What is time banking?
A time bank is a reciprocity-based work trading system in which hours are the currency. With time banking, a person with one skill set can bank and trade hours of work for equal hours of work in another skill set instead of paying or being paid for services. Give one hour of service to another, and receive one time credit.
Join the Community Unity time bank
Here at the Common Unity Project we work on a philosophy of ‘pay it forward’ and that is one of the main philosophies on which time banks work. Think about how you can help others and that will lead to you earning your time bank credits. A member can be an individual, family or corporate.
If you’d like to know a bit more about time banking read on:
The Five Core Values of TimeBanking
Edgar Cahn is the founder of modern time banking. He noticed that successful time banks almost always work with some specific core values in place. In his book No More Throw-Away People, he listed four values. Later, he added a fifth. These have come to be widely shared as the five core values of time banking – and most time banks strive to follow them. They are a strong starting point for successful time banking.
Every one of us has something of value to share with someone else. Think about what you have to offer – you will have a skill that someone else needs.
There are some forms of work that money will not easily pay for, like building strong families, revitalising neighbourhoods, making democracy work, advancing social justice. Time credits were designed to reward, recognise and honour that work.
Helping that works as a two-way street empowers everyone involved – the receiver as well as the giver.The question: “How can I help you?” needs to change so we ask: “Will you help someone too?” Paying it forward ensures that, together, we help each other build the world we all will live in.
Helping each other, we reweave communities of support, strength & trust. Community is built by sinking roots, building trust, creating networks. By using timebanking, we can strengthen and support these activities.
Respect underlies freedom of speech, freedom of religion, and everything we value. Respect supplies the heart and soul of democracy. We strive to respect where people are in the moment, not where we hope they will be at some future point.
Time Bank Giving and Receiving – Four Kinds
It’s helpful to think of four main kinds of timebank exchanges:
- 1:1 – One person gives another person a ride to the doctor.
- 1:Many – A yoga teacher earns credits teaching a yoga class to four other members.
- Many:1 – Four members earn credits doing a garden clean-up for a senior.
- Many-Many — A whole lot of people earn credits organizing and participating in a community pet-parade.