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June 5, 2024

Webster First promotes VP to take over for long-time CFO

A woman with long blonde hair wears a black top in front of a grey and beige patterned background. Photo I Courtesy of Webster First Federal Credit Union Kerri Kane, CFO of Worcester-based Webster First Federal Credit Union

Webster First Federal Credit Union has promoted Kerri Kane to CFO of the Worcester-based financial institution.

Kane’s transition comes as the credit union announced its merger with Cambridge Teachers Federal Credit Union on Friday, acquiring its 1,200 members and $26.4 million in assets.

Kane replaces Kim Tonkin, who retired after a more than 40-year tenure with Webster First, according to a Tuesday press release from the credit union. Tonkin began her career at the Webster First in 1983 as a part-time loan servicing clerk when the firm had $70 million in assets. Over the course of her career, Tonkin saw the firm’s assets grow to $1.5 billion. 

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

Most recently, Kane served as Webster First’s controller and vice president of finance before assuming her new role on Monday. Kane has seen Webster First through seven mergers, having joined the bank in 2011 when Webster First merged with Saugus Federal Credit Union where she had been employed since 1998.

“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,” John Thomasian, president and CEO of Webster First, said in the release.

Kane earned her bachelor’s degree in accounting and finance from Salem State University. 

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