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News : Business Dec 6, 2019 - 6:47:45 AM

Savings Bank of Danbury Donates $250,000 to the Danbury Museum to Underwrite Phase III of the Charles Ives Home

By Savings Bank of Danbury

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L to R – Paul Valeri, Trustee, Danbury Museum & Historical Society, Brigid Guertin, Executive Director, Danbury Museum & Historical Society, Beth Ann Fetzer, VP Community Development Officer, Martin G. Morgado, President & CEO of Savings Bank of Danbury (contributed photo)
DANBURY, CT - In honor of their 170th anniversary the Savings Bank of Danbury has donated $250,000 to underwrite phase III of the rehabilitation of the Charles Ives Home, an important piece of Danbury and the Bank’s history.

The Charles Ives Home, now owned by Danbury Museum is currently under rehabilitation. The main section of that house dates back to 1780, as the Revolutionary War was ending and it was listed on the National Register of Historic Places in 1976. It was the original home of Savings Bank of Danbury and the Connecticut State Composer, Pulitzer Prize winner Charles Ives.

Many unique, original pieces of Danbury’s history will tell the story of Charles Ives and his family. Clothing, furniture, instruments, household items and art will detail what life was like in the later part of the 1800s and the early 1900s in Danbury. Plans for the Charles Ives Home include welcoming an artist in residence to make the exhibit a living entity. The home will be open to the public upon completion in the late summer/fall of 2020.

The Savings Bank of Danbury is the city’s oldest, continuous running business. The Charles Ives Home was the first office for the bank opening on July 14, 1849. The desk, where the first banking business was conducted is on display for the public to see at the Savings Bank of Danbury main branch at 220 Main Street in Danbury. The desk was owned by George Ives, who served as the first Secretary-Treasurer of the bank, from 1849 to 1860. On its first day, the bank took in eight deposits totaling $15, and in its first year recorded deposits of $12,245.59. Banking was much more informal in those days; historical records of those early days reveal that the Bank was open only on Saturdays from 2 to 5 p.m., and that “it was generally known that, in the absence of Mr. Ives, deposits could be left with his wife at their kitchen door.”

“We are excited to enter phase III of this important historical project in Danbury,” said Brigid Guertin, Executive Director of the Danbury Museum and Historical Society. “We are grateful to the Bank for their generous contribution and their support of our shared history. We look forward to the completion of the project and inviting the community to view the Charles Ives Home.”

“We are fortunate to be a part of the history of this wonderful community,” said Martin Morgado, President and Chief Executive Officer at Savings Bank of Danbury. “This project is a unique opportunity to preserve our shared history and create a historic property that the community can visit with pride.”

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