A History of Banking Excellence

Founded in 2006, MCB offers modern banking with a community-first approach. It has evolved from a local bank to a financial institution for regional clients and global fintech.

2006

MCB receives its banking charter and begins operations in St. Thomas, USVI

2008-2015

Expands its commercial lending, deposit services, and electronic payment capabilities

2016-2020

Invests in advanced compliance systems and connects to U.S. payment rails, including ACH and Fedwire

2025 Onward

Begins strategic partnerships with fintechs like Elevate Pay to offer banking access to international remote workers and businesses

2006

MCB receives its banking charter and begins operations in St. Thomas, USVI

2008-2015

Expands its commercial lending, deposit services, and electronic payment capabilities

2016-2020

Invests in advanced compliance systems and connects to U.S. payment rails, including ACH and Fedwire

2025 Onward

Begins strategic partnerships with fintechs like Elevate Pay to offer banking access to international remote workers and businesses

2006

MCB receives its banking charter and begins operations in St. Thomas, USVI

2008-2015

Expands its commercial lending, deposit services, and electronic payment capabilities

2016-2020

Invests in advanced compliance systems and connects to U.S. payment rails, including ACH and Fedwire

2025 Onward

Begins strategic partnerships with fintechs like Elevate Pay to offer banking access to international remote workers and businesses

2006

MCB receives its banking charter and begins operations in St. Thomas, USVI

2008-2015

Expands its commercial lending, deposit services, and electronic payment capabilities

2016-2020

Invests in advanced compliance systems and connects to U.S. payment rails, including ACH and Fedwire

2025 Onward

Begins strategic partnerships with fintechs like Elevate Pay to offer banking access to international remote workers and businesses

Visa Partner

Supporting the issuance of Visa cards to customers for purchases worldwide

Charter & Oversight

Regulated by theUS Virgin Islands Division of Banking, Insurance & Financial Regulation and the FDIC as a state-chartered, non-member bank.

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Payment Rails

ACH–Reliable U.S. bank-to-bank transfers

ACH–Reliable U.S. bank-to-bank transfers

ACH–Reliable U.S. bank-to-bank transfers

ACH–Reliable U.S. bank-to-bank transfers

Fedwire–High-value, real-time settlements

Fedwire–High-value, real-time settlements

Fedwire–High-value, real-time settlements

Fedwire–High-value, real-time settlements

FedNow (roadmap)–24/7 instant payments

FedNow (roadmap)–24/7 instant payments

FedNow (roadmap)–24/7 instant payments

FedNow (roadmap)–24/7 instant payments

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Leadership

MCB’s leadership team combines deep industry expertise with a commitment to regulatory compliance and innovation

James E. Crites

Chief Executive Officer

Valdamier (“Val”) Collens

President

Anette C. Williams

Vice-President & Chief Financial Officer

Rohit L. Khiani

Vice-President and Chief Credit Officer

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President

Valdamier (“Val”) Collens

Currently serving as President of Merchants Commercial Bank (MCB), Valdamier (“Val”) Collens most recently served as Senior Vice President, U.S. Virgin Islands Region Director, of FirstBank providing leadership, strategic direction, and management of commercial, mortgage and consumer lending and loan portfolios; retail branch operations; and electronic banking operations. He offers more than 30 years of providing leadership and sustainable changes in processes, systems, fiscal management, auditing, compliance monitoring, and information technology in the private and public sectors. In the public sector, Mr. Collens served as the Commissioner of Finance for the Government of the Virgin Islands, Executive Director of the V.I. Public Finance Authority, Chief Financial Officer of the V.I. Port Authority, and Executive Assistant Commissioner of Finance between April 2008 – December 2018. In addition, after the devastating back-to-back Category 5 hurricanes of September 2017, Mr. Collens served as the Governor’s Authorized Representative (GAR) for the U.S. Virgin Islands, which required significant interaction with the Office of the President of the United States, U.S. Congress, Federal Emergency Management Agency (FEMA), Housing and Urban Development (HUD) and U.S. Economic Development Administration (USEDA). Mr. Collens earned his M.B.A. from the Harvard Business School in 1998 and has been a New York State Certified Public Accountant for more than 25 years. Mr. Collens is a native of the Virgin Islands and has resided in St. Thomas for the past 18 years.

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James E. Crites

Chief Executive Officer

Valdamier (“Val”) Collens

President

Anette C. Williams

Vice-President & Chief Financial Officer

Rohit L. Khiani

Vice-President and Chief Credit Officer

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President

Valdamier (“Val”) Collens

Currently serving as President of Merchants Commercial Bank (MCB), Valdamier (“Val”) Collens most recently served as Senior Vice President, U.S. Virgin Islands Region Director, of FirstBank providing leadership, strategic direction, and management of commercial, mortgage and consumer lending and loan portfolios; retail branch operations; and electronic banking operations. He offers more than 30 years of providing leadership and sustainable changes in processes, systems, fiscal management, auditing, compliance monitoring, and information technology in the private and public sectors. In the public sector, Mr. Collens served as the Commissioner of Finance for the Government of the Virgin Islands, Executive Director of the V.I. Public Finance Authority, Chief Financial Officer of the V.I. Port Authority, and Executive Assistant Commissioner of Finance between April 2008 – December 2018. In addition, after the devastating back-to-back Category 5 hurricanes of September 2017, Mr. Collens served as the Governor’s Authorized Representative (GAR) for the U.S. Virgin Islands, which required significant interaction with the Office of the President of the United States, U.S. Congress, Federal Emergency Management Agency (FEMA), Housing and Urban Development (HUD) and U.S. Economic Development Administration (USEDA). Mr. Collens earned his M.B.A. from the Harvard Business School in 1998 and has been a New York State Certified Public Accountant for more than 25 years. Mr. Collens is a native of the Virgin Islands and has resided in St. Thomas for the past 18 years.

Read More

James E. Crites

Chief Executive Officer

Valdamier (“Val”) Collens

President

Anette C. Williams

Vice-President & Chief Financial Officer

Rohit L. Khiani

Vice-President and Chief Credit Officer

Background Blush

President

Valdamier (“Val”) Collens

Currently serving as President of Merchants Commercial Bank (MCB), Valdamier (“Val”) Collens most recently served as Senior Vice President, U.S. Virgin Islands Region Director, of FirstBank providing leadership, strategic direction, and management of commercial, mortgage and consumer lending and loan portfolios; retail branch operations; and electronic banking operations. He offers more than 30 years of providing leadership and sustainable changes in processes, systems, fiscal management, auditing, compliance monitoring, and information technology in the private and public sectors. In the public sector, Mr. Collens served as the Commissioner of Finance for the Government of the Virgin Islands, Executive Director of the V.I. Public Finance Authority, Chief Financial Officer of the V.I. Port Authority, and Executive Assistant Commissioner of Finance between April 2008 – December 2018. In addition, after the devastating back-to-back Category 5 hurricanes of September 2017, Mr. Collens served as the Governor’s Authorized Representative (GAR) for the U.S. Virgin Islands, which required significant interaction with the Office of the President of the United States, U.S. Congress, Federal Emergency Management Agency (FEMA), Housing and Urban Development (HUD) and U.S. Economic Development Administration (USEDA). Mr. Collens earned his M.B.A. from the Harvard Business School in 1998 and has been a New York State Certified Public Accountant for more than 25 years. Mr. Collens is a native of the Virgin Islands and has resided in St. Thomas for the past 18 years.

Read More

James E. Crites

Chief Executive Officer

Valdamier (“Val”) Collens

President

Anette C. Williams

Vice-President & Chief Financial Officer

Rohit L. Khiani

Vice-President and Chief Credit Officer

Background Blush

President

Valdamier (“Val”) Collens

Currently serving as President of Merchants Commercial Bank (MCB), Valdamier (“Val”) Collens most recently served as Senior Vice President, U.S. Virgin Islands Region Director, of FirstBank providing leadership, strategic direction, and management of commercial, mortgage and consumer lending and loan portfolios; retail branch operations; and electronic banking operations. He offers more than 30 years of providing leadership and sustainable changes in processes, systems, fiscal management, auditing, compliance monitoring, and information technology in the private and public sectors. In the public sector, Mr. Collens served as the Commissioner of Finance for the Government of the Virgin Islands, Executive Director of the V.I. Public Finance Authority, Chief Financial Officer of the V.I. Port Authority, and Executive Assistant Commissioner of Finance between April 2008 – December 2018. In addition, after the devastating back-to-back Category 5 hurricanes of September 2017, Mr. Collens served as the Governor’s Authorized Representative (GAR) for the U.S. Virgin Islands, which required significant interaction with the Office of the President of the United States, U.S. Congress, Federal Emergency Management Agency (FEMA), Housing and Urban Development (HUD) and U.S. Economic Development Administration (USEDA). Mr. Collens earned his M.B.A. from the Harvard Business School in 1998 and has been a New York State Certified Public Accountant for more than 25 years. Mr. Collens is a native of the Virgin Islands and has resided in St. Thomas for the past 18 years.

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Powering Elevate Pay’s Global Banking Vision

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Through our partnership, MCB is helping Elevate Pay bring U.S. banking services to remote workers, freelancers, and businesses in international markets — including regions that are often underserved by traditional banks.

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USD accounts for international clients.

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USD accounts for international clients.

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USD accounts for international clients.

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USD accounts for international clients.

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Fast, reliable cross-border payments.

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Fast, reliable cross-border payments.

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Fast, reliable cross-border payments.

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Fast, reliable cross-border payments.

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Compliance and security aligned with US BSA/AML standards

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Compliance and security aligned with US BSA/AML standards

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Compliance and security aligned with US BSA/AML standards

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Compliance and security aligned with US BSA/AML standards

What This Means for You

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Secure Banking

Experience the safety and reliability of a regulated U.S. banking partner.

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Secure Banking

Experience the safety and reliability of a regulated U.S. banking partner.

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Secure Banking

Experience the safety and reliability of a regulated U.S. banking partner.

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Secure Banking

Experience the safety and reliability of a regulated U.S. banking partner.

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US Banking Rails

Access to all the payment rails (ACH, FedNow, Wire) used by all the major US banks, remote work platforms like Deel and freelancing platforms like Upwork.

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US Banking Rails

Access to all the payment rails (ACH, FedNow, Wire) used by all the major US banks, remote work platforms like Deel and freelancing platforms like Upwork.

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US Banking Rails

Access to all the payment rails (ACH, FedNow, Wire) used by all the major US banks, remote work platforms like Deel and freelancing platforms like Upwork.

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US Banking Rails

Access to all the payment rails (ACH, FedNow, Wire) used by all the major US banks, remote work platforms like Deel and freelancing platforms like Upwork.

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Driving Inclusion

A banking partner committed to supporting innovation and financial inclusion.

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Driving Inclusion

A banking partner committed to supporting innovation and financial inclusion.

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Driving Inclusion

A banking partner committed to supporting innovation and financial inclusion.

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Driving Inclusion

A banking partner committed to supporting innovation and financial inclusion.

This is banking you can verify, trust, and grow with.

This is banking you can verify, trust, and grow with.

This is banking you can verify, trust, and grow with.