Time banking, a grassroots system through which community members exchange services, is a worldwide phenomenon with participants right here in North Carolina. Today's guest post is by Krysta Gougler, who runs a Triangle-area time bank through First In Families of NC.

What’s a Time Bank?

A Time Bank is made up of community members who decide to exchange services using time as their currency. Because all time is valued as equal within a Time Bank, one hour of someone’s time = one time dollar.

Time Banking is built on the idea that everyone has something of value to contribute. When we share our time and talents, we invest in relationships and respect each other’s ability to be both givers and receivers, which enriches the community.

How does it work?

You spend an hour doing something for an individual or group that is a member of the Time Bank, and this earns you a Time Dollar. Then, you use that Time Dollar to receive an hour of a member’s time for something you need. No money is exchanged, only time and talents – from pet sitting to cleaning to making a home-cooked meal, it’s as broad as the talents of the community!

Here's an example. Say you help Jackie do her grocery shopping for an hour, earning you one time dollar. You spend your time dollar to have Bill fix your bike. Bill then spends his newly earned time dollar by asking Lisa to pet sit, and so on. The cycle of giving and receiving continues among Time Bank members to meet each others' needs.

Why join a Time Bank?

It brings us together. The time bank brings the community together, allowing us to recognize our interdependence. It’s a great way to meet your neighbors and give back to others by doing something you enjoy.

It teaches us that everyone has something to offer. People who may view themselves as only a “giver” or a “receiver” begin to realize that not only do have something of value to share, but that everyone is both a “giver” and a “receiver.” Through the Time Bank, each member’s unique voice is respected, and each member’s individual gifts can be offered and shared within their community.

It helps us meet each other's needs. With a Time Bank, giving is receiving. You give your time and talents, and in turn receive another’s time and talents -- meeting needs while meeting neighbors.

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To learn more about the FIFNC Time Bank (open to the communities of Wake, Durham and Orange Counties), contact Krysta at Krysta@fifnc.org or 919.251.8368 x.103.