Chelen Reyes Named President at Union Savings Bank

Danbury, CONN. (January 31, 2023) – Union Savings Bank, a Danbury, Conn.-based community bank, is pleased to announce that Chelen Reyes will become the Bank’s next President beginning in February.

“As we conducted our search for the next President of Union Savings Bank, Chelen rose to the top, embodying so many of the qualities we believe are necessary to lead this institution well into the future,” said Lucie Voves, USB’s Board Chair.

In his role as USB President, Reyes will be responsible for managing the day-to-day operations of the Bank, ensuring that all operational aspects of the Bank’s activities are carried out in a safe and sound manner, and in the best interest of USB’s stakeholders, customers, team members, and the community.

“We’re excited to welcome Chelen aboard and to see how he’ll help enhance the USB experience for our customers and team members,” added Cynthia Merkle, USB’s current President and CEO, who will maintain the CEO role until her retirement later this year. “His unique background of banking, marketing, and technology gives him a well-rounded perspective on how a community bank can live up to, and even exceed, the expectations of its stakeholders.”

Reyes comes to Union Savings Bank from Hudson Valley Credit Union where he served in a number of executive roles – most recently as HVCU’s Senior Vice President – having responsibilities for retail delivery, marketing and lending. In his two decades in banking, Reyes has held positions in retail banking, lending, wealth management, and marketing with institutions of varying sizes. He has led numerous initiatives focused on strategic growth, new product rollouts, customer relationships, compliance, and training for employees. Prior to beginning his banking career, Reyes worked in the technology sector.

“I’m excited about the opportunity to join Union Savings Bank, and I’m incredibly thankful to the Bank’s leadership for placing their faith in me as their next President,” said Reyes. “Cindy [Merkle] and those who held this position before her have brought incredible success to USB; I hope that I’m able to do the same.”

In addition to his banking responsibilities, Reyes has been heavily involved in community initiatives, having served on the Boards of several non-profits including Women’s Enterprise Development Center, New Horizons Foundation, Girl Scouts of Suffolk County and Skills Unlimited.

Reyes graduated with a degree in Management from De La Salle University in Metro Manila, Philippines, and holds a Master’s in Business Management from the Asian Institute of Management in Makati, Philippines. He currently resides in Poughkeepsie, NY.


About Union Savings Bank

Established in 1866 and headquartered in Danbury, Conn., Union Savings Bank is a $3.0 billion mutual bank dedicated to being the bank of choice. As a full-service financial institution, Union Savings Bank provides banking, mortgage, investment, trust and insurance products throughout western Connecticut with 24 offices in Bethel, Brookfield, Canton, Danbury, Goshen, Kent, Litchfield, Marble Dale, Monroe, New Fairfield, New Milford, Newtown, Ridgefield, Roxbury, Southbury, Torrington and Washington Depot. The Bank provides financial services to individuals, businesses, not-for-profit organizations, and government entities through its commercial, residential and consumer lending, corporate services, retail Banking and wealth management divisions. Please visit for more information. Member FDIC. Equal Housing Lender.

Michele Bonvicini
Union Savings Bank

Advangelists Pixel