Two of Minnesota’s largest credit unions, Hiway Credit Union and Spire Credit Union, which announced a merger in August, said Friday that the combined entity will be called Blaze Credit Union, and will launch on Jan. 1.

The boards and management teams of both credit unions will be combined. President/CEO of the Falcon Heights-based Spire, Dan Stolz, will become CEO, and CEO of the St. Paul-based Hiway, Dave Boden, will become president. Hiway members approved the merger in September.

The new entity will be based both in St. Paul and Falcon Heights.

Blaze Credit Union will be the fourth largest credit union in Minnesota, with assets of nearly $4 billion, according to a news release, serving about 250,000 members, and employing more than 600 people. All employees will be retained, and all 26 existing branch locations will remain open.

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