In a modern society, the fast-paced lifestyle and stand-alone living environment make relationships among neighbors cold and distant, even to the point of non-communication. To improve relationship among neighbors and to build a sense of community that is mutually beneficial to everyone, in Belgium, the Time Bank was born. Different from ordinary banks, the currency received and dispensed by the Time Bank is time instead of money.

The purpose of the Time Bank is to bridge the gaps in the community by allowing its "customers" to use their spare time or services in exchange for help from other "customers". The business model of the Time Bank is pretty simple. Participants who are willing to join the bank are only required to fill out a registration form to deposit their own time in the Bank. When in need, they simply need contact the Bank to make a withdrawal of time and services deposited by other the other customers. For example, Mr. A spends time to help Mrs. B look after her kids, while Mrs. B uses her time to help the vacationing Mr. C pick up his mail, then Mr. C teaches Mrs. D to play piano, and lastly, Mrs. D helps Mr. A walk his dog. This way, everyone gets the help needed and helps others, too.

The emerging of the Time Bank not only enables people to help each other out through the exchange of time and services, but also promotes community cohesiveness which is much needed in a modern society. Not surprisingly, the Time Bank has been receiving increasing attention and interest.

Source:

http://news.chinesewings.com/cgi-bin/site/b.cgi?id=20050613203674196