Sesquicentennial Pays Tribute to Bank’s Dedication to Innovative Client Service, Passion for Supporting Community, And Rich History of Helping Connecticut Grow
DANBURY, CT (June 6, 2016) – Signifying its 150th year as Connecticut’s preeminent mutual bank, Union Savings Bank has launched a year-long celebration that will pay tribute to its most influential accomplishments as one of the best banks in CT, honoring a rich history of unwavering client support, innovation, and relentless dedication to the Connecticut communities it serves.
Chronicled through special events, community relations programs and social media updates, the bank’s sesquicentennial celebration will offer a unique perspective on the impact it has had on some of the Nutmeg State’s most prominent businesses and individuals.
Union Savings Bank will lead a series of events, including a birthday card contest for students in kindergarten through eighth grade, a summer concert series on the Danbury Green, and the unveiling of a monument dedicated to the region’s hat-making industry, which dates back to the late 18th century.
These programs and festivities will fondly recall Union Savings Bank’s 15 decades as the community bank dedicated to service to Connecticut, culminating with a special celebration in Danbury during the week of June 20, which will mark the 150th anniversary of the bank’s incorporation by the legislature of the State of Connecticut.
A history of Innovation and Client Support
From its humble post-Civil War beginnings, Union Savings Bank has persevered through 150 years, charting consistent growth and expansion while riding the highs of national and statewide prosperity, and the lows of hardships for local banks like the Great Depression and periods of economic uncertainty.
“Through 150 years, Union Savings Bank has been unwavering in our support of the individuals and businesses that have driven Connecticut’s economy and generated jobs for its residents,” explained President and CEO Cynthia C. Merkle. “This support is similarly evident in the extensive, wide-ranging programs we’ve established and implemented to improve the lives of those in the communities we serve.”
Founded on June 20, 1866 by a group of Danbury’s leading citizens, Union Savings Bank’s charter was aimed at protecting the savings of their families and friends. Set up specifically as a mutual bank to benefit the community, the community bank was officially incorporated by Connecticut’s legislature on July 23, 1866. Its first branch, which opened within an existing store on Danbury’s Main Street, welcomed local resident Margaret Pepper as its very first customer, the first of 355 accounts for personal banking services opened that year.
As Union Savings bank grew, expansion led to the commissioning of a new structure, which opened at 226 Main Street in 1887. That Romanesque Victorian-designed facility, which today serves as Union Savings bank’s main office, utilizes an original vault, and houses a stunning signature Tiffany-themed chime clock, added in 1927.
Union Savings Bank’s consistent growth throughout the decades was aided six years ago through a merger with The First National Bank of Litchfield, the oldest nationally chartered bank in the state. The merger resulted in 340 years of collective banking experience as local banks and deep-rooted traditions of helping customers and communities grow and thrive.
Growth has also been evident through expansion, as Union Savings Bank today operates 26 branches in Connecticut, ranging from as far south as Ridgefield, northward to Goshen and Canton. The bank’s passion for community support though expansion of its charitable giving programs has led to $5 million in contributions and upwards of 80,000 volunteered hours to local no-profits over the past five years.
“While so much has changed over the past 150 years, the core values our bank has always held are as evident today as they were back in 1866,” Merkle further explained. “Innovation, dedication to our clients, and giving back to our local communities are the foundations that we’ve lived by in the past, and will lead us in the decades ahead.”
About Union Savings Bank
Established in 1866 and headquartered in Danbury, Conn., Union Savings Bank is a $2.3 billion mutual bank dedicated to being the bank of choice and the best bank for small business. As a full-service financial institution, Union Savings Bank provides banking, mortgage, investment, trust and insurance products in Connecticut, with 26 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, non-profit organizations and government entities through its commercial, business banking, residential and consumer lending, treasury services, branch banking and wealth management divisions.
For more information, please visit unionsavings.com, and connect with the bank on LinkedIn and Facebook.