Thrivent not just for Lutherans anymore
Minneapolis-based Thrivent Financial for Lutherans is extending its membership eligibility to all Christians.
Thrivent won't just be for Lutherans starting next year. Its members voted in favor of offering the company's exclusive insurance and annuity products to a wider, though still restricted, customer base.
Thrivent is unusual in that it's both a not-for-profit, "fraternal benefit society" and a Fortune 500 company. To meet tax requirements, Thrivent must have a "common bond" between its members. That common bond will now include all Christians, not just Lutherans.
The company won't change its legal name but might consider doing so in the future.
Thrivent has about 2.5 million members; about 10 percent of them live in Minnesota.
Some of the organization's products, such as mutual funds, can be purchased by non-members, regardless of denomination.
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