Thrivent rolls out national ad campaign targeting younger, more diverse consumers

Five years after its first national marketing strategy failed to fully land, Thrivent is updating its brand as the financial services firm rolls out a broader array of products and seeks to attract a younger and more diverse client base.

A marketing campaign launched Monday brings a new look to the 120-year-old Fortune 500 company, whose roots are firmly planted in the Midwest with its corporate headquarters in Minneapolis and operations center in Appleton, Wis.

The effort aims to set Thrivent apart from its competitors, emphasizing both its focus on financial services and the opportunities around charitable giving.

TV advertisements carrying Thrivent’s new tagline — “Where Money Means More” — will appear in a 30-second spot during commercial breaks for major sporting events, such as college basketball and next month’s NFL draft. Thrivent is also investing in the digital space across social media channels, streaming platforms and podcasts.

With the latest ad campaign, Thrivent upped its marketing budget from $32 million to $50 million, a 56% increase that company officials say will bring the company in line with peers.

Thrivent unveiled its first nationally targeted ads in 2020. At the time, the company was most associated with being a charity and sought to clearly establish itself as a player in the financial services game, said Carolyn Sakstrup, Thrivent’s chief growth and generosity officer.

“What we didn’t do as well is truly differentiate ourselves in the space of financial services,” Sakstrup told the Minnesota Star Tribune in an interview. “So, to some extent, we kind of lost that side of the story that is so important: We do bring generosity to financial services.”

Thrivent’s philosophy of viewing money as a tool to achieve goals — including by donation to causes members care about — is one of the company’s unique attributes, Sakstrup said. She pointed to $331 million donated through its generosity programs in 2024.

In the new ad push, Thrivent officials hope to attract younger and more diverse clients — and “lean into demographics where historically we have underserved,” Sakstrup said.

Thrivent is not a publicly traded company. Rather, it is a fraternal benefit organization, where its 2.4 million members are shareholders.

Originally founded to exclusively serve Lutherans, the nonprofit expanded its services in 2013. It now offers membership to all Christians. Members have access to a suite of professional services and products, including financial planning, investment advice and insurance coverage and banking through its credit union.

Thrivent last year unveiled an option for small-dollar private equity investment, opening up an opportunity traditionally out of reach for most. The space is usually reserved for institutional investors or those with at least $5 million to commit; Thrivent’s program allows everyday people to participate for as little as $50 per month.

Also last year, Thrivent secured a rare industrial bank charter from the Federal Deposit Insurance Corp., clearing the way for the establishment of Thrivent Bank, which is authorized to offer its services outside its membership network.

Members of Thrivent Credit Union approved a merger with Thrivent Bank earlier this year. The combination is set to take effect May 31. Sakstrup said Thrivent plans to introduce more specific marketing around its banking products in the fall.