ESSEX TIME BANK
Time Bank Description
The Essex Time Bank will provide a reciprocal service exchange. Examples of services are
mentoring children, helping neighbors with house improvements, or caring for an ill neighbor.
(See more examples in Table 1.) The "time" one spends providing these types of services earns
"time credit" that one can spend to receive services from fellow Time Bank members.
One hour of one person's time is equal to one hour of another's. Credit hours are earned for
providing services and spent by receiving services. Upon earning a credit hour, a person does not
need to spend it right away: they can save it indefinitely. Credit hours can be deducted from each
account for Time Bank overhead, in order to reimburse those providing service to run and
maintain the Time Bank, or donated to community efforts.
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