Time bank exchange forming in Fayetteville

FAYETTEVILLE — Eighteen people gathered in Fayetteville on Sunday to discuss time banking, a type of bartering exchange service that is tracked online.

Mary Thornton of Fayetteville is coordinating an effort to create a group in Fayetteville to share skills and services. The first group met at the Fayetteville Public Library.

Thornton will have a table at the Fayetteville Farmers' Market on Saturday and plans a second meeting in two weeks.

Time banking is like bartering, but one doesn't repay another person directly. It's considered a pay-it-forward system. A person offers expertise and banks time based on hours served; then that person can buy someone else's time in exchange. Services are tax exempt.

Web-based software is used to arrange exchanges and track time dollars earned and spent.

"Someone will always be available to make matches for members who do not have access to or are unable to use the Internet," Thornton said. "There will be a very small annual membership fee to cover the expenses of administering and growing the time bank."

Examples of services include child care, cooking, sewing, housekeeping, pet care, fundraising, counseling, diet and nutritional counseling, yoga, meditation, medical services, crafts, photography, theater, car care, carpentry, yard work, painting, plumbing, errands, worship, help with personal finances, computer support, tutoring, clerical work, legal advice or research.

More information is available at timebanks.org.

Time banks are started by community members and reflect their choices and needs. Community groups, neighbors and friends, faith-based groups and churches, agencies, nonprofits, eldercare organizations, hospitals and medical practices use time banks, according to the Web site.

Thornton said the group won't be limited to Fayetteville, but that will be the core focus.

"Ideally, communities with an interest in time banking would each start their own," she said.

According to the Web site, the roots of time banking began in 1980 when Dr. Edgar S. Cahn, suffered a massive heart attack at age 46.

In the hospital, he envisioned time dollars as a new currency.