We investigate an M-channel critically sampled filter bank for graph signals where each of the M filters is supported on a different subband of the graph Laplacian spectrum. We partition the graph vertices such that the mth set comprises a uniqueness set for signals supported on the mth subband. For analysis, the graph signal is filtered on each subband and downsampled on the corresponding set of vertices. However, the classical synthesis filters are replaced with interpolation operators, circumventing the issue of how to design a downsampling pattern and graph spectral filters to ensure perfect reconstruction for signals that do not reside on bipartite graphs. The resulting transform is critically sampled and graph signals are perfectly reconstructable from their analysis coefficients. We empirically explore the joint vertex-frequency localization of the dictionary atoms and sparsity of the analysis coefficients, as well as the ability of the proposed transform to compress piecewise-smooth graph signals.