faith into action for causes our members care about. Financial Performance “I’m especially pleased to share that Thrivent Financial remains financially strong and stable. In fact, we’re doing well even in these turbulent times,” said Hewitt during the annual Report to the Community. “Even as markets rose and fell last year, we maintained our careful, conservative approach to investing.” • As of Dec. 31, 2009, total adjusted surplus rose $323 million, or 7.5 percent, to $4.6 billion. This surplus level positions the organization for future growth and long-term financial strength. • Member assets (assets under management) grew $6.6 billion to $67.4 billion in 2009, an increase of 11 percent from 2008. • The organization provided more than $704 million in life insurance death benefits and more than $234 million in disability income benefits to Thrivent Financial members and their families last year. • For the third consecutive year, Thrivent Financial returned more than $300 million in dividends to eligible members in 2009. Community Outreach In addition, Hewitt highlighted that the organization’s financial success is connected to its ability to support outreach programs. • In 2009, Thrivent Financial and its members helped communities and congregations across the nation. Thrivent Financial and member outreach combined was $270 million. o Of that, the organization provided $113 million to communities, nonprofit organizations and Lutheran institutions through Thrivent Financial programs in 2009. o Members raised and donated an additional $157 million through the chapter system to support communities, congregations and individuals. • Members participated in 92,645 chapter activities during 2009, including social and educational events, recording a total of 19.1 million volunteer hours. • In addition, through Thrivent Builds with Habitat for Humanity, members helped build 319 homes in the U.S. during 2009. Over the past four years, more than 2,000 homes have been built worldwide through the Thrivent Builds program. Fox Cities Impact At the Report to the Community, Thrivent Financial reported that due to the efforts of its 30,000 local members, employees, retirees and the Thrivent Financial Foundation the Fox Cities benefited from more than $5.6 million and 250,000 volunteer hours during 2009. Recipients included community organizations, congregations and individuals. A few Fox Cities highlights include: • The Thrivent Financial for Lutherans Foundation provided 47 grants totaling more than $1.4 million to local nonprofit organizations in the Fox Cities during 2009. Most of the funds supported programs that focus on creating economic self-sufficiency in the areas of financial wellness, early childhood education and ending homelessness. • Last year, through the Employee Giving Campaign and the Thrivent Gift Multiplier program, Appleton employees donated about $500,000 to local nonprofits. These donations were matched by the Foundation, resulting in $1 million in community-focused giving. • Thrivent Financial employees, retirees and their families volunteered approximately 82,000 hours throughout 2009, dedicating their time and talents to service projects and nonprofits in the Fox Cities. • Thrivent Financial members in the Fox Cities participated in 482 community activities while volunteering 166,910 hours. • The Thrivent Builds with Habitat for Humanity alliance which supported construction of three homes in the Fox Cities in 2009. 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 financial security 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 Thrivent.com. Also, you can find us on Facebook and Twitter. Securities and investment advisory services are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415, 800-847-4836, 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. For additional important disclosure information, please visit Thrivent.com/disclosures. -END- 201002217 |
| Contact Information: | |||
| Brett Weinberg Director, Public Relations brett.weinberg@thrivent.com Phone: (612) 844-4272 | Dave Rustad, APR Senior Media Relations Specialist dave.rustad@thrivent.com Phone: (612) 844-7037 | ||
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