The 28-year-old has agreed a two-year deal with the Crues in a move facilitated by financial support from the club's fans.
Crusaders managed Stephen Baxter has praised the club's supporters for "rallying around magnificently".
"Timmy is a proven goalscorer. He has scored goals at Linfield and Dungannon Swifts. He is at a good age and he is a loyal player," added Baxter