Merchants Commercial Bank (MCB), in collaboration with the Community Foundation of the Virgin Islands (CFVI), has established the Alda Monsanto Scholarship, an annual award honoring Monsanto, a founding member and long-serving board member of MCB.
The scholarship will provide financial assistance to a student pursuing a degree in finance, economics or a related field at an accredited institution. It will support students who are passionate about finance while fostering future leaders who share Monsanto’s vision, commitment, and dedication to the financial industry and the community, according to the press release.
“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 MCB. “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.”
The inaugural recipient will receive a monetary award, along with opportunities for mentorship and networking within the financial sector. The scholarship is designed to help students achieve academic success while preparing them for impactful careers in finance, the press release stated.
The Alda Monsanto Scholarship will be managed and administered through CFVI, where Monsanto served as an emeritus director. CFVI, in coordination with MCB, will oversee the application, selection and award distribution processes to ensure support for deserving students pursuing higher education, the release stated.
Eligibility Criteria:
- Maintain a minimum 3.0 GPA on a 4.0 scale.
- Be enrolled or planning to enroll full-time in an accredited college or university with a focus on finance, economics or a related discipline.
- Demonstrate financial need.
- Exhibit academic excellence, leadership qualities and a commitment to advancing the financial industry.
- Reside in the U.S. Virgin Islands for at least four years.
The scholarship is part of MCB’s broader mission to honor its founding members’ legacy while supporting initiatives that uplift the community and create opportunities for future leaders, the release stated.
About Alda Monsanto
Alda Monsanto was a visionary leader, advocate for progress and champion of the U.S. Virgin Islands. She played an integral role in founding MCB and was deeply committed to financial empowerment and equitable opportunities. Her legacy continues to inspire both the bank and the community it serves.
