When the economy began to go south in 2008, Emily Rossier started to think about the meaning of money.
“A definition I came across had to do with linking human resources with human needs and I thought, why couldn’t we do something like that?” said the Troy resident.
She soon started researching the international phenomenon of Timebanks, a type of time sharing. The movement is meant to “promote equality and build caring community economies through inclusive exchange of time and talent,” according to the TimeBank USA website, and with the Internet as a tool, it’s an idea that’s picking up momentum locally.
In 2010, Rossier and a few others started putting that system into practice with their own software database, calling themselves Troy Shares. The group was formed and launched in just six months, and now has more that 150 members.
People from all over the Capital District have joined, but the majority of members live within Rensselaer County. The concept of a TimeBank is to use time as a form of currency. Members offer their talents to other members and their time spent helping out is then “banked” within their account. They can then used the banked time to seek the services of other members.
“There’s no reason work should stop in a community if there is a lack of the U.S. dollar,” said Rossier.
Kevin Jones has similar beliefs. Unable to work after a motorcycle accident left him disabled in 1991, the New Salem resident said he began to feel inadequate and wanted to do something to help the community using the talents he still had. He also needed help himself with several tasks, but didn’t have the money he needed.
After watching several videos about Timebanks on Youtube, he started the first TimeBank USA chapter in the Capital District.
“With today’s economy, we need a complimentary currency for people to put faith in,” he said.
Jones feels many involved in creating the country’s economy have forgotten about the humanity behind the dollar signs and thinks if people spend their own time helping others, it will everyone grow respect for one another.
Jones’ group has 40 members, but for the concept to work most efficiently a larger pool of talents is needed. Jones is now concentrating his recruiting in the Albany area, but encourages anyone within the greater Capital District to join.
Members can seek services like help around the home or within the community, transportation to appointments or business assistance. Others can offer to teach classes on their favorite hobbies, give tutoring lessons or provide animal care.
Rossier herself has used the group to find babysitters, get help with organizing and painting her house and has taken several yoga classes for free. In return, she has done things like given people rides to the train station and taught a class on soap making.
“I’m a single mom, so right now I’m in need of more help than others in terms of their life stage,” she said. “(Time sharing) values all work, even that which the community may have considered volunteer or looked down upon in the past.”
Jones said one local exchange within his group involved a member from Schenectady helping members from Greenwich baling hay on their farm. Other suggestions include helping someone move, caring for the elderly or volunteering with local charities. Any time spent helping the community can be “bankable.”
Each person keeps track of the “time” they have given or used through their bank account, as the program relies heavily through the honor system, said Jones. But disputes or complaints can be taken up with the administrator of each organization’s website so as to prevent unfairly using time members didn’t earn.
It is suggested each new member attend an orientation to learn about the group first, but anyone of any age can sign up because no money is changing hands.
Rossier said through Troy Shares, she has become more connected to her community and has used it as a tool to meet her neighbors. She called the new movement an “untapped resource” and said no one should think of it as extremist.
“The most extreme concept with Timebanking is everyone’s time is equal, but not everyone agrees with that,” she said.
Jones said people should think of these groups as having a larger pool of friends to call on in times of need.
“If you were going to call a friend for a favor, maybe have a few more friends than you had before,” he said.
To learn more, visit www.capitalregion.timebanks.org or www.troyshares.org.