Blaze Credit Union (Blaze) will purchase the Luminate Bank®—Claremont, Minnesota, branch. The branch is 29 miles west of Blaze’s newly opened Rochester location and 28 miles east of Waseca on U.S. Highway 14. The Claremont location will add access to members and potential members in southeast Minnesota. The transaction includes roughly $25 million in member deposits, 550 customers, and the physical branch location.
Luminate Bank’s Claremont branch customers will become Blaze Credit Union members/owners. Both organizations were founded in Minnesota and share a strong commitment to the communities they serve. This acquisition preserves the in-person experience Claremont bank customers value at this location while expanding access to more locations (30 in total). Customers can expect the same exceptional service they’ve enjoyed while banking with Luminate Bank after the transition to Blaze.
“We are excited about bringing the Blaze way of banking to Claremont and the surrounding area. Our mission is to better lives. This opportunity provides continued local support to Luminate Bank’s Claremont customers, our members, and our communities,” Dan Stoltz, Blaze CEO/President.
The acquisition/transfer of the Claremont location is expected to occur on or before October 9, 2026, following regulatory approval. Until approval and transfer, Luminate Bank Claremont branch customers will continue banking as usual. Once the transition is complete, the Claremont branch will remain fully operational and ready to serve the community as Blaze. The transition is limited to Luminate Bank’s Claremont branch location. It does not impact Luminate Bank’s Minneapolis location or the company’s national digital presence, which will continue to operate as normal.
"We remain deeply committed to community banking in the markets we serve and are confident that Blaze Credit Union will provide strong local support and excellent service to our Claremont customers,” states Marc Campbell, CEO of Luminate Bank.
Blaze Credit Union is a member-owned, not-for-profit financial institution serving Minnesota. Founded in 1934, Blaze provides banking solutions, loans, mortgages, and financial guidance to over 255,000 members.
At Blaze, our purpose is simple: to Better Lives. That purpose is rooted in the values that have guided us since our beginning — integrity, compassion, community, and an unwavering commitment to our members.
As a credit union, we exist to serve our members — not shareholders. Blaze offers competitive rates, personalized service, and community-focused financial solutions. We make decisions with your best interest in mind. Your success is our success.
Whether you’re buying your first home, building savings, planning for retirement, or anything in between, Blaze Credit Union is more than just a financial institution — we’re your partner in life.
As a not-for-profit credit union, we are member-owned and have a volunteer Board of Directors, so our focus is on bettering our members' lives. The profits we make are returned to members in the form of reduced fees, higher savings rates, and lower loan rates.
We offer financial guidance to our members and the community so that Minnesotans can blaze their own financial trail.
In the 1930s, as the Great Depression was at its height, a small group of employees from the Minnesota Highway Department got together to support each other’s financial goals, conducting business out of a small metal cash box. This cooperative became Hiway Credit Union.
Across the Mississippi River in Minneapolis, Edgar Archer, an employee of Midland Cooperative Oil Association, sought a loan to pay his debts. After being repeatedly turned down, he talked to six of his coworkers and decided, Why not start a credit union? Twin City Co-ops Credit Union was born and later became SPIRE Credit Union in 2008.
As both credit unions continued to grow and thrive, they joined forces in 2024 to become Blaze Credit Union. Today, Blaze boasts 29 branch locations, over 255,000 members, and is Minnesota's third-largest credit union. Blaze has assets over $4 Billion, making it the third largest Minnesota credit union. Blaze offers checking and savings accounts, loans, mortgages, credit cards, business accounts and commercial lending, and financial planning services. You have access to 125,000+ free ATMs with a Blaze Visa Debit card and only $2.50 out-of-network fee. All deposit product aggregate balances, with the same owners, are insured up to $250,000.
