FERNDALE, Mich.– Credit Union ONE has acquired Flint, Mich.-based Icon Mortgage. The $1.75-billion Credit Union ONE said it will retain all employees from Icon Mortgage, including senior leadership, and “intends to operate the company as a separate mortgage lending affiliate.”
“This takes our mortgage lending operations to a new level,” CEO Gary Moody said in a statement. “By bringing in Icon Mortgage, we’ve added an amazingly talented team of proven mortgage professionals and the capacity to deliver a truly exceptional mortgage experience for our members.”
Credit Union ONE noted its market area includes much of northern Michigan and that the acquisition will allow it to accelerate plans to expand mortgage lending into additional areas.
Icon Mortgage has a 20-plus-year history of high performance and adds significant experience and lending capacity to the credit union’s already successful mortgage lending team, the organizations said.
About the Company
Established in 2004, Icon Mortgage is licensed to do business in Michigan, Florida and Texas. According to Modex data, the company, listed as BLG Holdings, has a year-to-date production volume of $57.89 million. In 2024, the company originated $81.53 million.
“After a year of putting this transaction together, I am excited to put all our energy into building on our past successes with Credit Union ONE as a partner,” Icon Mortgage President Woody Holt said in a statement. “They have an amazing history of strong performance and deep roots in the community. This is a transformative moment.”
