Why I Emerged from Retirement to Join Luminate Bank

It's been a year since I joined Luminate as an early executive. It was my first time joining a community bank after more than 30 years as a banker.

My career required weekly travel and time away from family and my passions. When all travel stopped during the COVID-19 pandemic, I realized life was better being home more, so I took a two-year break from the workforce.

A combination of things led me to emerge from semi-retirement last year, but a few elements stand out. Throughout my career, I’ve been a builder and have always harbored an entrepreneurial spirit. Luminate allowed me to exercise my entrepreneurial creativity again.

I was also wildly impressed with the executive team at Luminate. I believe that if you surround yourself with great people you will rise to their level.

And, lastly, I was especially drawn to the opportunity to work within a community bank. My involvement with the City of Lakes Community Land Trust reaffirmed my passion for working hard to improve our community from the inside out.

So, what have I learned since joining the Luminate executive team a year ago, and has the experience met my expectations?

I've joined a team of entrepreneurs who believe banking can be simpler. 

It's not that we’re doing anything grandiose. Instead, we focus on innovating the small tasks—those 10 to 15-minute activities that can add up quickly. If we can eliminate keystrokes and save you minutes on the hour, we’ll find a way to make it happen.

I’ll give you a few examples:

1. Mobile Deposit—deposit a check on your phone rather than having to come into a branch
2. Approve your company’s transactions during a meeting because, once again, you can do it on your phone
3. Use DocuSign to open an account—from anywhere, even your phone

In the past year, I’ve seen customers get just as excited as we are about simplifying their banking experience. Wherever you go and whatever problem you’re trying to solve, you’ll find restraints on practically everything. People always seem to have a reason for why a business can’t do something.

It’s not like that at Luminate. Our team is always thinking: Is that scalable? Can we make it work across the country?

It ties back to working with a team of entrepreneurs who know there’s always a simpler way.

I’ve joined a tight-knit community that understands banking can be accessible. 

Online banking is almost irreplaceable—except when it’s not. It may be rare, but when you want to pick up the phone and call someone, it makes a difference to have someone to call!

At a larger bank, you’re going to be sent to a call center, but that doesn’t happen at Luminate. We make sure that you can and will always have access to a banker.

If you call my team for your commercial depository needs, you’re going to talk to Kari Glynn, Lindsay Fisher or Nick Purohit.

Or, if you need to talk with someone about your personal banking, you’ll call Gretchen Holmgren, or a member of her team. And guess what? They’ll all still be available tomorrow.

Over time, you’ll naturally build these relationships, and they’ll be the ones you want to come back to again and again.

I've joined a team of doers that work hard to make banking products better. 

When Silicon Valley Bank failed in March 2023, it created a nationwide struggle for community banks as we saw a significant number of deposits migrate toward larger banks.

Because of the national narrative around smaller banks at that time, we knew we had to do something to entice people to stay.

Everyone on our team, including the CEO and co-chairmen of the board, offered to meet with our customers, to better understand what would make customers more satisfied with their banking experience.

We brought our competition up a notch with scalable tools to simplify our customers’ lives. One standout product mix includes the unique combination of an interest-bearing checking account and high-yield savings accounts with a great suite of tools to support your needs, a combination that other banks simply aren’t offering.

Needless to say, my experience at Luminate has far exceeded the expectations I held in January 2023.

Now, a year later, I’m remarkably proud of who we are and what we offer. I’ve got an exceptional team with Kari, Lindsay and Nick who each bring unique insights and shared enthusiasm to the table.

And my colleague, Gretchen, has an amazing breadth of knowledge, and I learn something from her and her team every day.

It’s unique to be in a place that’s absent of hidden agendas and where everyone shares the same priorities. If you’d like to be involved, I’d love for you to join us.

Reach out in the comments or send me a direct message and let’s chat more.