Distinguished by its origin, Winsted Savings Bank was founded in 1860 by community leaders, setting it apart from commercial banks with stockholders. In 1875, local business leaders established Mechanics Savings Bank of Winsted (later Northwest Bank for Savings). Both institutions played crucial roles in fostering the development of Winsted, CT, and neighboring towns through savings, loans, and personal relationships with customers.

Addressing evolving needs, the banks joined forces in 1996, culminating in the formation of Northwest Community Bank. This merger enabled the bank to establish a branch network and offer expanded services, continuing its legacy of supporting individuals, families, businesses, and communities.