Alda Monsanto, a founding member and long-serving board member of MCB. Photo Credit: MCB
Merchants Commercial Bank (MCB), in partnership with the Community Foundation of the Virgin Islands (CFVI), has announced the creation of the Alda Monsanto Scholarship, an annual award designed to honor the legacy of Alda Monsanto, a founding member and long-serving board member of the bank.
This newly established scholarship will provide financial assistance to a student pursuing a degree in finance, economics, or a related field at an accredited institution, the bank said. Through this initiative, MCB continues its commitment to investing in the community by fostering the next generation of financial professionals.
“Alda Monsanto was a trailblazer, not only in shaping MCB but also in demonstrating the power of community-focused financial leadership,” said James Crites, CEO of Merchants Commercial Bank. “This scholarship is our way of honoring her extraordinary contributions, inspiring others to follow in her footsteps, and preparing the next generation for leadership in the financial industry.”
According to the release, the first recipient of the Alda Monsanto Scholarship will receive financial support, mentorship, and networking opportunities within the financial sector. The award is intended to support students in achieving academic success while equipping them with the necessary tools to build impactful careers in finance.
CFVI, an organization where Mrs. Monsanto served as an Emeritus Director, will oversee the scholarship’s application, selection, and award distribution processes in collaboration with MCB. This partnership ensures that deserving students who demonstrate financial need and a passion for the financial industry receive the necessary support.
To be considered for the Alda Monsanto Scholarship, applicants must meet the following requirements:
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Maintain a minimum GPA of 3.0 or higher on a 4.0 scale.
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Be enrolled or planning to enroll full-time in an accredited college or university with a focus on finance, economics, or a related discipline.
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Demonstrate financial need.
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Exhibit academic excellence, leadership qualities, and a commitment to advancing the financial industry.
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Have resided in the U.S. Virgin Islands for at least four years.
A Lasting Commitment to Education and Community
The scholarship is part of MCB’s broader mission to honor the legacy of its founding members while supporting initiatives that uplift the community and create opportunities for future leaders.
Alda Monsanto was a visionary leader, an advocate for progress, and a true champion of the U.S. Virgin Islands. She played an integral role in the founding of Merchants Commercial Bank, dedicating her career to financial empowerment and equitable opportunities. Her influence continues to resonate within both the bank and the community it serves.
Merchants Commercial Bank is a leading financial institution in the U.S. Virgin Islands, providing a wide range of banking services to businesses, organizations, and individuals.
For more information about the scholarship, visit www.merchantscommercial.bank or contact Merchants Commercial Bank at (340) 779-2265.
