I’m reading Time Bank Takes Root in Echo Park, and sort of kicking myself for not moving to Echo Park a few years ago when we were considering it, if only for the time bank. As I understand it, a time bank is something that you donate your time to (through chores, cooking lessons, pet sitting, baby sitting in hour increments), and then can withdraw the time from the bank for other chores or things you need. You don’t directly barter with your neighbors; you trade with the bank.

 The concept is simple: Members create an online profile that includes a list of the work they’ll do free, or “offers,” along with a list of services, or “requests,” they want in exchange. Dog walking, housesitting, guitar lessons, baby-sitting, help with Photoshop — almost any intangible is allowed. Members don’t exchange services directly with one another — they trade with the bank. So the person who picked up apples and artichokes for you at the farmers market isn’t waiting for you to return the favor.

Every hour volunteered earns a time dollar, which can be cashed in for services offered by any other member of the time bank. Crabtree, for example, did some cat-sitting last month, and now she’s hoping to spend her time dollars on cooking lessons, cello instruction or Volkswagen maintenance tips.

It just sounds like a great idea in terms of providing and receiving services as well as getting to know your neighbors. I’m now wondering how difficult it would be to set one up (e.g., What sort of software would be necessary? How big a population would we need?). More on Time Banks here, and a kit ($49) here with information on software.