Luminate Bank-Claremont Acquisition

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.

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.

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.

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.

• Expanded branch and ATM networks. Customers will have access to 29 locations across Minnesota as well as over 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.
• Market leading rates. Blaze offers extremely competitive savings, certificate and loan rates. For current rates, please visit blazecu.com/rates

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.

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.”

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.

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.

If you bank at the Claremont branch, 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.

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.

Yes, the Claremont branch will remain open but will be owned and operated by Blaze Credit Union. Signage will change to Blaze.