Breakout Session #3

Tim Harrington

What All Directors Need to Know About Financial Statements
Tim Harrington, TEAM Resources

How’s your credit union doing? No, really, how is your credit union doing? As a board member, you have an obligation to know and understand how your credit union is doing…financially. The environment has become more demanding. It is no longer enough to come to meetings and trust that someone else on the Board understands your financial statements and ratios; or that if something is amiss, the CEO will let you know. According to NCUA Reg. 701.4, each Director, regardless of background, has an obligation to understand the financial condition of their credit union. Newly elected Directors have six months after election to become financially literate. This session will cover key concepts to help new and experienced directors better understand their credit union’s financial condition.

About Tim Harrington

Author, consultant and speaker Tim Harrington has worked with credit unions in 48 states, two territories, Canada and Mexico. His progressive ideas and broad knowledge of credit union issues has made Tim a valuable resource for credit unions nationwide.  Tim has spoken to tens of thousands of credit union volunteers and staff and continues to inspire them to improve their credit unions.

Since 1996, Tim has been President of T.E.A.M. Resources, a firm providing consulting, strategic planning, and training to credit unions from coast-to-coast.  TEAM Resources’ clients range from a few million in assets to the billions in assets.

From 2001 to 2006, Tim was the Chairman of the Board of a $150 million credit union in Tucson, Arizona. Tim was appointed to the Board of this troubled credit union in 2001 and served until 2006. During his time on the Board, the credit union evolved from losing over $2,000,000 per year to earning a profit of nearly $2,000,000 by 2006.

Tim was formerly a Partner with the nation’s 3rd largest auditor of credit unions, known today as CliftonLarsonAllen. Mr. Harrington has been working with credit unions since 1989 when he directed the Internal Audit of a large credit union in Tucson, Arizona.  Prior to that, he was with a national accounting firm and has been practicing accounting and consulting since 1980.

Because of his knowledge, wit and unpretentious delivery, Tim is a much sought after speaker in the credit union movement. Tim has made presentations for CEO conferences, Directors conferences, Supervisory Committee conferences, lending conferences, marketing conferences, and many more. He is able to bring his wide ranging knowledge to benefit credit union volunteers, senior management teams and staff members on a wide variety of relevant and important topics. Tim is on the faculty of the CUNA Finance for Non-Financial Managers and Volunteers School, The CUNA Volunteer Certification School and CUNA Management School.

Tucson, Arizona has been home since 1980. Tim is a native of Montana and holds a BBA in Accounting from Gonzaga University in Spokane, Washington.  He has also attended universities in Morelia, Michoacan, Mexico and Florence, Italy and speaks several languages.

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