Union Savings Bank was founded in 1866 by a group of Danbury businessmen including James S. Taylor, the Bank’s first President who was a descendant of Thomas Taylor, patriarch of one of the seven original families that founded Danbury.

In 1849, James S. Taylor purchased the land and building on the site which would become the future location of Union Savings Bank. The 1880 Atlas of Danbury shows Union Savings Bank occupied a wood frame building owned by W. H. Clark, located on the east side of Main Street across from both the Danbury National Bank and its present location.

James Taylor was an attorney and prominent businessman in Danbury, who purchased many parcels of land and buildings, and loaned money to many people. He owned the land at 226 Main Street, and the initial building at that location was a wood frame building that Taylor used as his office for the bank. 

In 1866, Union Savings was incorporated and officered as follows:

• President:  Samuel C. Holley
• Vice President:  Norman Hodge
• Secretary & Treasurer:  L.P. Treadwell
• Trustees:  F.H. Austin, William J. Rider, David G. Penfield, F.A. Hull, C.A. Mallory, John H. Fanton and Joseph T. Bates

Architectural History of 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.

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)

As well as the schedule and milestones completed:

• Monday June 29, 1886 — began digging foundation
• July 27 — started brick walls
• August 31 — wood work
• 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 on Main Street through the central entry to the second floor, and a Men’s Club was located on the third.

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, resulting 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 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 is on the National Register of Historic Places and is considered a historical landmark in the City of Danbury.