CLAREMONT, Minn. – Blaze Credit Union said it has reached an agreement to purchase the Claremont, Minn. branch of Luminate Bank. 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 $4.8-billion Blaze CU said.
According to the credit union, 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. Terms of the deal were not released.
“This acquisition preserves the in-person experience Claremont bank customers value at this location while expanding access to more locations (30 in total),” Blaze CU said in a statement. “Customers can expect the same exceptional service they’ve enjoyed while banking with Luminate Bank after the transition to Blaze.”
‘Mission to Better Lives’
“We are excited about bringing the Blaze way of banking to Claremont and the surrounding area,” Blaze CU President and CEO Dan Stoltz said in a statement. “Our mission is to better lives. This opportunity provides continued local support to Luminate Bank’s Claremont customers, our members, and our communities.”
According to Blaze, the acquisition/transfer of the Claremont location is expected to occur on or before Oct. 9, 2026, following regulatory approval.
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, Blaze added.
‘Deeply Committed’
“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,” Marc Campbell, CEO of Luminate Bank, said in a statement.
Blaze Credit Union has more than 256,000 members.
