Thrivent Financial for Lutherans

Thrivent Financial for Lutherans if a financial products and services company and is a Fortune 500 company. The company can trace its history back to the Aid Association for Lutherans and Lutheran Brotherhood. Aid Association for Lutherans was chartered in 1902 as a fraternal benefit society, operating on the grade assessment system before moving to the legal reserve system in 1911. Membership in the association was available only to Missouri Synod and other Lutherans who were in fellowship until the 1960s, when the association became open to all Lutherans. By 1978, the association would have over 1.2 million members located in over 5,000 branches around the country, becoming the largest member in the National Fraternal Congress of America. The Lutheran Brotherhood, at first Luther Union, was incorporated in Minnesota in 1918 and would merge that very year with Lutheran Brotherhood of America to form the Lutheran Brotherhood in 1920. The two companies would function as nonprofit organizations independent of each other until the 21st century, when the Aid Association for Lutherans and Lutheran Brotherhood decided to merge in 2001 and rename itself to its current Thrivent Financial for Lutherans one year later. The company would continue to grow and would be opened to non-Lutheran Christians in 2013, thereafter shortening the name to just Thrivent Financial. Thrivent Financial has over 2.4 million members located throughout the country with 1,300 chapters. It currently has over 3,000 employees with over 2,300 of them being financial representatives. The company has over $88 billion in total assets under management held in 54 accounts. Most of its clients are investment companies, although it also provides its services to pooled investment vehicles, pension and profit sharing plans, and charities, in order of decreasing clientele. Thrivent Financial offers a variety of mutual funds including its Natural Resources Fund, Aggressive Allocation Fund, Growth and Income Fund, Moderately Conservative Allocation Fund, and Limited Maturity Bond Fund.