Credit Union ONE acquires Icon Mortgage

Credit Union ONE announced on Tuesday that it has acquired Icon Mortgage. A press release confirmed that Michigan-based Credit Union ONE will retain all employees from Icon Mortgage, including senior leadership, and “intends to operate the company as a separate mortgage lending affiliate.”

The terms of the transaction were not disclosed. Credit Union ONE did not immediately respond to HousingWire‘s request for information about how large Icon’s team is. Modex says Icon currently has 41 producing loan officers.

“This acquisition takes our mortgage lending operations to a new level,” said Gary Moody, CEO of Credit Union ONE. “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.”

“We are confident joining forces with Credit Union ONE is the beginning of something incredible. The growth opportunities this brings to our team, and our partner realtors, are remarkable. We will be busier than ever and expect to start hiring across the state to meet anticipated demand,” said Jeremy Hall, CEO of Icon Mortgage.

Credit Union ONE’s market area includes all of Michigan and six counties in northern Ohio. The acquisition will allow the credit union to accelerate plans to expand mortgage lending and support homeownership beyond the current communities it serves.

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.

“Our strategic vision has been alignment of mortgage lending with our size and geographic reach. This acquisition positions us really well to expand market share and accelerate new membership growth. Together, we will deliver best-in-class mortgage solutions while continuing to prioritize the community-focused values that Credit Union ONE has stood for over 85 years,” said Tina Tracy, president and chief operating officer of Credit Union ONE.

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. They have an amazing history of strong performance and deep roots in the community. This is a transformative moment.” said Woody Holt, president of Icon Mortgage.