Tom Webster

Chief Financial Officer

Tom Webster has been First West Credit Union’s chief financial officer (CFO) since the credit union was formed through the mergers of Envision Credit Union and Valley First Credit Union in 2010.

Tom joined the credit union system in 1992 as controller for Delta Credit Union. He served as vice-president, finance, for nearly 10 years before a being appointed CFO in 2004 for what had by that time become Envision Credit Union. In his role as CFO Tom has overseen the financial growth of the credit union from less than $1 billion in assets to close to $10 billion in assets. He has also overseen the expansion of credit union operations across Canada through credit union-owned subsidiaries, First West Capital and First West Leasing.

In addition to his financial expertise, Tom also has an extensive background in risk management. In the past, he was part of a credit union taskforce that worked with Stabilization Central to develop the enterprise risk management framework (ERM) for the B.C. credit union system. With this experience, in 2016, Tom was appointed chief risk officer for First West. In this new role he is responsible for the management risk oversight at the credit union.

Tom graduated from the University of Victoria with a Bachelor of Arts in Economics and has been a chartered accountant since 1987. He articled with the Auditor General of British Columbia and received his CA designation while working for Pannell Kerr MacGillivray.

In addition to his duties at First West, Tom has taken on responsibilities in professional organizations and the community. He is past-president of the Board of Financial Executives International (FEI)—Vancouver chapter and FEI’s national board. FEI is an association of senior financial officers representing 8,000 of North America's leading corporations. Tom recently completed the Director Educational Program (DEP) offered through the Institute of Corporate Directors and Rotman School of Business.

Featured Posts

April 7, 2016

For a second consecutive year, we achieved financial results that were comparable to last year’s despite the challenging economic environment. The steadfast focus, passion and engagement of the First West team, coupled with the strong performance from our subsidiaries, impacted our overall financial performance. We also exceeded our target for membership growth—one of our most important success factors for the long-term health of our credit union, bringing our net new members...

April 4, 2014

Get all our financial and business highlights in the First West 2013 online annual report. Inside, you'll find:

  • Message from the Board Chair and the CEO
  • Presidents' messages and regional reports
  • Performance scorecard
  • Management's discussion and analysis
  • Financial statements
  • First West Foundation and community highlights
  • Employee highlights

...

September 17, 2013

5 reasons why fee-free banking was right for First West—and might be right for your credit union

According to a recent Maclean’s article, there’s a sleep crisis in North America and technology is partly to blame. I’m not usually tempted away from 40 winks by my smartphone or laptop. No, for me, business decisions are sometimes the culprit robbing me of slumber, like when we...

March 20, 2013

3 reasons membership growth should matter to your credit union

As Chief Financial Officer, I spend a lot of time examining indicators of financial health—the things you’d expect from the head finance guy: ROA, expense ratio, operational efficiency, the bottom line of course, and others. But there’s one number that I’ve learned to pay equal attention to over the last few years because it’s a vital sign for any credit union—membership...

April 17, 2012

Download your copy of First West’s 2011 annual report.

The report includes detailed financial results and management discussion and analysis for 2011. Also, hear from board chair Shawn Neumann and CEO Launi Skinner on the direction of the credit union and some retrospective remarks.

2011 Reports from our regions are also available—download yours for results and perspectives from regional presidents...

 
People
November 10, 2011

Tom Webster is the marathon-running CFO of First West Credit Union. As is often the case with long distance runners, their experience overcoming obstacles can be applied off the track. As such, during the recent economic turbulence Tom was the cool head guiding First West to calmer skies.

Victoria-born Tom, 53, graduated from UVic with a BA in economics and became a chartered accountant (CA) in 1987. Moving to Vancouver that year, he began public practice, but what he really craved...