In the mid-1960s, A committee was formed to design the Totowa Fire Department monument.  The members of the committee were representatives from each of the fire companies: Frank E. Gloor (Chairman), Michael Panzella, William DeGraff, Claude Kranik, William Dillon, Daniel Augustine, Lawrence Roome, Fred Ehlers, Russel Hartkopf, Robert Dowling (Fire Chief), Council Jack Whitney (Liason from the Mayor and Council). 
 
Early on, it was decided that a bell should be the focal point of the monument.  In the late 1960s, Carmen Ottilio, from Ottillio and Sons Contractors, donated a bell to serve that purpose.  The committee then met with Robert Woods from the Woods Monument Company. The committee and Mr. Woods drew several possible designs over the course of a couple of years.  In early 1972, Mayor Samuel Cherba and the Council members met with the monument committee to select a location for the monument.  It was decided to locate it on the Municipal Building property, close to Totowa Road. Once the area was chosen,  a final decision was made for the design.
 
On February 7, 1972, the monument was ordered. It is constructed of Canadian Pink Granite. It measures 10 feet, 4 inches in length, 6 feet in height, and 4 feet in depth. The top inscription reads, "Borough of Totowa Fire Department." The base inscription reads: "In memory of our Dedicated Firemen".  The monument is dedicated to those firefighters who have answered their last call and gone on to eternal rest, as well as to retired firefighters, those currently serving, and those who will serve in the future.
 
The monument was delivered to the Municipal Building in mid-May 1972, after the Cooperative Concrete Corp. had installed the concrete base for the foundation.  It was dedicated on Monday, May 29, 1972, at 1:00 PM.  The unveiling was done by the senior active members from each Fire Company: Charles Fredrick, Sr. (Volunteer Fire Co.), Frank Gloor, Sr. (Lincoln Fire Co.), Roy Paxton (Riverview Park Fire Co.), and Lawrence Roome (Fire Rescue). 

After the unveiling, Fire Chief Robert Dowling, along with the oldest living exempt firefighters, Sebastian Hubschmitt and Ralph Accadia, placed a wreath at the monument.  The Mayor and Council members,  as well as representatives from the Totowa Police Department and the Totowa First Aid Squad, were also in attendance.  The Totowa Fire Department "Fire Bells" Color Guard also participated in the festivities.

On May 29th, 2022, the Totowa Fire Department celebrated the 50th anniversary of dedicating the monument by adding an additional inscribed stone marking the occasion.