A time bank is a reciprocity-based work trading system in which hours are the currency. With time banking, a person with one skill set can bank and trade hours of work for equal hours of work in another skill set instead of paying or being paid for services. Time banking can be especially effective in communities with limited financial resources like ours.
For example: If Antonio knows how to play the violin he may agree to provide violin lesson. If Antonio spends 1 hour teaching Miguel how to play the violin, rather than being paid monetarily, he will receive 1 time bank unit (equal to 1 hour of service). In return, Antonio can ask Mike to help him move his couch. He would then pay Mike 1 time bank unit per hour of work.
The Good Neighbors Time Bank is a regional time bank serving communities in Southeastern, PA. Time banks are non-monetary economies focused on skill and resource sharing. Time banks believe that:
Everyone has skills and strengths to offer.
Everyone's time is of equal value.
Everyone benefits from networking and relationship development.
Everyone gets back what they put into the time bank.
Everyone's needs can be met if we have the opportunity to rely on one another and respect what everyone can offer.
The Good Neighbors Time Bank will work with the Project Coordinator at Barrio to understand the platform so that they can effectively train others on the use of the platform.
Our timebank is looking to help our community's needs such as:
Build common wealth