Banks on Martha’s Vineyard

Besides the presence of Sovereign on the Vineyard, our banking system is very small and homegrown. It matches the island.You have the feeling that your money stays on the island, right here next to you as you eat and sleep. We don’t have BankNorth or Bank of America, we have the Martha’s Vineyard Savings Bank, Edgartown National Bank and Bank of Martha’s Vineyard (a Division of Sovereign Bank).

But, then the unthinkable. Apparently, fraud approached some Vineyard banking customers by making fake calls to islanders asking for specific information that would give them access to their accounts. Of all the slimey things.

There is heart in this story, though. The bank jumped into action, alerting its customers, and the community did so as well. The Martha’s Vineyard Chamber of Commerce sent a mass email to it’s members alerting them to the issue and providing instructions on what to do. Other agencies are following. But they can hardly catch up with the word of mouth warnings and camaraderie. In a small town, we all watch out for each other.