Date: 2024-10-13 Page is: DBtxt003.php txt00004392
Complementary Currency
Valley Time Trade
Burgess COMMENTARY
Peter Burgess
About Us We are a caring and interconnected community of people who help each other by sharing our abilities, talents and experiences. We all have needs; we all have gifts to share. When you or your organization provides a service for another member, you earn one Time Dollar for each hour you spent providing the service, You (or your organization) can then exchange each Time Dollar you earn for an hour of service from someone else. Contact us for more information: 413-585-0373 or vtt@commonwealthcenter.org.
What is Time Trading? Time Trading is an organized exchange system through which members earn time credits for time spent helping other members. One hour of service earns one time credit, no matter what the service. Members can “buy” hours of service they want or need with time credits. Everyone’s time and service are valued equally. Valley Time Trade keeps track of service offers, requests, exchanges and credits through an online database. We are part of a movement across the country and across the world. There are over 300 Time Banks in the United States and similar systems operating in over 25 countries. How Does It Work? Trader Maria fixes Trader Al’s fence, which takes 2 hours. She earns 2 time credits. With her time credits, she purchases 2 one-hour guitar lessons from Trader Juan Carlos. Trader Juan Carlos spends his time credits on a massage from Trader Jamila… It’s easy: give what you want, get what you need! Anyone in the community can sign up to be a member. Each potential member attends an orientation and fills out an application. Once this process is successfully completed, the member is granted access to log on to our secure website, where members post service requests and offers. If a member does not have a computer or Internet access, we will look for a computer buddy for them. We ask people to pay yearly dues on a sliding scale, currently from $10 to $50 per year. No one will be turned away if they can not pay. There is a separate member structure for organizations as well.
Our Mission Connect people and unmet needs with untapped resources Provide economic relief through access to alternative resources Encourage increased community interaction, wherein people help themselves and others Foster mutual respect for all individuals in a community and bridge gaps between existing barriers Promote equality, recognizing that all services are necessary to society and equally valuable Our Core Values: Assets: We can all be valued contributors. The real wealth of any society is its people. Every individual has valuable experience, skills and connections to contribute to the wellbeing of others in their local community. Work: Some work is beyond a dollar value. Work has to be redefined to value whatever it takes to raise healthy children, build strong families, revitalize neighborhoods, make democracy work, advance social justice, and make the planet sustainable. Reciprocity: Helping works better as a two-way street. Giving and receiving are the basic building blocks of positive social relationships and healthy communities. All people want to make positive contributions – when we give freely, and receive freely, we honor each other’s positive contributions. Social Capital: Networks make individuals stronger. Networks are stronger than individuals. Community is based on putting down roots, building trust, and creating networks. Respect: Respect for all means accountability to all. Our respect for our neighbors, our communities, and our planet, is displayed by being accountable for our behavior and actions. When respect is denied, we all are injured. In order to offer respect, we must recognize our power to hurt or heal with all our choices and actions. Our Overall Belief: The Valley Time Trade is a way to come together to meet practical needs, have fun, make new connections, maintain old ones, while affirming the dignity and worth of all. Weaving community – an hour at a time.
FAQ What is a time credit? How do I earn or spend time credits? Is there a minimum age requirement in Valley Time Trade? Do I have to live in Northampton to be part of VTT? And what about going into debt? Can I save time credits? Can I give time credits to someone else? What services are provided? Can Time Trade members do service for member of my family? Can I do a service that I am not listed as offering? I need urgent help. Can I count on the Time Trade? I need a service that requires tools. Who is responsible for providing these? Should I tip a Time Trade member for good service? Do I have to report my service exchanges to the IRS? Why does the Valley Time Trade need donations if they are a non profit? What’s the difference between Time Tradeing and bartering? I want to be more involved with the Valley Time Trade. How can I do this? I want someone from the Valley Time Trade to give a presentation at my community function. Who should a call? What is a time credit? A time credit is equal to one hour of service. After the first hour is complete, time credits may be counted in quarter hours from there on. In the event that a service lasts less than an hour, for record keeping, the minimum credit allocated is one time credit. ≤1 hour = 1 time credit 45 minutes = .75 time credit 30 minutes = .5 time credit 15 minutes = .25 time credit How do I earn or spend time credit? To earn a time credit, you must do an hour of service for another Valley Time Trade member or member organization. To spend a time credit, you must have a Valley Time Trade member complete an hour of service for you. Is there a minimum age requirement in Valley Time Trade? No! We believe everyone, young and old, has something to offer. Youth can offer services for navigating the computer and internet, yard care, pet sitting, crafting, volunteer projects, and more! Please do take care however to exchange safely: meet in a public space with a parent or guardian nearby! Do I have to live in Northampton to be part of VTT? No! We chose the name Valley Time Trade because we encourage members of the communities outside Northampton to be involved as well. We currently have members in Franklin, Hampshire and Hampden County. And what about going into debt? Going into debt is 100% ok and even necessary to make our system work. The ideal balance would be ZERO because our members should be providing as many services as they are taking. An exchange happens when one person receives a service (a negative transaction) and the other one provides the service (a positive transaction). For us, it’s equally irresponsible to rack up tons of credits, as it is to go way into the negative. We’re all programmed to think of debt as bad: Valley Time Trade needs your debt! Can I save time credits? Each time credit is traded in your personal Time Trade account, available to be used when you want or need a service from another member. These savings are inflation proof. One time credit will always equal one hour of service. However, saving time credits without spending hurts our time trading economy as the cycle of reciprocity ends. With this in mind, we encourage you to try to complete at least six hours of complete exchanges per year. Can I give time credits to someone else? Yes. If you are aware of a need that member has to receive a service, but they are unable to earn time credits themselves, you may donate time credit to them. What services are provided? The services that are provided are dependent upon what our members are willing to share with each other, and therefore vary as new members join us and based on the availability of our members. Can Time Trade members do service for member of my family? Yes and No. If the family member shares the same household as you, then yes, we consider them to be members along with you. If your family member lives in another location, we encourage him/her to apply to be a member of the Valley Time Trade to receive our members’ services. Can I do a service that I am not listed as offering? Yes. If another member requests a service that you can perform, you are encouraged to do so. If you would like to continue to offer that service, you may add a service ad on your profile on our online time trade software. I need urgent help. Can I count on the Time Trade? Maybe. Valley Time Trade is not here to provide emergency services, but depending on the service, our members may still be able to help. I need a service that requires tools. Who is responsible for providing these? The person requesting the service is responsible for providing all necessary materials. Always check with the member providing the service to confirm what is needed. Should I tip a Time Trade member for good service? No. Money and time credits can never mix. Instead of giving a tip, “pay it forward” instead by giving excellent service to another member! Do I have to report my service exchanges to the IRS? No. All of your services that you exchange through the time Trade are not taxable. See the tax-exempt document on http://www.valleytimetrade.org. Why does Valley Time Trade need donations if they are a non profit? We have operational costs. Also, Valley Time Trade would like to grow and provide new programs and opportunities for our members, which requires funding. What’s the difference between Time Tradeing and bartering? Time Tradeing is not bartering because: 1. It is not tied to a cash value 2. It is based on the currency of time, so one time dollar = 60 minutes 3. It is not generally an exchange, like barter, between two people but between a network of people. You may not earn and spend with the same person, you might, but you might not. 4. It is not a contractual agreement, but recognized as a friendly favor. I want to be more involved with Valley Time Trade. How can I do this? Exchanging services with other members is the easiest and best way to help VTT. We are always looking for members to help with organizing social events, fundraising, new member intake, community ambassadors, and clerical support. Talk to a coordinator if you are interested in being apart of any of these teams and earn time dollars as you help to keep Valley Time Trade sustainable! I want someone from Valley Time Trade to give a presentation at my community function. Who should I contact? Valley Time Trade coordinators can schedule speaking engagements when available; email membership@valleytimetrade.org to request this. We are always looking for members who are willing to be ambassadors to the community and represent us at these functions. Please contact us with other questions. Phone: 413-585-0373 E-mail: info@valleytimetrade.org http://www.valleytimetrade.org
Organizations Organizations can join Valley Time Trade as well. Organizations can spend Time Dollars by asking people to help with mailings, setting up, cleaning up, preparing for an event, helping at an event and more. Organizations can earn Time Dollars by giving an hour of service that you provide, a performance, an hour of computer instruction, a ticket to an event – possibilities are unlimited. Get in touch with us at info@valleytimetrade.org to talk further about possibilities, or fill out an organizational membership application (fill-in PDF). When You Want to Receive a Service: Find a member who can provide the service you’re looking for. Contact the member(s) in advance of when you need the service and agree on: date, time and location of service to be provided; the amount of time the member will spend providing the service as well as time spent traveling to and from where the service will be provided; parts, supplies or ingredients needed. The member who is receiving the service is responsible for paying for parts, supplies, or ingredients required to complete the service. You and the other member must decide which of you will provide tools, if they are needed. If your presence is required for the service, be sure to be there and on time. If you will be late, be sure to notify the other member as soon as possible; Then have the work done! Member Organizations (needs updating)
- APE Gallery http://www.apearts.org
- Brick House Community Center http://www.brickhousecommunity.org
- C3 http://www.c3northampton.org
- c-integral http://www.c-integral.org
- Class Action http://www.classism.org
- Coop Power http://www.cooppower.coop
- Evolvegan http://www.evolvegan.org
- Grow Food Northampton http://www.growfoodnorthampton.org
- Holyoke Tutoring/Mentoring Program http://www.holycham.com/tudor
- Northampton Community Television http://www.northamptontv.org
- Northampton Theater Collaborative northamptontheater@yahoo.com
- Pioneer Valley Local First http://www.pvLocalFirst.org
- SweatFree Communities http://www.sweatfree.org
- Temenos http://www.massretreats.com/temenos.html
- Transition Northampton http://transitionmassachusetts.ning.com/group/transitionnorthampton
- Turners Falls River Culture http://www.turnersfallsriverculture.org
- Valley Time Trade http://www.valleytimetrade.org
Governance A Core Group of interested members meets monthly to make policy decisions. We also have five committees: Events and Workshops, Membership, Administration, Tech, and Outreach. Members can earn time credits for serving on committees. Please consider joining one of these committees–it’s a great way to meet fellow time traders and to help Valley Time Trade. History Valley Time Trade’s initial policies were developed by people interested in strengthening community up and down the Pioneer Valley. This core group formed out of three open sessions, and created policies based on research into how other successful time banks were operating. Commonwealth Center for Change is serving as the fiscal sponsor for Valley Time Trade. Community Action, Pedal People, and Class Action are all organizations that have contributed to creating Valley Time Trade.
Open a pdf of the VTT Handbook from March 2010