Building healthier communities through Time Banking

Declining income and increased job loss, combined with lack of confidence in national and global economic systems has led to an increased interest in community currencies or alternative exchange networks, such as Time Banks, as a vehicle for building healthy communities. Time Banks challenge both the traditional social service and economic models by creating an environment of reciprocity in which everyone‘s work has equal value and all people can help others as well as themselves. Members earn credit for each hour they spend helping someone else, which can in turn be used to purchase hours of services from others within the network. The goal is twofold: to build social capital and to make goods and services more accessible and affordable than they would be in the traditional marketplace. This paper presents the first systematic analysis of the Time Banking model. Using quantitative and qualitative data from three well-established U.S.-based Time Banks, we examine the extent that these networks produce economic, social and health benefits for individuals, organizations and communities. Findings indicate that members show improvements in physical and mental health, self-worth, and self-efficacy due to their membership in the Time Bank. Furthermore, membership is shown to integrate socially isolated individuals into broader networks, and in the process build stronger, healthier communities. At a time of strained budgets, increased human needs, and reduced services for those who need them, more and more people are turning to Time Banks to meet their needs and to support local community and economic development.