Although they are less frequent than credit union to bank charter changes, from time to time some banks have made the move to become credit unions, according to the NCUA.
Thrivent Financial for Lutherans is in the process of launching a new credit union that will take the consumer business of Thrivent Financial Bank, while the bank will remain in existence as a vehicle for offering trust and investment services.
The latest bank to have become a CU prior to Thrivent Financial Bank is the now 301,000-member, $4.1 billion ESL Federal Credit Union in Rochester, N.Y.
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