“We are confident that Blaze Credit Union will continue to provide the same high level of personal service you’ve come to value. Blaze is well-positioned to support your ongoing financial needs, and we’re pleased to transition your relationship to their care.”
—Marc Campbell, Luminate Bank CEO
Frequently Asked Questions
Q: Why is Blaze Credit Union acquiring Luminate Bank’s Claremont location only?
As part of both organization’s strategic planning objectives, the changing markets and the needs of the communities, this transition will allow for additional financial services and access to the customers who bank with Luminate’s Claremont branch. Blaze has locations in Rochester, Waseca and will be opening a new branch in Mankato late 2026.
Q: Will Luminate Bank become Blaze?
No. Blaze is acquiring Luminate Bank’s Claremont location only. Luminate Bank will continue to operate as normal and will continue to serve customers at their Minneapolis branch location and online after the sale.
Q: What are the benefits to Luminate Bank Claremont Customers?
• Expanded branch and ATM networks. Customers will have access to 29 locations across Minnesota as well and 125,000 ATMs globally.
• Expanded personal and business account product and service offerings. Blaze offers a comprehensive suite of products and services including, free checking, savings, money markets, certificates, personal loans, auto loans, recreational vehicle loans, Visa credit cards, mortgages, home equity loans, vacation/cabin/second property loans, lot loans, retirement and wealth management service and business accounts and loans. For complete information, please visit blazecu.com.
• Market leading rates. Blaze offers extremely competitive savings, certificate and loan rates. For current rates, please visit blazecu.com.
Q: What do I need to do right now?
Continue banking with Luminate Bank as usual. Please make sure all your contact information is current. You will receive additional information regarding any account updates or changes or actions needed well in advance.
Q: Will my accounts change?
Your accounts and services will move to comparable Blaze accounts later this year. You will receive specific details well in advance of the transition. For now, continue banking as usual.
Q: What if I want to add or change a current product or service?
Please work with Luminate Bank to add or change any products or services now. After the transition, you will be a Blaze member and can work directly with Blaze for any product or service that Blaze offers.
Q: Will I get a new debit card or checks?
Yes, but not until closer to the transition this fall. Continue to use your Luminate Bank checks and debit card as usual. You will receive specific details as we get closer to the transition date regarding Blaze checks and debit cards.
Q: Will my money be insured?
Yes. Just like your funds are currently insured by the FDIC, credit union funds are insured by the National Credit Union Administration (NCUA) which is administered and backed by the full faith of the United States. Funds are insured up to $250,000 for regular deposits and up to $250,000 for IRAs. To date, no one has lost one single penny of insured funds at a federally insured credit union. Blaze is a federally insured credit union. More details can be found at NCUA.gov.
Q: Will the Luminate Claremont branch remain open?
Yes, the Claremont branch will remain open but will be owned and operated by Blaze Credit Union. Signage will change to Blaze.
Q: What is a Credit Union?
A credit union is a member-owned, not-for-profit financial institution that provides banking services—similar to a bank—but exists to serve its members. There are not shareholders, but instead each member is an owner who vote on a volunteer board of directors. Credit Unions are often described as “people helping people.”
Q: Tell me more about Blaze Credit Union.
Maybe you’ve seen Archie, Blaze’s 1952 Ford pickup driving around or in a commercial over the years!
Blaze Credit Union is a full service financial service provider with Minnesota roots dating back to 1934. Blaze was started by Edgar Archer, who was simply looking for a loan to pay back a debt. He and seven co-workers founded Midland Oil Co-op Credit Union in hopes of helping others find financial freedom. Fast forward 92 years later (including a couple of name changes), Blaze now serves more than 256,000 members and manages over $4.8 billion in assets. With 29 branch locations, Blaze provides trusted guidance and encouragement to help members move forward with confidence—wherever life takes them. Grounded in Midwestern values such as community, integrity, and hard work,
Blaze is committed to offering smart financial products, competitive rates, and exceptional service as it fulfills its mission of bettering lives. Blaze was recognized by Newsweek as one of America’s Best Regional Banks & Credit Unions in 2026 and several years prior and is also a multi-year recipient of Forbes Best-in- State Credit Union designation. Additionally, Blaze is the official credit union of the Minnesota Wild, the Minnesota United Football Club, the Saint Paul Saints, the Saint Cloud Rox, and Ogilvie Raceway.
Q: Will I become a Blaze Credit Union Member?
Yes. Once regulatory approval is received and the transaction is closed and made effective, all current customers of Luminate Bank’s Claremont branch will become members of Blaze. To maintain your membership with Blaze, you must keep a minimum balance of $10.00, called a par value, in your Share Savings account. Blaze will open a Share Savings account for any customer who does not already have one. In addition, Blaze will deposit $10 into the Share Savings account of every new member, including those who already have a savings account, to meet Blaze’s membership requirement. This includes Luminate Bank customers who only have loans through the bank. Additional information will be provided.
Q: Are current Blaze members affected by this acquisition?
No. Blaze members will see no changes, except that they will be able to use the Claremont branch after the sale occurs, on or around October 9, 2026.
Q: Who do I contact for additional information?
Luminate Bank
customerservice@luminate.bank | 952.939.7200
Blaze Credit Union
Blazecu.com
info@blazecu.com | 651.215.3500
We are committed to a smooth transition
We will keep impacted customers updated along the way. We anticipate the acquisition and closing of the Claremont bank branch (specifically and only this location) to happen on or before October 9, 2026, following regulatory approval. Until the transition is completed, deposits will continue to be held by Luminate Bank and insured by the Federal Deposit Insurance Corporation (FDIC), subject to applicable limits. After the transition is completed and your accounts are transferred to Blaze Credit Union, your deposits will be insured by the National Credit Union Administration (NCUA), an independent agency of the U.S. Government, also subject to applicable limits. Additional information and details will follow.
“We are excited about expanding the Blaze way of banking in Claremont and the surrounding area. This opportunity provides more services to you, our members and our communities.”
—Dan Stoltz, Blaze CEO/President
