Getting Started with TimeBanking
Everything you need to know before starting your own TimeBank
Getting Started with TimeBanking
Everything you need to know before starting your own TimeBank
Coordination
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. Technology (like online platforms or apps) is often used to track transactions and connect members efficiently.
Time Credits
Participants earn 1 time credit for each hour of service they provide to other members of the TimeBank.
These credits can then be used to “purchase” services from other members, thus allowing members to receive help based on their needs.
Service Exchange
The type of services exchanged can vary widely—common examples include tutoring, childcare, home repairs, cooking, transportation, and companionship.
The focus is on skills and support that individuals can offer and receive within their community.
What is TimeBanking?
In TimeBanking, it’s the time you give and receive that counts
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:
Equality
Timebanks’ value everyone’s time and skills equally.
No matter what you have to offer, your contributions will be appreciated, and you’ll receive a credit for each hour of service.
Inclusion
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.
Community Building
Timebanking emphasizes building relationships and community ties. It encourages people to become more involved in their local community, fostering trust and cooperation among members.
Why Start a TimeBank?
What is TimeBanking?
In TimeBanking, it’s the time you give and receive that counts.
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:
Service Exchange
The type of services exchanged can vary widely—common examples include tutoring, childcare, home repairs, cooking, transportation, and companionship.
The focus is on skills and support that individuals can offer and receive within their community.
Time Credits
Participants earn 1 time credit for each hour of service they provide to other members of the TimeBank.
These credits can then be used to “purchase” services from other members, thus allowing members to receive help based on their needs.
Coordination
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.
Technology (like online platforms or apps) is often used to track transactions and connect members efficiently.
Community Building
Timebanking emphasizes building relationships and community ties. It encourages people to become more involved in their local community, fostering trust and cooperation among members.
Why Start a TimeBank?
Inclusion
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.
Equality
Timebanks’ value everyone’s time and skills equally.
No matter what you have to offer, your contributions will be appreciated, and you’ll receive a credit for each hour of service.
Our TimeBanking Core Values
Asset
Everyone of us has something of value to share with someone else.
Reciprocity
“Will you help someone too?” Paying it forward ensures that, together, we help each other build the world we all will live in.
Redefining Work
Some work—like strengthening families, revitalizing neighborhoods, and advancing social justice—money can't easily reward. Time credits recognize and honor it.
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.
Social Network
By helping each other, we reweave communities of support, strength, and trust. Community is built by sinking roots, building trust, and creating networks.
Our TimeBanking Core Values
Asset
Everyone of us has something of value to share with someone else.
Reciprocity
“Will you help someone too?” Paying it forward ensures that, together, we help each other build the world we all will live in.
Redifining Work
Some work—like strengthening families, revitalizing neighborhoods, and advancing social justice—money can't easily reward. Time credits recognize and honor it.
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.
Social Network
By helping each other, we reweave communities of support, strength, and trust. Community is built by sinking roots, building trust, and creating networks.
Benefits of a TimeBank in your Community
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 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.
Benefits of a TimeBank in your Community
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 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.
Ready to Start Your TimeBank Journey?
Here's a step-by-step guide to help you get started.
Step 1
Get to Know TimeBanking, and share that knowledge with others. The benefits of TimeBanking - the work you do accrues a real, tangible payment — banked time you can use to get the help you need.
Step 2
Gather with your team to host an introductory gathering where you spread the word about timebanking to people who are interested in building community and find individuals who will take the next step. We like to call it Gathering with a Purpose.
Step 3
Work with your start-up team to plan for and set up the roles. This is when you recruit your core group of committed individuals to form a start-up team with you. This will be your TimeBank leadership team.
Step 4
Define why and how you will help your community through timebanking. Gather your team and define the purpose of your timebank. Who will benefit from your timebank. What do you promise to your members.
Step 5
Set up base. Set up a timebank email. Check out software platforms to handle your members hours.
Step 6
Start your Outreach work. Create a brochure for new members and do outreach. Prepare a members’ handbook and orientation materials. Invite first new members to a Gathering.
Step 7
Gather as many resources as possible. The onboarding includes the next steps. We will work in developing strategic plan, offer mentorship, and educational workshops and you'll have access to so many valuable resources. Attend our monthly programs. Get to know other TimeBanks.
Step 8
Keep Going and Growing. Turn to your members for ongoing ideas, support, and Energy. Remember: Purpose, Participate, and Repeat will lead to Small + Small = Big! Do not forget to add your TimeBank to the directory!
TimeBank Stories
New River Valley TimeBank, USA
"People ask, ‘what is this?’ When we tell them and invite them to sit, surprisingly they do! One event was standing room only! All are welcome in whatever way they show up! In fact, if someone is struggling and we see that, then we jump in and ask THEM to help us! Yeah, sounds crazy and counter-intuitive and it works wonders