Escape the Frustration: Luminate's Recipe for Stress-Free Banking

Luminate Marketing Team • March 7, 2024

Escape the Frustration: Luminate's Recipe for Stress-Free Banking

Do you love your bank? If your banking experience has consistently been subpar or downright dreadful over the past year, it's time to reassess your banking partnership—yes, it is a partnership!—and consider exploring better options.

We believe the right banking partner can significantly impact your financial game for a few reasons. Here’s the difference between a subpar and exceptional banking experience:

Subpar Banking Experience

Engaging with a call center to resolve issues
Poor mobile banking options
Signing paperwork at a physical branch
Unnecessary and excessive fees
Rigid policies that offer no flexibility

Exceptional Banking Experience

Access to seasoned bankers with diverse experiences
Personalized support—for everyone
Digital banking—from anywhere
Competitive pricing
Flexible customization

At Luminate Bank, we work hard to continually do what’s right by our customers. We firmly believe that an exceptional banking partnership should be accessible to everyone.

Here’s the top 3 ways Luminate offers an exceptional banking experience for our customers:

Access to seasoned bankers and personalized support

You can’t train earned wisdom. Many on our small but mighty team come with over 20 years of banking experience—a level of expertise you can’t always find at community banks.

Chances are, whatever goals or challenges you have, our team has navigated a similar situation with another customer, and our seasoned bankers can pull from their toolbox of best practices.

We believe in keeping a personal connection with each customer, making sure that joining us doesn’t mean you’re only dealing with automated processes like a call center.

Consistency with your banking partner is key—the same individuals who chat with you online are the ones you'll find emailing and talking with you on the phone.

You never know when you might need to reach out to your banking partner, but when that time comes, it’s crucial that they are easily accessible.

Best-in-class digital banking solutions

Even with a tenured staff, Luminate is proud to be led by a tech-forward team driving innovation across our organization.

Digital banking is particularly beneficial for busy executives and professionals, who value the efficiency and ingenuity of tech-forward solutions.

By avoiding costs tied to physical branches, we can invest heavily in superior technical solutions compared to our competitors.

This eliminates the necessity for in-person visits, with cash withdrawals being the sole exception.

As a result, we are a part of the MoneyPass network, which offers nationwide surcharge-free ATM access, so you can easily access your money anytime.

Competitive pricing with flexible customization

In the first several months of 2023, our team met with our customers to better understand what would make for an exceptional banking experience.

We know many customers choose the best value, and that’s why we offer a unique product mix that doesn’t exist elsewhere—an interest-bearing checking account with high-yield savings accounts.

Here’s a few facts about our unique combination:

Luminate Brighter Checking

Earn 2.02% APY* interest
No fees or minimum balance
Surcharge-free access to MoneyPass network of ATMs
Flexibility on mobile deposit limits

Luminate Radiant Savings

Earn 5.00% APY** interest
No fees or minimum balance
Surcharge-free access to MoneyPass network of ATMs
Flexibility on mobile deposit limits

We’re also able to offer greater customization than you’d experience at a larger bank. For example, while large banks might make it difficult to change external transfer limits, we collaborate with you to adjust limits when appropriate.

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Bottom line—it’s not uncommon for a bank to create obstacles if you attempt to transition away from their services. That’s why we step in to help you every step of the way.

At Luminate Bank our priority is to help you escape the frustration and experience stress-free banking. If we can simplify your banking so that you can focus on more important things in life, we’ll consider the job well done.

You can open an account at luminate.bank as soon as you’re ready.

Or, if you’d prefer to connect with someone on our team, reach out to Gretchen Holmgren, our Director of Retail Banking, at 952-939-7224 or gretchen.holmgren@luminate.bank.

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*Annual Percentage Yield (APY) for Luminate Brighter Checking on daily balances. No Minimum Balance. APY is accurate as of 9/5/2023. Rates are subject to change. Fees could reduce earnings on the account.

** Radiant Savings 5.00% APY guaranteed through April 30, 2024. Annual Percentage Yield for Luminate Radiant Savings on daily balances. No Minimum Balance. APY is accurate as of 9/5/2023. Rates are subject to change. Fees could reduce earnings on the account. Consumer accounts only. Contact Luminate Bank for current market rates.

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Luminate Bank Welcomes Josh Eifert as CFO

By Luminate Marketing Team • February 4, 2025

Luminate Bank® Welcomes Josh Eifert as Chief Financial Officer, Honoring Legacy of Dave Turk [Minneapolis, Minn.] – [2/4/2025] – Luminate Bank® is proud to announce the appointment of Josh Eifert as its new Chief Financial Officer, succeeding Dave Turk, who has played a pivotal role in shaping the company's strong financial foundation. Josh brings a wealth of experience and strategic vision to Luminate Bank, with 26 years in the banking industry. Most recently, Josh served as CFO at Tradition Capital Bank in Edina, Minnesota, where he led the financial strategy during its remarkable growth from $300 million to more than $2.5 billion in total assets. Before his tenure as CFO, Josh contributed to Tradition Capital Bank in other key financial roles. He began his career with Norwest and Wells Fargo Banks, gaining extensive expertise in financial and operational capacities. Luminate Bank's leadership transition reflects the company's thoughtful succession planning, ensuring its financial strategies remain robust and forward focused. Under the leadership of Dave Turk, Luminate Bank has built an exceptional financial infrastructure, delivering consistent results and creating a foundation that positions the company for continued success. Luminate Bank's CEO, Marc Campbell, shared his confidence in the appointment: "Josh not only brings exceptional financial acumen and strategic insight to Luminate Bank, but he also embodies the principles that define our organization: integrity, innovation, and a steadfast commitment to excellence," Luminate Bank's CEO, Marc Campbell, shared with confidence. "His leadership will ensure our financial strategies succeed and inspire confidence across all who depend on us." "I am honored to join Luminate Bank at such an exciting time. The company's remarkable history of financial excellence and its forward-thinking approach align perfectly with my values and vision," stated Josh Eifert. "I look forward to collaborating with the talented leadership team to build on this strong foundation and drive continued success for our customers, employees, and stakeholders." Josh graduated from the University of Minnesota with a degree in finance and completed the Graduate School of Banking at Colorado. CEO Marc Campbell expressed gratitude for retiring CFO Dave Turk's contributions, saying, "Dave has been instrumental in positioning Luminate as a financial leader. His dedication, insight, and stewardship will always be a part of our company's legacy." Josh Eifert will officially assume his role on February 18, 2025. About Luminate Bank® At Luminate Bank, We Open Doors—empowering individuals and families to achieve their financial dreams through personalized service and innovative digital solutions. As a nationwide bank headquartered in Minneapolis, Minnesota, we are committed to helping our clients meet their financial goals with a blend of modern technology, traditional values, and the trusted guidance of experienced professionals. Known for our exceptional commitment to customers, we take pride in delivering a seamless, supportive experience for every step of the journey. Our dedicated mortgage division has branches and a team of loan originators across the US, making expert home financing solutions accessible to communities nationwide. Luminate Bank is committed to safeguarding your money and accounts with FDIC insurance coverage up to applicable limits. Learn more about how we can open doors for you at www.luminate.bank , follow us on Instagram, LinkedIn, and Facebook, or call (952) 939-7200. For media inquiries, please contact: Debbie Schwake, CMO debbie.schwake@luminate.bank

Big News! We’re Becoming Luminate Bank—Here’s What It Means for You

By webadmin • January 17, 2025

Here at Luminate Home Loans, we’re always looking for ways to offer more value to our clients and partners. That’s why we’re thrilled to announce that we’re now a wholly owned subsidiary of Luminate Bank®—and soon, we’ll officially transition under the Luminate Bank® name.