What is a time bank?
A time bank is a way for people to share skills within their community and be rewarded for it – in time. For every hour of time you give, providing a service for another member, you receive one time credit.
What can you do with your time credits?
You can exchange your time credits when you need something done e.g. you might want a gate fixed or get someone to collect your prescription. You can also choose to donate time credits to someone else or to a local charity or community group.
Who can join a time bank?
Age, ability, lack of finance or limited mobility are no bars to participating in the time bank, it’s for everyone!
The Time Bank
When you join the scheme, we will open an account for you. Your hours will be recorded on a computer and we will send you a regular statement of the time you have given and received.
A few hours of your spare time when you want to, doing the things you enjoy.
The opportunity to get some help for yourself when you need it.
The satisfaction from making the quality of life better for someone else.
An extra bonus for you
Time banking is founded upon five principles, known as Time Banking’s Core Values:
- We are all assets. We all have something to give.
- Redefining Work
- Some work is beyond price. Work must be redefined. To create “the village” that raises healthy children, builds strong families, revitalizes neighbourhoods, makes democracy work, advances social justice, and even makes the planet sustainable is valuable work. It needs to be honoured, recorded and rewarded.
- Helping works better as a two-way street. The question: “How can I help you?” needs to change so we ask: “How can we help each other build the world we all will live in?”
- Social Networks
- We need each other. People joined in shared purpose are stronger than individuals. Helping each other, we reweave communities of support, strength & trust. Community is built upon sinking roots, building trust, creating networks. Special relationships are built on commitment.
- Every human being matters. Respect underlies freedom of speech, freedom of religion, and everything we value. Respect supplies the heart and soul of democracy. When respect is denied to anyone, we all are injured. We must respect where people are in the moment, not where we hope they will be at some future point.
The Time Broker
Each time bank will have a “broker”. The broker is the person who keeps a record of everyone’s contributions. The broker manages the practicalities such as putting people in touch with each other, obtaining references for the time bank members, organising insurance and where necessary, obtaining disclosures for members working with vulnerable groups.
When you join the scheme, the broker will open an account for you. Your hours will be recorded on a computer database, called Time on Line, and you will be sent a regular statement of the time you have given and received.
Become a broker
Would you like to be a time bank broker and help shape the development of your own community Time Bank?
Below is a list of the roles and responsibilities of a broker:
- Meet and greet new and existing time bank members.
- Submit and update data onto the database or paper-based alternative.
- Answer enquiries regarding the Time Bank.
- Put together information packages.
- Help to distribute information to members.
- Assist with promotion at time bank events.
It can be a lot of fun working with the team and meeting new people in your area. And of course any time you spend on this can be banked in your account.