In TimeBanking, it’s the time you give and receive that counts.
Benefits of a TimeBank in your Community
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Promotes Trust and Cooperation: Members build trust as they engage with one another, fostering a sense of community spirit and cooperation.
Enhances Skills and Learning: Participants may learn new skills from others while offering their own expertise, promoting a culture of lifelong learning.
Economic Resilience: TimeBanking can supplement existing community resources, providing services that may not be accessible otherwise, especially during economic downturns.
Social Capital: It strengthens social ties and networks, improving community resilience and support systems.
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© 1995- 2024 TimeBanks.Org is a registered (501c3) charity based in Washington D.C. All rights reserved. TimeBanks.Org refers to the TimeBank global advocates as a network of TimeBanks and/or one or more of its members, each of which is a separate legal entity.
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The type of services exchanged can vary widely—common examples include tutoring, childcare, home repairs, cooking, transportation, and companionship.
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The focus is on skills and support that individuals can offer and receive within their community
Service Exchange:
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Participants earn time credits for the services they provide to other members of the TimeBank. For example, if you help someone with gardening for one hour, you earn one time credit.
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These credits can then be used to “purchase” services from other members, thus allowing members to receive help based on their needs.
Time Credits:
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A coordinator or organizing committee usually oversees the TimeBank, helping to match requests with offers, maintain the records of time credits, and facilitate community events.
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Technology (like online platforms or apps) is often used to track transactions and connect members efficiently.
Coordination:
The fundamental principle of TimeBanking is that everyone’s time is valued equally.
One hour of service rendered earns one hour of time credit, irrespective of the type of service provided.
Here’s a detailed explanation of how it works and its benefits:
Timebanking emphasizes building relationships and community ties. It encourages people to become more involved in their local community, fostering trust and cooperation among members.
Community Building:
TimeBanking is all inclusive, allowing anyone to participate regardless of their financial situation or socio-economic background. Each person’s time is valued equally, promoting a sense of equality among participants.
Inclusivity:
Timebanks often have flexible rules on how time credits can be traded, but they generally encourage participants to communicate openly and negotiate exchanges directly with one another.
Flexibility:
TimeBanking has a set of principles we live by. The 5 core values are:
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Asset: Everyone of us has something of value to share with someone else.
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Redefining work: There are some forms of work that money will not easily pay for like building strong families, revitalizing neighborhoods, making democracy work, and advancing social justice. Time credits reward, recognize and honor that work.
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Reciprocity: 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.
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Community/social networks: By helping each other, we reweave communities of support, strength, and trust. Community is built by sinking roots, building trust, and creating networks.
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Respect: The heart and soul of democracy lie in respect for others. We strive to respect where people are in the moment, not where we hope they will be at some future point.
