Community Savings Center Celebrates Grand Opening; Thrivent Financial for Lutherans Collaborates to Create Innovative Program Aimed at Helping Low-Income Working Individuals Build Financial Security.

MINNEAPOLIS -- It's a first of its kind in Illinois and one of only a few in the country. The Community Savings Center on Chicago's west side celebrated a grand opening May 30 with a keynote address by Chicago Mayor Richard Daley.

Thrivent Financial for Lutherans contributed $2.6 million and collaborated with Bethel New Life Inc. and Park National Bank to create the Community Savings Center located at 310 N. Pulaski Road, Chicago. The Center, which opened in January 2006, brings together financial education, accessible and affordable financial products and a network of resources under one roof in order to help low-income working individuals achieve financial security.

"Thrivent Financial is thrilled our idea for this type of collaborative program has come to fruition," said Brad Hewitt, senior vice president of fraternal operations for Thrivent Financial. "Through the Community Savings Center, we are helping people learn how to manage their money, save and build good credit. Thrivent Financial is making a $2.6 million investment in this neighborhood's future because when people get ahead financially, the entire community benefits."

Specifically, Thrivent Financial contributed $1 million for an individual development account (IDA) program called $mart $avers. The program is co-run by Thrivent Financial and Bethel New Life Inc., a Lutheran non-profit agency that started the program in 2000 to help economically disadvantaged families save toward accumulating appreciable assets. The U.S. Department of Health and Human Services has matched Thrivent Financial's grant with a $1 million grant of its own. An additional $1.6 million will be contributed by Thrivent Financial for operational costs over the next five years.

"Clearly, we would not have been able to do this without our other allies - Park National Bank which opened a branch at the Community Savings Center and Thrivent Financial for Lutherans which is providing $2.6 million to fund the Center's educational programs and services," said Steven McCullough, CEO of Bethel New Life Inc.

$mart $avers, one program offered at the Community Savings Center, combines financial education with a 2:1 savings incentive. Participants are required to enroll in a financial education class to improve their money management skills. After completing the course, every dollar they save is matched. Savings can only be used to purchase a first home, start or expand a small business or finance a post-secondary education. Participation is generally limited to those with household incomes no greater than 200 percent of the poverty line, which equates to income below $40,000 a year for a family of four. Program participants who reach their maximum savings potential will save $2,000 and receive a $4,000 match over the course of a 36-month savings period. If fully utilized, the $2 million in total grants should enable the purchase of 200 new homes, post-secondary education for 120 participants and investments in 60 small businesses.

In its first four months of operation, more than 100 people enrolled in the $mart $avers program have finished the required financial education classes and saved more than $7,600 resulting in $22,800 after the 2:1 match.

About Thrivent Financial for Lutherans

Thrivent Financial for Lutherans is a Fortune 500 financial services membership organization helping nearly 3 million members achieve their financial goals and give back to their communities. Thrivent Financial and its affiliates offer a broad range of financial products and services including life insurance, annuities, mutual funds, disability income insurance, bank products and more. As a not-for-profit organization, Thrivent Financial sponsors national outreach programs and activities that support congregations, schools, charitable organizations and individuals in need. For more information, visit www.thrivent.com.

Securities are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN, 55415-1665, 800-THRIVENT (800-847-4836), a wholly-owned subsidiary of Thrivent Financial for Lutherans. Member NASD. Member SIPC.