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Latest News

Merchants Commercial Bank welcomes a New President

Merchants Commercial Bank is pleased to welcome Valdamier (Val) Collens as the new President. 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.

We welcome Val to the MCB Family and look forward to his leadership and expertise.

Merchants Commercial Bank launches a new website

Merchants Commercial Bank’s website now sports a new user-friendly look. The new website was completely redesigned to offer clients a more user-friendly portal and provide more information on our products and services. The website can be easily accessed from any desktop, mobile device, smart phone, tablet and/or by downloading our app.

Some of the new features that clients can enjoy include the ability to compare our different deposit product offerings and easy access to our online portal. In addition, customers can also stay updated on the new products and services offered by MCB and informed about tips to prevent financial fraud. The new website is a part of MCB’s commitment to continue providing enhanced banking experiences to our client base.

Merchants Commercial introduces Positive Pay to help combat check fraud

Positive Pay is an automated fraud detection solution offered to your business by Merchants Commercial Bank. Positive Pay uses digital confirmation to determine whether a check should be paid or flagged for non- payment. Positive Pay joins a host of other fraud prevention products offered by Merchants Commercial Bank. Some features offered by Positive Pay include:

  • Automate check reconciliation
  • Easily reconcile your payroll
  • Simplify your accounts payable process
  • Improve audit control
  • Improve accuracy of deposit balancing
  • Reduce reimbursement risk
  • Streamline check storage and retrieval
  • Save your business both time and money

According to BizFilings, “it has been estimated that the loss suffered by US businesses caused by check fraud exceeds $60 billion a year.” Take measures to protect your business from check fraud. To learn more about Positive Pay, please contact Merchants Commercial Bank and speak with one of our customer care representatives at (340) 779-2265 option 1 or 2.