|Union Savings Bank
1866 – UNION SAVINGS BANK IS FOUNDED
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
img timeline 01 - Who we are
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.
img timeline 03 - Who we are
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
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.
Union Savings Bank and the USB Foundation have contributed more than
$6 million back into our communities and volunteered thousands of
hours to local non-profits.
“Union Savings Bank, serving the local area since 1866”
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
img 04 - Who we are
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
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
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
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.
The mutual savings bank was founded as the Union Savings Bank of
Danbury by a group of Danbury citizens including James S. Taylor,
the bank's first president. The Legislature of the State of
Connecticut authorized the incorporation of the bank on June 20,
bank on June 20, 1866.
Industry: Community bank, Wealth management
Headquarters: Danbury, Connecticut
Area served: Connecticut
Since founded in 1904, Union Savings Bank has been serving the local
community by promoting responsible home ownership through prudent
lending. We are headquartered in Cincinnati, Ohio, where we began,
and currently operate 35 full-service branches and lending offices
in Ohio, Indiana, Kentucky, and Pennsylvania.
Our simple approach of providing the best value to our customers has
driven incredible growth for our organization over the past 30
years. It has also helped us earn the reputation as one of the top
mortgage lenders in Ohio and will allow us to continue to grow in
Indiana, Kentucky, and Pennsylvania.
Our financial institution stands out from larger ones because we
have the freedom to be more flexible and personalized. Unlike large
corporate banks, we get to know our community members and their
personal situations before making decisions about whether a loan is
right for you.
Our employees are highly trained to provide personalized financial
service and will take your unique budget and lifestyle needs into
consideration. You can count on us to make recommendations that will
help you and your family achieve your financial goals.
We value our customer family and look forward to helping you with
your mortgage and personal banking needs.
Want to join Union Savings? Visit our employment page for more
Lizzie Andrew Borden (July 19, 1860 – June 1, 1927) was an
American woman tried and acquitted of the August 4, 1892 axe murders
of her father and stepmother in Fall River, Massachusetts.
No one else was charged in the murders, and despite ostracism from
other residents, Borden spent the remainder of her life in Fall
River. She died of pneumonia at age 66, just days before the death
of her sister, Emma....
Lizzie Andrew Borden[a] was born July 19, 1860, in Fall River,
Massachusetts, to Sarah Anthony (née Morse; 1823–1863) and Andrew
Jackson Borden (1822–1892). Her father, who was of English and
Welsh descent, grew up in very modest surroundings and struggled
financially as a young man, despite being the descendant of wealthy
and influential local residents. He eventually prospered in the
manufacture and sale of furniture and caskets, then became a
successful property developer. He was a director of several textile
mills and owned considerable commercial property; he was also
president of the Union Savings Bank and a director of the Durfee
Safe Deposit and Trust Co. At his death his estate was valued at
$300,000 (equivalent to $9,000,000 in 2019).