Webster First Appoints Kerri Kane as New CFO After Kim Tonkin Retires

Published June 10, 2024

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• Webster First

Webster First Chief Financial Officer Kim Tonkin is announcing her retirement after more than 40 years of service to the credit union. Current Controller and Vice President of Finance, Kerri Kane, has been promoted to CFO, effective June 3, 2024.

“I am pleased to announce Kerri Kane as Webster First’s next CFO,” said President and CEO John Thomasian. “I have had the pleasure of working closely with Kerri as we grew to $1.5 billion in assets. Kerri’s passion for excellence and her commitment to the highest standards of integrity make her the ideal candidate. I am confident that under her leadership, our finance department will continue to thrive and contribute to our overall success.”

Kerri Kane has been working as the Controller at Webster First since its merger with Saugus Federal Credit Union in May 2011. At the time of the merger, she held the position of Vice President of Accounting and had been with Saugus FCU since April 1998. She earned her Bachelor’s Degree in Accounting and Finance from Salem State University. Kane has played a pivotal role in 7 credit union mergers at Webster First, helping to combine the finances of each acquired institution.

Kane said, “I am so happy for Kim as she enters the next chapter and wish her all the best in her retirement. I look forward to continuing to contribute to the success and growth of Webster First under the leadership of CEO John Thomasian.”

Kim Tonkin began working at Webster First in September 1983 as a part-time loan servicing clerk while she earned her Bachelor’s Degree in Business Administration from Nichols College. She was offered a position in accounting when Webster First was worth just $70 million in assets. She was subsequently promoted to Accounting Supervisor, then Controller, then Vice President of Finance/Controller, and finally CFO in 2014.

“I have enjoyed working here at the credit union for my whole career,” Tonkin said, “and I look forward to seeing Webster First’s continued success as Kerri steps into the role of CFO.”

Tonkin is also a graduate of Massachusetts School for Financial Studies by the Massachusetts Bankers Association and worked closely with former CEO Michael Lussier to lead accounting through 12 mergers. Over the course of her career, the credit union’s asset size grew 20 times larger.

“Kim will truly be missed after nearly 41 years at the credit union,” Thomasian continued. “She has been a pillar of our finance team throughout her career. As bittersweet as it is, I wish her all the best in this next chapter of her life, she has earned it!”