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Stock impact report

Thrivent makes move to attract younger clients by creating online bank [Yahoo! Finance]

U.S. Bancorp (USB) 
Last u.s. bancorp earnings: 4/15 06:45 am Check Earnings Report
Company Research Source: Yahoo! Finance
Now the Minneapolis-based national financial giant is creating an online bank to reach more and younger people earlier in their financial journeys. Thrivent, a financial services firm, has been affiliated with a credit union for years. It recently received Federal Deposit Insurance Corp. (FDIC) approval for an industrial bank charter that will merge with the credit union. The creation of an online bank fits with the goals of CEO Terry Rasmussen to upgrade technology at the 121-year-old Fortune 500 organization, especially to customers who expect their financial services to be delivered over their smartphones. Thrivent, a nonprofit fraternal benefit organization, chose an industrial bank charter for several reasons, including that it does not require the parent firm to be a holding company — for example, how U.S. Bancorp owns U.S. Bank. Choosing an industrial bank charter was a bit of a risk, though. Thrivent officials said only three industrial bank charters have been granted Show less Read more
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