History

Martha's Vineyard Bank

The last mutual savings bank to be established in Massachusetts, chartered in 1955 as Martha’s Vineyard Savings Bank, we trace our financial roots back to May 14, 1909, when a group of people dedicated to the Island introduced co-operative banking to Martha’s Vineyard.

As reported by the Vineyard Gazette:
Mr. Boardman, in speaking on behalf of the petition, stated that there was at the present time no savings bank on the island of Martha’s Vineyard, and no bank of the nature of the proposed one. There were two national banks there, but the residents, he said, had experienced difficulty in many instances in procuring loans on real estate, and the nearest place to do business was New Bedford. Some loans, he said, had been taken by the banks at the city, but it was inconvenient and unnecessarily expensive. Mr. Boardman laid emphasis on the thrift of the people of the Vineyard and the necessity of some bank of this nature where they could put their savings. At Tisbury, Mr. Boardman said, there were but two people so poor that they were dependent upon the town for support.

The Bank expanded steadily throughout the 1900’s, opening locations in Vineyard Haven, Edgartown, and North Tisbury. On November 1, 2007, Dukes County Savings Bank and The Martha’s Vineyard Co-operative Bank combined to become Martha’s Vineyard Savings Bank, with headquarters in Edgartown.

Late in 2009, the Bank opened a branch office in Woods Hole, Massachusetts to bring back local banking to that area and expand services to people traveling to and from the Vineyard.

In 2017, James M. Anthony assumed the role of president and chief executive officer of Martha’s Vineyard Savings Bank. Two years later, celebrating its 100th anniversary, Martha’s Vineyard Savings Bank changed its name to Martha’s Vineyard Bank. At the same time, the Bank created the Martha’s Vineyard Bank Charitable Foundation, dedicated to supporting the Island’s long-term economic vibrancy and social vitality.

Today, the Bank serves customers from 10 branch locations and a trust and investment office, with attractive deposit and lending programs and the ability to bank at any time, day or night.

Our founders knew that successful banking depended on offering convenient locations, competitive solutions, and neighborly customer service – taking nothing for granted. This same philosophy continues today!