What Is a TimeBank?
A timebank is a network of people who exchange services with others in the group – for free! For each hour a member spends providing a service, an hour is “banked” in their account. The member can use this hour of credit later to access a service provided by any other member, not just the member they worked for. In other words, each hour of service provided is logged and becomes the unit of “currency” that “purchases” other services.
Benefits of Timebanking
Timebanking has many benefits! Members’ lives are enriched. Services are offered and received – everyday tasks such as gardening and household chores can make a big difference in a household. But your participation also provides the “grace notes” of life: companionship, a cup of coffee and a tasty treat, an educational experience, a book. Helping someone else is rewarding, receiving something you need is a joy, and connecting with your neighbors and community can provide inestimable pleasure.
Neighbors helping neighbors can help us to:
- Make friends
- Feel a sense of purpose and the rewards of helping others and sharing talents
- Access services that might otherwise be out of reach
- Make the difference that allows someone to continue to live independently at home
- Save money
- Relieve hesitation that some might have about asking for the help they need
- Give others the opportunity to recognize the value of their contributions