Time is money.

Benjamin Franklin authored this concept in 1748. In its most literal interpretation, it means people’s time can be worth just as much as what is in their wallet.

The city of Seymour is investing in this idea with its new initiative, the Seymour Shares TimeBank.

By becoming a member of the timebank, individuals, groups or organizations can fulfill requests from others for needed services and earn time credits, which they can then in turn spend on services they need.

A timebank can be compared to Jackson County United Way’s Day of Caring, where volunteers work to complete community service projects. But a timebank isn’t just one day. It’s always available.

Timebank members are free to choose what service they would like to offer or what service they would like to request. Some of the most asked for services in timebanks are transportation, minor home repair and computer assistance.

One hour of service, regardless of what it may be, earns one time credit. The system allows people to exchange their time and talents to benefit others and the community.

For example, John enjoys yard work and Sarah wants to tutor kids. Maybe Jenny needs help planting a garden or Steve wants to learn how to play an instrument. They can log onto the timebank, post their offers and requests and connect with people in their community.

Seymour Shares TimeBank has three main goals: Strengthen the fabric of the community, serve people and give them a means to serve and establish new relationships while meeting the real needs of community members.

Mayor Matt Nicholson announced the Seymour Shares TimeBank earlier this year during his State of the City address. He had read about timebanks and the benefits they can have on neighborhoods and communities.

“By using a timebank, people are making connections with others in the community, and it creates a cycle of giving back and helping our neighbors,” Nicholson said.

He tasked city employees Chad Keithley and January Rutherford with taking the lead on the project.

“We are excited to see what timebanking can do for our community,” Keithley said.

The Seymour Shares TimeBank also will hold events for its members throughout the year, including information sessions, meet-and-greet social gatherings and action days that will involve group projects.

Although you may have never heard of timebanks, they aren’t a new idea. In 1980, Edgar Cahn pioneered the movement of timebanking. Passionate about social justice, Cahn saw timebanks as a way to restore community and to recognize and reward civic engagement.

Timebanks operate under five core values.

The first value is asset, which is the idea that everyone has something of value to share with someone else.

Another core value to timebanks is to redefine work. There are some forms of work that money will not easily pay for, such as building strong families, revitalizing neighborhoods, making democracy work and advancing social justice. Time credits were designed to reward, recognize and honor that work.

Reciprocity is a core value that timebanks operate under because helping works as a two-way street, empowering everyone involved – the receiver as well as the giver.

Social networks are another core value for timebanks because community is built by sinking roots, building trust and creating networks. By using timebanking, a community can strengthen and support these activities.

Finally, respect is a core value for timebanks because timebanking fosters respect where people are in the moment, not where they could be at some future point.

To become a member of the Seymour Shares TimeBank visit seymourshares.timebanks.org and click on “Join.” There is no cost for membership. You can join as an individual, service club, church group, employee group, school team or club.

For questions or information or if you would like someone to speak to your group about how the timebank works, contact January Rutherford at [email protected].