What is a TimeBank? A time bank is used to engage people in a system of exchange. It is a way for local people to help each other, be recognised for the help that they give and build relationships within communities. Everyone's time is valued equally regardless of the skills being exchanged using the hour for an hour principle. Members receive regular TimeBank statements so they can keep track of their time credits or even donate some to other participants or the 'TimeBank Pool'. All activities maintain set standards of care, including insurance and a code of ethics. Organisations can also join the TimeBank and put in their own resources in return for help or resources from other members whether an individual or another organisation. An example of an exchange could be offering a meeting room for 2 hours (2 time credits earnt) and requesting some legal advice for 1 hour (1 time credit spent). How it works: For every hours help a member gives another, (e.g. guitar lesson, digging garden, giving a massage), they receive one time credit which they can spend on receiving help from another member (e.g. fixing a bike, setting up a wifi connection, hanging some wallpaper). Time credits are banked in the TimeBank using a software package called Time and Timekeeper and the Timebank timebroker matches the giver and receiver.
