Join us at the Central Congregational Church, 14 Titcomb Street to learn about the new time bank coming to the Newburyport area in early 2014. The Time Trade Circle of Greater Newburyport (TTCGN) seeks to become a vibrant, dynamic, diversified and inclusive network of members offering and receiving a wide range of services to meet our needs, to build and strengthen community friendships — and have fun doing it! The TTCGN organizing team will be on hand to share information about the time bank, and answer questions.
A time bank is a system designed to use the currency of time to exchange services within the community. Members earn credit in Time Dollars for each hour they spend helping other members of the community, and spend Time Dollars to receive the services they need. The Time Dollar is the fundamental unit of exchange in a time bank, equal to one hour of a person’s labor. Every Time Dollar is equal regardless of the type of service provided. Time Dollars can be saved indefinitely, they do not earn interest nor do they lose value. Services offered in a time bank are as diverse as the skills and talents of the members. Examples from other time banks include home weatherization, pet care, language tutoring, computer assistance, baking, respite care, home maintenance, musical entertainment, photography, legal assistance, accounting services, chauffeur service and more.
The time-banking model originated in the USA in the early 1980s. Today, 26 countries have active time banks. There are over 300 in the U.S., including several in our local area: the TIme Trade Circle in Cambridge, the Cape Ann TIme Bank, Time Exchange North Shore, Hour Exchange Portland, and others.