NU Online News Service, Jun 27, 7:22 p.m. – The Aid Association for Lutherans, Appleton, Wis., and the Lutheran Brotherhood, Minneapolis, say they hope to merge by the end of the year.
The executives of the fraternal benefit societies want to join forces to combine the strength of the two societies in a bigger, even stronger organization, and continue the societies’ “Christian framework,” according to the statement announcing the proposed merger.
If the merger is completed, the combined society would have 7,100 employees, 3 million members and $60 billion in assets under management.
The combined society would have a corporate center in Minneapolis, and an operations center in Appleton.
John Gilbert, chairman of the Aid Association, would be the chairman of the combined society.
Bruce Nicholson, president of the Lutheran Brotherhood, would be the president of the combined society.