

Our Trusted Sponsor Bank
Our Trusted Sponsor Bank
Merchants Commercial Bank
Merchants Commercial Bank
At Elevate Pay, we believe in building trust the same way we build products — with security, transparency, and innovation at the core. That’s why we’ve partnered with Merchant Commercial Bank (MCB), a well-established, FDIC-insured U.S. bank with a proven history, strong regulatory oversight, and full access, and support for US payment rails (ACH, FedNow and Wire) required by freelancers and remote workers around the world to receive their salaries and earnings.
At Elevate Pay, we believe in building trust the same way we build products — with security, transparency, and innovation at the core. That’s why we’ve partnered with Merchant Commercial Bank (MCB), a well-established, FDIC-insured U.S. bank with a proven history, strong regulatory oversight, and full access, and support for US payment rails (ACH, FedNow and Wire) required by freelancers and remote workers around the world to receive their salaries and earnings.




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.
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




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
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
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
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
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








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.
USD accounts for international clients.
USD accounts for international clients.
USD accounts for international clients.
USD accounts for international clients.
Fast, reliable cross-border payments.
Fast, reliable cross-border payments.
Fast, reliable cross-border payments.
Fast, reliable cross-border payments.
Compliance and security aligned with US BSA/AML standards
Compliance and security aligned with US BSA/AML standards
Compliance and security aligned with US BSA/AML standards
Compliance and security aligned with US BSA/AML standards




What This Means for You

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


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


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

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

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.


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.


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.

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.

Driving Inclusion
A banking partner committed to supporting innovation and financial inclusion.


Driving Inclusion
A banking partner committed to supporting innovation and financial inclusion.


Driving Inclusion
A banking partner committed to supporting innovation and financial inclusion.

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.


4.5 Stars from 3.48K reviews