UMM is currently assessing whether there is enough interest in the community to create a time bank for our neighborhood. At UMM, we believe other economies are possible, and actively promote the idea of the time bank as a way to think creatively about systems involving labor, time and a market exchange of services. We imagine a complementary local economy that is not alienated from social capital but rather intertwined with it. There is a widespread contemporary movement of time banks led by creative thinkers across the world and we wish to join the movement by imagining and implementing one that works for us.
Unlike one-for-one bartering, time bank transactions are ways for neighbors to request, offer and pay for help in the currency of time, no money exchanged. Any kind of activity or skill, from a ride to LAX to native-plant expertise, can be part of the collective exchange pool. Once the time bank transaction happens, the credited hours that the helper earned may be saved and used for another time. Time banks are creative ways to extend resources and cultivate a sense of solidarity in this community. Please get in touch if you’re interested!