The American Bankers Association has written to the NCUA urging the agency to prevent a potential field of membership expansion at the Thrivent Federal Credit Union in Appleton, Wis.
The 44,900-member Thrivent FCU was formed out of the consumer lending and deposit taking portions of a commercial bank, Thrivent Financial Bank, which the insurer still owns and uses to handle its investments business.
Since its chartering, Thrivent FCU has had as its field of membership defined anyone who is already a member of its sponsoring insurance organization as well anyone who works for a number of different national branches of the Lutheran Church. This was roughly 3 million people at the time the credit union was chartered.
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