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Dave Zajac | Record-Journal
A temporary trailer set up for Naugatuck Savings Bank customers as maintenance continues on the interior of the building at the corner of E. Main St. and Research Pkwy. in Meriden, Monday, September 16, 2013. The bank is changing to ION Bank on Oct. 21. | (Dave Zajac / Record-Journal)

New name for Naugatuck Savings Bank

Signs, pamphlets, billboards and brochures are all explaining that “Change is in the Air” for Naugatuck Savings Bank, soon to be Ion Bank.

Naugatuck is not being sold, nor is it being merged with any other bank. It is simply going through a name change, according to Naugatuck Savings president Charles J. Boulier III.

“We’re going to be the same bank, the same savings accounts, same community service,” Boulier said. “We did a lot of research over the past two years and we found the name change would help us with recognition and on the Internet.”

The name change is coming about largely because of the Internet, the simplicity of the name Ion and banking officials desire for the bank to be recognized as unique, to stand out, Boulier said.

The change will formally take place on Oct. 21, but company officials have been working to get the word out for the last few months so customers won’t be surprised.

Naugatuck Savings Bank, founded in 1870, is not to be confused with Naugatuck Valley Savings and Loan. That confusion is another reason for the name change, bank officials said.

Naugatuck Savings is located in 13 different communities throughout Connecticut.

Locally branches are in Meriden, Wallingford and Cheshire, and at some point in the near future, Boulier said, the bank hopes to open one in Southington.

“We’re a dynamic, progressive bank, and we’re growing. What really triggered this going forward was the customer response,” Boulier said. “But, we’re still a community bank. We’ll still be the same bank, with the same customer service, same employees, and the same community focus.”

Andrea Gonzalez, assistant manager of the Meriden West Branch, at 500 W. Main St., said she is looking forward to the name change.

“I’m very excited about it,” she said. “We can expand in the market, but we’re still providing all the customer services we’re known for. Our whole philosophy is about customer service.”

Boulier added that it’s been a lot of work getting the word out and going through the logistics.

Though account numbers and many other features will remain the same for customers, one new innovation is the virtual personal banker.

It’s already available in the Wallingford branch, but it will be expanded to other branches.

The personal banker is a live feed through a video screen that enables customers, after normal banking hours, to interact with a banker.

The bank, with 250 employees, was just recently named by Hearst-Argyle Publishing as one of the best workplaces in New Haven, Fairfield and Litchfield counties.

ebritton@record-journal.com (203) 317-2208 Twitter: @EveBritton



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