Time banking

Definition: Time banks aim to connect members, different organizations, and sectors for needed services, thus weaving relations and creating community (Stephanie Rearick of Dane County TimeBank in Madison, WI). The concept is that everyone's time is worth the same amount, you exchanged services based upon hours spent on the task

Application: In community development work, a Time banks are a mechanism to create an economy where time is the currency. Time banks generally exist within geographic communities, with the purpose of bringing people together and strengthen social relationships.

Adaptation: Time banking is really interesting concept and could be applied in other field. I think it would be a useful technique on a smaller scale (interorganizational) or even as a system that operates on something other than time. In working with the TimeBank this semester, there seems to be a few parts of how it works that could be tweaked to make it work better.

1 comment:

  1. In adapting timebanking to a new community, an issue to be considered may be what stage the community is at currently. In order for time banking to work, there must be good communication and trust among the community. My work with the Time Bank this semester has shown this aspect of community work to be most vital.

    Application: As said before, the purpose of time banking is to bring people together and develop a strong community bond. While time banking focuses on "banking time" with neighbors, this can also be done among co-workers, club members, etc.