Timebanking Core

Time-Based Mutual Service Exchanges

Timebanking is a mutual credit system where the unit of currency is the hour of service. The Time-Banking Exchange (shown for time-banking and caregiver cooperatives) records service exchanges between members and keeps each member's hour balance.

1. Hour Balances

Each member's balance is the hours they have provided minus the hours they have received, built from the exchange history. One hour of service always equals one hour of credit, regardless of task complexity, which codifies the core principle of timebanking.

2. Logging Service Exchanges

When Member A performs 2 hours of yard work for Member B, a coordinator with operations access logs the exchange:

1. Record the Exchange: Select the provider (A), the receiver (B), the hours, and a description of the service.
2. Confirm with Both Members: The exchange is posted immediately, so check the details with both members before logging it.
3. Time Posting: B's balance goes down by 2 hours and A's goes up by 2 hours.

3. Balances & Conversions

To keep the exchange working:

• Negative Balances: Members may receive care before they have provided any, so balances can go below zero. OwnFold does not enforce an overdraft cap; set and monitor a limit in your co-op's policies.
• Converting Hours to Equity: An administrator can convert hours a member has earned into capital account equity at a chosen dollar rate per hour. Only hours actually on hand can be converted, and the conversion appears in the member's Member Ledger history.