Time banking offers a system of exchange that uses time as currency. It creates a structure where people can swap their time and skills on an hour for hour basis with each other for the benefit of all. One hour = one ‘time credit’ and time and skills are valued equally allowing everyone to take part
Participants can earn and spend as many credits as they wish to, and for each hour given a time credit will be received in their account. Credits can then be used to access help from others in the time bank, to access activities or social events that the time bank has negotiated with local organisations. Time credits can also be donated to another person, each hour used in these ways will be debited from an account.
Time banking recognises all participants of any age and ability as an asset that can offer something to another person. Skills involved are not necessarily complex – dog walking, companionship, simple DIY even attending a class, course or social event are all valuable assets to a time bank.
For further information contact the Time Banking Development Officer at PAVS