Q&A

What is a TimeBank?
The TimeBank is a "pay-it-forward" system used to help strengthen the community using hours as currency instead of cash.  Each hour of time a member spends doing something for another member -- such as mowing their lawn or teaching them how to use a computer -- gets banked as a TimeDollar.  That TimeDollar can then be used by the member for any other offered or requested service, such as transporting a couch or playing a card game with kids.  Money is never exchanged, only time.  All time exchanges are tracked in an on-line computer program, Community Weaver, that is accessible to all ROTB members. 

See the Circle of Giving see how it all works. 

 

Isn’t this like bartering? 

It is similar, but the main difference is that you don’t have to pay back the person who does you a favor.  Since it is a “pay-it-forward” system, people find it much easier to do things for others in the TimeBank.  You don’t have to figure out what to give back to the person who helped you.  Instead, tou can choose how to pay-it-forward doing what you want, when you want.  Another major difference between bartering and TimeBanks is that all TimeDollar exchanges are tax-exempt.

 

Who benefits from joining a TimeBank?
Everyone can benefit from joining a TimeBank!  The greatest benefit of a TimeBank is that everyone’s time is earned and spent equally, regardless of their education, age, or social status.  A surgeon’s time is as valuable as someone who is currently unemployed.  A senior citizen’s time is worth as much as a teenager’s.   Most people are friendly and generous and are often just looking for opportunities to connect with and help others in their neighborhood – they just don’t know how to start.  TimeBanking gives people an opportunity to get to know their neighbors, forge lasting friendships, and accept help from people who truly enjoy sharing their skills and time.

 

What if I don't have anything to offer the members of a TimeBank?
Many people have the misconception that they don’t have anything of value to offer a TimeBank.  The most fundamental value of TimeBanks is that EVERYONE, from a teenager to a senior citizen, has something to offer.  Can you rake leaves, baby sit, walk a dog, pull weeds, paint, read, stuff envelopes, type, water plants, drive a car, tutor elementary school subjects, distribute fliers, cook, or clean?  Many people in your community need help in those things and many more!  Everyone has something to offer.  And because we all have only twenty-four hours in a day, our time is equally valuable.  The ability to give back to your community, to make friends with your neighbors and become truly connected, is truly invaluable. 

 

What kinds of services are exchanged in a Time Bank?
Here is a list of some of the kinds of services that members exchange in a Time Bank.

• Help at Home: Child Care, Cooking & Sewing, Hair & Beauty, Housekeeping/Chores, Pet Care, Respite Care, Miscellaneous
• Community Activities: Clean Up/Recycling, Community Service, Fundraising, Special Projects, Work for Social Change
• Arts, Crafts, & Music: Classes, Crafts, Entertainment, Lessons, Photo & Video, Theater
• Home Repair: Car Care, Carpentry/Construction, Electrical, Garden & Yard Work, Painting, Plumbing
• Transportation: Local Errands, Doctor’s Appointments,  Rides to the Airport
• Education:  Computers/Technology, Languages/Translation, Personal Finances, Tutoring/Mentoring
• Business Services: Clerical, Computer Support, Financial, Marketing, Research, Odd Jobs

 

Isn't this just one more thing that's going to eat up my extra time?
Not unless you want to give extra time!
Many of the services people exchange in a TimeBank are the types of things they are already doing every day. For example, those of us who have children are already cooking for them, driving them to activities, and helping them with their schoolwork—among other things. Cooking an extra portion of food for someone down the street who is housebound, picking up your neighbor's kids on the way to soccer practice, or walking your neighbor’s dog when you take your dog for a walk doesn't add much work to your day.

Can members always be trusted?
TimeBanks build relationships and trust within communities because people continuously interact with each other. If you have any doubts about someone, please do not accept their offer for help.  It is up to each member to get to know and feel comfortable with another member coming to his or her house. The leadership team will provide opportunities throughout the year for TimeBank members to get to know one another and is available to respond to members’ pre-exchange concerns.  If someone is dishonest or takes advantage of a TimeBank member, the leadership team will take action immediately.

Who runs the TimeBank? 
The Royal Oak TimeBank was started by Jim Stange and is run by a volunteer leadership team, known as the Kitchen Cabinet, that is responsible for helping to set up exchanges, establishing policies and procedures, and coordinating outreach and group activities.  See our “Kitchen Cabinet” page for more information.

 

Does it cost anything to join the Royal Oak TimeBank?
Yes.  The suggested annual membership donation is $25 for an individual and $40 for a family.  When you sign up, you will receive 2 TimeDollars to use to start making exchanges.  The suggested annual membership donation is used to cover the administrative costs of running the TimeBank (photocopying/printing, website hosting, community events, etc.).