Fraternal Advantage - Fall 2009

Teresa Rasmussen Installed as Chair of the Board of Directors for the National Fraternal Congress of America
Senior vice president, general counsel and secretary of Thrivent Financial for Lutherans elected Chair of the Board.

The National Fraternal Congress of America (NFCA) announced that Teresa (Terry) J. Rasmussen, Senior Vice President, General Counsel and Secretary, Thrivent Financial for Lutherans, was elected Chair of the NFCA Board of Directors. Rasmussen’s installation capped the 123rd NFCA Annual Meeting, September 17-19, in San Antonio, Texas.

“The NFCA and its 69 member societies congratulate Terry on this prestigious election to serve as NFCA Chair of the Board,” said NFCA President and CEO Joseph J. Annotti. “The NFCA looks forward to working with Ms. Rasmussen this year to ensure the long-term viability of fraternal benefit societies and to strengthen the fraternal benefit system.”

In this leadership role, Rasmussen chairs the NFCA’s Board of Directors, provides oversight and counsel for NFCA staff, leads policymaking decisions and represents the fraternal benefit system at both insurance industry and fraternal gatherings throughout the United States.  On behalf of the NFCA, she represents 69 member societies with almost 10 million members.  Fraternal benefit societies are not-for-profit membership organizations offering volunteer, social and networking opportunities, along with insurance and other financial products.

In her acceptance speech, Rasmussen said that she wanted to focus on three areas in the year ahead:  solvency, governance and public awareness of fraternals.  She emphasized that to focus on these key issues that the NFCA needs its members’ “passion, commitment and expertise.”  She said, “I’m asking you to step forward when your name is called, and step up when you are needed…  In the end, a trade group – our trade group – can only go as far as its members take it.  Just as our individual societies exist for our members, the NFCA exists for its members as well.  We have the right people in place at the right time to accomplish very meaningful things for the fraternal system, but the level of involvement by the NFCA membership will determine if and how those things happen.” 

Rasmussen praised outgoing NFCA Chair Barbara A. Cheaney, Vice President, Communications & Marketing for Catholic Life Insurance in San Antonio. “We NFCA members owe Barbara a debt of gratitude for all the time, energy and effort she has put into leading us through this year’s many challenges,” said Rasmussen.  “So Barbara, on behalf of the NFCA and its members, I hope you and your society will accept our sincere thanks for all the sacrifices you have made during your successful tenure as our leader.”
 

Rasmussen was elected as a Director on the NFCA Board in September 2005 and as Vice Chair in September 2008.  Rasmussen oversees Thrivent Financial for Lutherans’ law, compliance, business risk management and government relations functions. In addition, she manages all Thrivent Financial board meetings. Prior to joining Thrivent Financial in 2005, Rasmussen served as vice president and general counsel of IDS Life Insurance Company, a subsidiary of American Express Financial Corp. In addition, she held the titles of vice president and managing counsel of asset management, insurance and annuities and the corporate secretary unit. Prior to that, she served in a variety of legal positions within American Express.

Formerly, Rasmussen was general counsel and executive vice president of Northeast Securities Corp, a family-owned bank holding company, and as an associate with Oppenheimer, Wolff & Donolly law firm, both based in Minneapolis. Rasmussen began her legal career in 1984 as part of the United States Attorney General’s honors program where she was a trial attorney in the tax division of the U.S. Department of Justice in Washington, D.C.

A native of Fergus Falls, Minn., Rasmussen received her bachelor’s degree in accounting from Moorhead State University (now Minnesota State University Moorhead). After passing her CPA exam in 1981, she earned her juris doctorate degree from the University of North Dakota Law School in Grand Forks in 1984.

About Thrivent Financial for Lutherans
Thrivent Financial for Lutherans is a not-for-profit, Fortune 500 financial services membership organization helping approximately 2.6 million members achieve financial security 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 creates and supports national outreach programs and activities that help congregations, schools, charitable organizations and individuals in need. For more information, visit www.thrivent.com.