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Lyttelton, portal to Canterbury’s historic past, a vibrant sustainable community creating a living future

Five Core Values?

Time Banks operate to facilitate exchanges that honour five core values:-

  • We are all assets - every human being has something to contribute;

  • Redefining work - rewarding the real work in our society by creating a currency which pays people for helping each other and creating better places to live;

  • Reciprocity - giving and receiving are basic human needs which help to build relationships and trust with others

  • Social Networks - building people's social capital is very important, belonging to a social network gives our lives more meaning;

  • Respect- encouraging people to respect others in their community.

For more indepth information on these core values: - http://www.timebanks.org/social-justice.htm

Can goods / tools be traded?

Wouldn't it be great to have a Community Tool Box? You can with Time Banking.

For any trades associated with loaning goods and tools you can claim one hour, regardless of the time the tool is loaned out for. Why is this? Because you are not actually giving of your time, you are loaning a tool. The only time you are giving is the time taken to actually organise the loan of these tools. Sometimes this can be 5 - 10 mins, sometimes 30 mins. Therefore, it is the LTBs policy to round goods and tool trades up to one hour.

If there are any expenses involved in the loaning of goods / tools these should be agreed between the members before the trade takes place.

How safe is the Time Bank?

New members are asked to provide two referees who will be called by the Time Bank coordinator to ensure members' safety. Police checks are also carried out, if required.

Can members be compensated for expenses?

Can LTB members be compensated for travel expenses and any materials they have had to purchase as a direct result of the trade?

The answer is Yes. Time Banking is all about sharing time and this is what you are banking i.e. TIME. Sometimes there maybe a monetary cost involved.

 

  • Transportation - you are providing transport, perhaps to the airport, a medical appointment or grocery shopping. There will be a fuel expense.
  • Baking / Cooking - you are baking / cooking for a member. There will be an ingredients expense.
  • Massage - you are giving someone a massage. There may be expenses involved in oils etc.

 

For trades where there are expenses involved we encourage you to discuss and agree these with the member you are trading with, PRIOR to the trade happening.

What if I don't have any Time Credits?

Time Banking is not about balancing the books. It is about trading skills in the community and reciprocity. You can still trade if you have not yet earned time credits. In fact, for the system to work properly, most traders will move in and out of debit and credit at some point.