A time bank allows people to engage in exchanges based upon time and labor commitments without the assignment of monetary value and without monetary exchanges. It is based upon that idea that there are many valuable things that people can and should do for one another without expecting, requiring or using money as a medium of exchange.
The TimeBank has three main goals:
Strengthen the fabric of our community.
Serve people and give them a means to serve.
Establish new relationships and meet real needs of our community members.
We recognize that each person has talents to share, and that the overall community is strengthened when neighbors help one another. For every hour that you help meet the needs of another member, you earn a time credit for the exchange. This time credit can then be redeemed for services from others, and the never-ending cycle of sharing continues.
For more information about timebanking, visit TimeBanks.org