Norfolk branch continues a long tradition of friendly, personal service to the town

By Bob Bumcrot

Iron Bank was chartered on August 17, 1847, in Falls Village. Its namesake derived from the often used local currency in the mid-1800s of iron bars. Like many banks at that time, Iron printed its own currency as well. These colorful bills, in denominations of $1, $2, $3, $5, $10 and (later) $20, have been reprinted from the original plates and are on display in the Norfolk branch office.

One of the original directors of Iron Bank, E. Grove Lawrence, was from Norfolk and another, Alexander H. Holley, went on to become Governor of Connecticut in 1857.

“Iron Country” was comprised of Falls Village, Cornwall, Goshen, Kent, Canaan, Salisbury, Sharon and Norfolk. Before the Falls Village bank opened, one had to make a two-day trip to Litchfield for banking transactions.

The Bank expanded to Norfolk in 1966, when it purchased the Norfolk Savings Bank. From its founding in 1860, the Norfolk Savings Bank had occupied the building next to the Royal Arcanum. The current National Iron Bank building was erected in 1967.

Vault security has always been of paramount importance, as evidenced by an attempted burglary of the old Norfolk Savings Bank in 1901. Despite blowing off a number of bolts, the would-be robbers, who apparently were never apprehended, couldn’t breach the vault.

In 1983, the bank moved its headquarters from Falls Village to Salisbury and later closed the Falls Village office. In addition to the main office in Salisbury, there are also three branch offices in Washington Depot, Cornwall Bridge and Norfolk. The Bank currently holds assets of $98 million, $21 million of which are in the Norfolk branch.

Over the years, a number of Norfolkians have worked for the bank. The 1972 booklet “Iron Country,” by Edward D. Fales, Jr., includes a picture of a comely young Sue Dyer. Pictures in Fales’s 1997 “Iron Country Re-Visited” include Sandy Evans (of the Falls Village branch) and Dyer again, with Barbara Tracey and Susan Godding.  As many residents know, Godding was convicted and imprisoned for embezzlement on May 17, 2005.

“In a weird way, we’re better for it,” says Branch Manager, Mickie-Ann Budny of Harwinton. “It refocused us. We recognized some weaknesses and we have corrected them.”

The full-time staff of Norfolk’s branch includes, in addition to Budny: Assistant Branch Manager, Edward Schumann of Lakeville, Sales Associates Diane Fumire of Winsted and Kristin L. Begin of Torrington.  Together, they have a total of 65 years banking experience.

In response to the observation that no staff members live in town, Budny responded that although, “Some people felt their private business wasn’t kept private enough,” there was no deliberate attempt to “clean house.”

The Bank’s commitment to local public service is further evidenced by its loaning the use of the upstairs rooms to the Norfolk Lions Club Ambulance and, in the past, to a book club and the “Happy Hookers” rug makers, among others. “We seriously consider every request for help from the Norfolk community,” said Budny, who has worked in banking her entire career. “This is my favorite job. It’s a pleasure to work with the customers, many of whom have become friends.”

Photo, top, by Bruce Frisch: Current staff members of Norfolk’s National Iron Bank are Diane Fumire, front left, and Mickie-Ann Budney, front right, Kristin Begin, and Edward Schumann.