Time banking is a way for communities to capture value without monetary cost through the recognition of individuals’ skills and time by the use of an indirect time-tracking instrument. Active engagement in time banking partnerships can enable members of a community to grow their personal networks, make lasting friendships, gain the knowledge and skills they need, obtain products/services with their time, grow in self-confidence, and support those at risk of “falling through the cracks”. Over time, time banking can generate profound social change and economic gains by developing human capital and reducing the financial burden of individuals and businesses...
Exercises in reciprocity are a critical element in societies, communities, families, and friendships because they reinforce social relationships by encouraging more altruistic actions and investments of time and energy in one another. The issue with sustaining these exchanges in larger networks is a problem of logistics. Without an instrument of time-tracking, there is an opportunity cost to helping – when your efforts yield nothing for you, which is why most people are not motivated to volunteer their time regularly to strangers...
But when a system of incentives is introduced and recognized by a third-party instrument capable of tracking the service exchanges, the full potential of reciprocity can be realized in big networks through the generation of social capital and individual empowerment. (a rewording of excerpts from: The Evolution of Giving: An Exploration of Time Banking as a Community Development Instrument)
What is Free-Form Time Banking?
Free-form time banking is a decentralized and flexible system of time exchange where participants create, manage, and utilize “time credits” independently within their own groups or networks. Unlike traditional time banking systems with standardized rules and centralized administration, free-form time banking allows communities to develop their own agreements and practices for earning, exchanging, and benefiting from time credits based on their unique needs and priorities.
In this model:
- Time credits are received through contributing time or skills to a common cause, organization, or community.
- The participants collectively decide how to exchange and utilize these credits within their own networks.
- The system fosters creativity, collaboration, and adaptability, enabling people to address localized challenges and support each other in meaningful ways.
Free-form time banking empowers communities by decentralizing control, promoting autonomy, and encouraging mutual aid among participants.
Case: if 10,000 people a month utilize the benefits of a particular food bank, and the food bank needs volunteers; the food bank could recognize volunteer hours with time credits and allow those among the 10,000 service recipients who have “earned” time credits to decide amongst themselves how they want to utilize those time credits within their own cohort to benefit themselves and each other.
Since they find themselves together in one place each week, they could network with one another during that time or, they could make a Facebook page, or WhatsApp group or, any other form of networking or coordination that best suited their needs.
The introduction of a free-form time credit not only allows the organization to recruit much needed volunteer hours but also allows the recipients an opportunity to “give back”, build self-respect and dignity, improve their own financial situation through the development of a time banking community, develop a support network, participate in and benefit from a mutual aid network, and build meaningful relationships.
As it is “free-form” and not organized by the community service organization, but rather independently and organically organized amongst a cohort of service recipients, the community service organization would not be managing, controlling, or warranting the free-form time banks that sprang forth and should not be accountable for the activities of those utilizing the time credits within independently organized free-form time banking communities. Of course, community service organizations choosing to utilize this type of system should seek appropriate counsel to ensure their own lack of liability.
Implementation of the “Free-Form” Time Banking Concept
The idea of “free-form” time banking introduces a flexible, decentralized approach to time banking, empowering communities to create and manage their own networks of time credits. Here’s how it works:
- Creation of Time Credits: A tangible form of “time credit” is established to recognize individuals for their volunteer contributions to an organization or community service forum, such as a food bank. For instance, if a food bank requires volunteers and serves 10,000 individuals a month, those who volunteer could receive time credits for their service.
- Utilization by Recipients: The 10,000 service recipients who benefit from the food bank could then develop their own independent free-form time banking networks. Those who have received time credits through volunteering could use their credits within their own independently organized free-form time banks – evolved through a cohort (the larger community of food bank users).
- Self-Organized Value Exchange: Instead of a centralized authority dictating how time credits are used, the recipients and contributors within the network are empowered to decide collectively. For example:
- A recipient might use time credits to exchange help with childcare, transportation, or home repairs with others in the group.
- The credits could foster a collaborative system where members contribute skills, services, or support to one another.
- Community Strengthening: By allowing a cohort to organize its own system of exchanging time credits, trust and solidarity within the community are reinforced. The approach encourages mutual aid, reduces dependency on external systems, and provides a safety net during economic or social challenges.
- Scalability and Customization: This “free-form” method is highly adaptable. It can be scaled to other organizations and communities, with each group tailoring the system to meet their unique needs and resources.
This concept decentralizes the decision-making process of how time credits are used, promoting autonomy and empowerment within communities.
By fostering cooperative networks, “free-form” time banking builds resilience and mutual support, especially for underserved populations, making it a valuable tool for addressing economic challenges and strengthening community ties. It also promotes the participation and “giving back” of service recipients – allowing them an increased sense of dignity and self-respect. Ultimately it’s a win-win for all involved.
Maybe ideas like this could solve the “volunteer problem” faced by so many community service organizations.
Join us in making the world a better place. You’ll be glad that you did. Cheers friends.