timebank

TimeBank is a community-based mutual aid system that uses time as a medium of exchange. In a Time Bank, members earn time credits by providing services to others and spend credits to receive services in return. One hour of work earns one Time Hour, regardless of the service’s market value, and transactions occur within the network rather than through cash.

The concept originated in the United States during the 1980s, credited to sociologist and economist Edgar Cahn, who developed Time Dollar as a framework that evolved into organized time banks. Since then, Time Banks have appeared in many countries and are often run by nonprofits, libraries, schools, or faith-based organizations.

How it works: members join, offer a range of skills or tasks (for example, child care, tutoring, home repair, elder care, tech help, or translation), and log the hours they provide. They can later use their Time Hours to obtain services from other members. Records are kept in a ledger or digital account, and most programs emphasize reciprocity, trust, and community building.

Benefits include strengthened social ties, expanded access to services for people with limited cash resources, and the cultivation of volunteerism and mutual aid. Limitations include the possibly narrow scope of services, concerns about quality and safety, the difficulty of valuing professional services, and administrative costs. Some critics note that time-based systems may inadvertently undervalue skilled, professional labor.

There are numerous Time Banks worldwide; programs are often integrated with community centers, libraries, or local nonprofits, and some use online platforms to connect members.