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We love being a local community bank.

Union Savings Bank has been serving the local area since 1866. And since its inception, our mission has been to work for the benefit of the community rather than for the benefit of shareholders.

Over this time, we’ve watched our community grow around us, and we take pride in having been a part of it. When you plant roots deep into a community, invest in its future and grow along with it – the dedication holds a special meaning for all involved. We’ve nurtured this feeling within our employees and spread it to our customers year in and year out.

As a Connecticut community bank, we live here, work here, and play here. This is our home, and we give back every chance we get, in any way we can.

And in helping to build a better community, we have found it’s helped us to build a better bank; dedicated in purpose and focused in efforts to deliver better products and services for our customers – all while re-investing into the community with grants and service.

In the past six years alone, Union Savings Bank and the USB Foundation together contributed nearly $6,000,000 back into our communities, and employees have volunteered thousands of hours to local non-profits.


Dedicated to our community from the very beginning.

Union Savings Bank has been serving the local area since 1866. And since its inception, our mission has been to work for the benefit of the community rather than for the benefit of shareholders.


Union Savings Bank was founded in 1866 by a group of Danbury’s leading citizens including James S. Taylor, the Bank’s first President. James was a descendant of Thomas Taylor, patriarch of one of the eight original families that founded Danbury. It was their purpose to organize an institution for the encouragement of thrift and the safeguarding of the savings of their friends and neighbors.

JUNE 20, 1866

On June 20, 1866 the Legislature of the State of Connecticut authorized the incorporation of the Bank, which the founders decided should be a mutual savings institution known as the Union Savings Bank of Danbury. The Civil War had recently ended and the name, no doubt, was suggested by the preservation of the union of these United States. And, in fact, time has proven that in Union there is strength. But the word “mutual” is also vitally important in describing the kind of bank our savings bank is. The word “mutual” means we have no stockholders and that Union Savings Bank belongs to its depositors – who share in its net earnings. Another aspect of mutuality is the inherent quality of trust built into our mission.

JULY 23, 1866

Three weeks after the signing of the incorporation papers, the Corporators of the Bank met to establish the Bank officially. It was decided that the Bank should open on July 23, 1866. The bank was first located in trustee Samuel Stebbins’ store on Main Street in Danbury.

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MARCH 29, 1887

As the Bank grew, so did the necessity for more space. Well-respected architects Berg & Clark of New York City won a competition to design a new facility at 226 Main Street and it was built in 1886. On Tuesday, March 29, 1887 Union Savings Bank moved into the “United Banks Building.”

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1925 – 1927

The impressive 3-story, terracotta brick structure, designed in the Romanesque Victorian style, was originally co-owned and occupied by Union Savings Bank and the National Pahquioque Bank. In 1925, Union Savings Bank expanded and now became the only bank in the building, occupying the entire first floor. The signature Tiffany-style McClintock chime clock was added in 1927. The upstairs once housed the high-school, a 500-seat ballroom, and the YMCA.


Since 1983, the building has been listed on the National Register of Historic Places as part of the Main Street Historic District of Danbury. It still houses our Main Office, and is completely occupied by Union Savings Bank.

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In August 2018, Union Savings Bank began the process of reorganizing from a mutual savings bank to a mutual holding company with the goals of making USB stronger, preserving its mutuality and positioning the bank for future growth. In January 2019, after receiving a majority vote from our depositors and regulatory approvals, the reorganization was completed.

Over the years, Union Savings Bank grew steadily throughout western Connecticut. And in 2010, a merger with The First National Bank of Litchfield (FNBL), the oldest nationally chartered bank in the state of Connecticut, expanded the Union Savings Bank branch offices. FNBL was created at the birth of our country in 1814, with Benjamin Tallmadge, George Washington’s spymaster during the Revolutionary War, serving as one of the founding fathers. It remained a driving force behind Litchfield County’s growth for 196 years.

The merger was finalized on April 7, 2010. Together, the resulting bank boasts over 340 years of collective banking experience and deep-rooted traditions of helping customers and communities grow and thrive. This transaction is a natural progression which will offer Union Savings Bank customers access to enhanced financial services within a broader geography, while preserving the legacy of community banking in western Connecticut.

The steady growth and stability of the Bank is a tribute to the foresight of the men who founded it. The successful management of Union Savings Bank over the last 150 years, during times of achievement and prosperity as well as depression and disaster, can be credited to all of the Officers who have served since 1866, and to the public-spirited, civic-minded citizens who have served as Trustees and Corporators.

It is because of this strong leadership and commitment by our employees that over the last six years the Bank and the USB Foundation have contributed more than $6 million back into our communities and volunteered thousands of hours to local non-profits. Our unwavering dedication to serve our customers with progressive banking products while making decisions that reflect our knowledge and passion for our local communities differentiate Union Savings Bank.

Our record of safety, together with a reputation for progressive outlook and excellent service to customers make Union Savings Bank the bank of choice in western Connecticut. But Union Savings is a more than a bank. It is a forward-thinking institution of trustworthy, dependable advisors unified by our tradition of helping customers and communities grow and prosper financially; now and for generations to come.


The Union Savings Bank building.

The original Union Savings Bank building was a wood-frame building located at 226 Main Street, Danbury. On a map of Danbury in 1855, the present location of 226 Main Street was occupied by a bank building.

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In 1855, the architectural firm of Palliser and Palliser of New York City proposed a two-story building with two banks on the 1st floor, offices on the 2nd floor, and a pitch roof to be used as an attic. The proposal was abandoned.

The firm of Berg & Clark from New York City were the architects of the present building erected on June 29, 1886, a building jointly owned by Union Savings Bank and the National Pahquioque Bank. Meticulously kept records show the contractors who erected the building as follows:

  • Contractor – P.E. Reed of Hartford
  • Painting – James Crawford of New York City
  • Tin roofing – L.D. Manchester of Danbury
  • Steam heating apparatus and all plumbing – J. M. Ives Company
  • Vault – Hall Safe & Lock Company of Cincinnati (original vault still in use)

Those records also documented the schedule and milestones completed:

  • Monday June 29, 1886 – Began digging foundation
  • July 27 – Started brick walls
  • August 31 – Woodwork begins
  • November 24 – Roof and all outside work completed

On Tuesday, March 29, 1887, after the first floor was completed, Union Savings Bank moved into the “United Banks Building” located at 226 Main Street, Danbury. The new building was a three-story brick building (52 x 75 feet) in the Romanesque Victorian style. As reported in the Danbury News Times on February 2, 1887, “One of the latest built and perhaps the most prominent edifice on Main Street is the new bank building occupying the lot adjoining the First Congregational Church to the north.”

Initially the building was co-owned by Union Savings Bank and the National Pahquioque Bank, with Union Savings Bank using half of the first floor via the south corner as entry, and National Pahquioque Bank using the other half with the north corner as entry. Ten independent offices were accessible from Main Street through the central entry to the second floor, and a Men’s Club was located on the third floor.

The Bank building has been renovated three times, with meticulous care taken to preserve and maintain the original architectural details.

In 1925, Union Savings Bank expanded and was now the only bank in the building, occupying the entire first floor. The expansion resulted in revisions to the staircase that accessed upper floors and was relocated to the north entry, and the main entry was relocated to the center of the building. The south entry was replaced by a window. Also added was the prominent Tiffany-style McClintock chime clock, located outside the main entry on Main Street.

In 1970, as a result of a bomb attack and robbery, the vault and area around it needed repair. A one-story addition was built at the back of the building that included a separate entry, the ceiling was lowered with acoustic tiles and fluorescent lights, and a drive-up window was added.

In 2003, renovations included raising the ceiling to maximum height, replacement of the original mechanical systems and replacement of the teller counter (keeping the style of 1925). During this renovation, pieces of frieze and molding from the original lobby were discovered and protected with Christo wrap. The building has been listed on the National Register of Historic Places as part of the Main Street Historic District of Danbury and is considered a historical landmark in the City of Danbury.


This is the kind of experience you should expect in bank management.

The Union Savings Bank Executive Team represents over 150 years of experience in banking and finance. From our President & CEO, Cynthia Merkle, to our CFO Paul Bruce, EVP of Wealth Management and Branches Rick Judd, our Chief Lending Officer Peter Maher, and everyone at the bank, we are dedicated to providing excellent service and financial solutions to our customers and to our community – which are often one in the same.

cindy merkle cba - Who we are
Cynthia C. Merkle
President & CEO

Cindy has over forty years of experience in the banking industry, starting her career at Old Stone Bank and serving in leadership positions at a number of prominent banks including as Executive Vice President at Eastern Bank, the largest independent and mutually-owned bank in New England. She joined Union Savings Bank in 2013 as Executive Vice President and Chief Operating Officer, was promoted to President and Chief Operating Officer in 2014, and in 2015 was elected as the first woman in the Banks history to be President and Chief Executive Officer.

Cindy is past Chair of the Connecticut Bankers Association, making history as the first female to serve in this role. She continues her service as a voice for community banks in Connecticut as an officer of the CBA Board of Directors and member of the American Bankers Association Government Relations Council. Currently Cindy also serves as Chair of the Board of Directors for the Greater Danbury Chamber of Commerce and sits on the CEO Strategic Planning Advisory Council for FIS, a leading core processor. Cindy was inducted into the Junior Achievement of Greater Fairfield Countys Hall of Fame for her contributions towards programs that teach and enrich the youth with real-life planning and goal setting. She is a recipient of the New England Women in Banking Women of Fire Award, the Connecticut Yankee Council Good Scout Award and the Hartford Business Journal 2020 Women in Business Award, which recognizes women who are making a significant difference within their organizations and the community. Additionally, Cindy received the 2021 Outstanding Alumni Award from Endicott College, where she has served as a past chair of their board, exemplifying her achievement, integrity, character, and contributions to both the college and her profession. She also proudly served as the past Chair of the United Way of Western Connecticut.

Cindy’s unwavering passion to give back to the community is evident in everything she does. As President of the Bank’s charitable Foundation she was instrumental in creating the Union Savings Bank Teachers’ Closet whose mission is to provide free school supplies to teachers in communities where students and their families experience extreme financial challenges. Today, over 13,000 items have been distributed to more than 100 teachers in our local community.

Cindy holds a bachelors degree in management from Bryant University, and an associate of science degree from Endicott College.

Paul Bruce Bio - Who we are
Paul Bruce
Executive Vice President, Chief Financial Officer and Treasurer

Paul oversees Finance and Treasury activities, directs the management of assets and liabilities, and maintains the investment securities portfolio at USB. He also oversees Bank Operations and General Services.

Previously, Paul served as Chief Financial Officer of Legacy Bancorp, Inc. in Pittsfield, Mass., where he directed the bank’s treasury and investment programs, the company’s Asset & Liability Management function and served as the bank’s investor relations officer. Earlier in his career, Bruce served as a tax senior assistant at Deloitte & Touche in Hartford, Conn., and a tax manager at Ernst & Young in Providence, R.I.

He is a member of the American Institute of Certified Public Accountants, Massachusetts Society of Certified Public Accountants, Institute of Certified Management Accountants Springfield, Mass. chapter and the Institute of Internal Auditors. He currently serves as a board member of the United Way of Western Connecticut as well as a member of the Deans Executive Advisory Council for the Ancel School of Business at Western Connecticut State University.

He received a bachelor of business administration degree in accounting from the University of Notre Dame in Notre Dame, Ind., a master of science degree in taxation from Bryant University in Smithfield, R.I., and a master in business administration degree in finance from Western New England University in Springfield, Mass.

Frederick Judd Bio - Who we are
Frederick “Rick” F. Judd, III, CFP®
Executive Vice President, Wealth Management, Branch Banking and Treasury Services

Rick brings over 20 years of experience to his role at Union Savings Bank and is responsible for all consumer business lines which include Branch Banking, Mortgage,  Treasury Services, and Wealth Management. He joined Union Savings Bank in 2006 as the Head of Wealth Management. Prior to joining Union Savings Bank, Rick was a Senior Vice President and Regional Manager with Webster Financial Advisors in Waterbury where he obtained his CERTIFIED FINANCIAL PLANNER™ designation. Rick resides in Litchfield, CT with his family and is very active in the community.  He is on the Board of the Connecticut Junior Republic which provides services to children and their families throughout Connecticut. He is also on the Board of Camp Boyd that serves Boy Scouts in the Litchfield area. Rick obtained his Bachelor of Business Administration degree from Saint Michael’s College.

Peter Maher Bio - Who we are
Peter Maher
Executive Vice President, Chief Lending Officer

Throughout his 45 year career in banking, Peter has done it all – serving several local banks moving from teller to bank operations to branch manager to commercial lender and on the position he’s held at Union Savings Bank since 2010: Chief Lending Officer. It’s safe to say Peter knows what it’s like to work hard, having earned his degree in Finance after hours through WCSU – while working his way up through the ranks. In addition to rising to Executive Vice President and Chief Lending Officer, Peter serves the community as a member of the Danbury Lion’s Club, the Finance Board of the Danbury PAL, and the Housatonic Industrial Development Corporation.


Local community members and business leaders who share our commitment to the western Connecticut locale.

Lucie H. Voves
CEO, Church Hill Classics
Arnold E. Finaldi, Jr.
Senior Vice President, Rose & Kiernan, Inc.
Ray P. Boa
Owner, A & J Construction Company
John A. Brighenti
Vice President & Owner, Avon Plumbing & Heating Co., Inc.
Susan Certoma
Strategic Advisor/Board Director, Point2Point
David S. Hawley
President, Hawley Management
Bonnie Kintzer
President & CEO, Trusted Media Brands
Jeff Levine
Owner, Levine Automotive
Cynthia C. Merkle
President & CEO, Union Savings Bank
John M. Murphy, MD
President & CEO, Nuvance Health
Frank A. Rowella, Jr.
CPA, Managing Partner, Reynolds & Rowella, LLP
H. Ray Underwood
Secretary & Treasurer, Underwood Services, Inc.


Michael Ackerman
Owner, The Pantry, Inc.
Michael J. Allen
President, Danbury Square Box Company
Cheryl A. Bakewell
CPA-Partner, Bakewell & Mulhare LLC
James J. Blansfield
President, Blansfield Builders, Inc.
Robert D. Botelho
Developer and Property Manager, Victorian Associates/RDB Construction Co.
Nancy L. Brault
President & Co-Founder, The Ultimate Companies, Inc.
Rebecca Butler
Founder/Executive Director, Arts Escape, Inc.
Emile Buzaid
Retired Owner, Max Gun and Pawn LLC
Maureen Casey Gernert
Retired Director, Career Development Center, WCSU
Anthony W. Cirone, Jr.
CPA-Partner, Cirone Friedberg LLP
David M. Coelho
Electrical Instructor, IMTI - Industrial Management & Training Institute
Heather DaSilva
Managing Principal, Cleary Benefits Group, Inc.
Sheila A. Denton
Senior Vice President, Corporate Secretary/General Counsel, Boehringer Ingelheim
Charles R. Ebersol, Jr., Esq
Partner, Ebersol & McCormick LLC
Mourad Fahmi
CEO/Principal Owner, Miller-Stephenson Chemical Corp.
Philip M. Farmer
President, Credit Resources, Inc.
Thomas T. Fitzsimons
Board Member, Channel Sources
Ann. L. Fowler-Cruz, Esq
Principal, Cohen & Wolf PC
Martin Handshy
President, Charter Group Partners
Kathleen A. Harrison
Co-Owner, Fazzone & Harrison Realty LLC
H.Thomas Hinman
Owner/Manager, Riverside Nursery & Garden LLC
Margaret Jakubowski
Partner/Member, Robert Hensley & Associates LLC
M. Jeffers Ryer
President, Ryer Associates
Matthew Karpas
Managing Member, Karpas Strategies LLC
Michael R. Kaufman, Esq
Attorney, Jones, Damia, Kaufman, Borofsky & DePaul LLC
Jeffrey B. Kilberg
Vice President, Nicholas/Tobin Insurance, Inc.
Frederick A. Landwehr
CPA/Financial Advisor, Landwehr & Spaho CPA's
Scott Lavelle
Real Estate Broker/Owner, Remax Experience
Mark A. Malkin
Owner, Malkin & Daigle LLC
Alyson R. Marcucio, Esq
Attorney/Member, Chipman, Mazzucco, Emerson LLC
Martin Marola
President, Marola Motor Sales, Inc.
Wanda McGarry
Vice President, Kovacs Constructions Corporation
Stanley J. McKenney
Vice President, McKenney Mechanical Contractors, Inc.
Rute Mendes Caetano, Esq
Partner, Ventura Law
Thomas J. Oneglia
Assistant Vice President, O & G Industries, Inc.
Matthew Paul, MD
Eye Surgeon/Ophthalmologist, Danbury Eye Physicians & Surgeons
Larry Pereira, Esq
Attorney, Baker Law Firm
William M. Petroccio, Esq
Attorney, Russo & Rizio, LLC
Zachary S. Rapp
President, Sydney A. Rapp Land Surveying, PC
MaryJean Rebeiro
President & CEO, NY-CONN Corporation
Eugene Reelick
Owner, Hollandia Nursery
Anthony Rizzo, Jr
President & CEO, The Rizzo Companies
Kristin Roberts
Managing Partner, The Roberts Tax Group
Maura Ruby
Senior Manager, Danbury Fair Mall – Macerich Property Management
Thomas S. Santa
Chairman of the Board, Santa Energy Corporation
Lisa Scails
Executive Director, Cultural Alliance of Western CT
Valerie Sedelnick
President & CEO, Washington Supply Company
Gregory L. Steiner
Principal, Berkshire Corporate Park
Michael R. Sturdevant
Lieutenant, Danbury Police Department
Lewis J. Wallace, Jr.
Director, Common Fund
William H. Webb, Jr.
President, Pegasys, Inc.
Joshua A. Weinshank, Esq
Partner, Cramer & Anderson LLP
Ralph Williams III
Principal, Connecticut Business Services LLC
Jordan Young
President, Fairfield Processing
Jack Zazzaro
DMD, Owner, Cosmetic & Family Dentistry

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