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February 13, 2024

(Updated) Norwalk-based credit union buys landmark building in Cheshire for expansion 

Costar 219 S. Main St., Cheshire
By Hanna Snyder Gambini

A historic building in the center of Cheshire, which has been converted to office space, has been sold for just under $1 million.

Sound Federal Credit Union, of Norwalk, bought the building at 219 South Main St., from Stamford-based Sig Real Estate Holdings LLC for $900,000.

The deal was recorded Feb. 1. 

Edward Fox, president and CEO of Sound Federal Credit Union, said the Cheshire building will house a full-service lending subsidiary (FSMG Lending Services) that will provide consumer, real estate and auto lending services, and auto leasing and credit card services. It will also feature a full-service drive through kiosk supported by video tellers.

The credit union, with $128.9 million in assets, has just shy of 10,000 members and branches in Norwalk, Wilton, Westport and Stamford, according to the National Credit Union Administration. It offers membership to all who live, work, or go to school in Fairfield, New Haven, and Litchfield counties, Fox said. 

The credit union has plans to open additional full-service branch locations in Stamford, Cheshire and Milford, Fox said. 

The former bank building, which sits on 1.2 acres, features a vault and drive-thru lanes, and has nearly 4,000 square feet of space converted to professional offices, and 30 parking spaces on-site. It had been occupied by the Sig Insurance Agency.

Robbie Blosio, of William Pitt Sotheby's International, represented Sound Federal Credit Union in the deal. The seller was represented by Toby Brimberg with OR&L Commercial.  

It was originally the Foote Homestead, built around 1770-80 by the Rev. John Foot, a Yale graduate and pastor of the Congregational Church, according to the Landmarks of Old Cheshire book published in 1976.

The building was restored in 1973 by the Connecticut Savings Bank.
 

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