Time Bank In Lefkas island is a network for exchanging services and knowledge (know-how) which was established by two volunteers in 2012 and is being supported by the NGO “Solidarity Tracks”.

A Time Bank is a alternative system to money and the capitalist foundations. It forms a network of mutual exchange of services and knowledge on the scale of a local community. Within its frame, all transaction is made based on the value “time”, thus excluding the monetary value.

Every member can offer some of his/her time, under the form of services with regard to his/her skills/competences. He/she is entitled to receivE other services, on a mutual basis, according to his/her needs and wishes.

A Time Bank relies on two fundamental principles :

The principle of parity of statuses

Every person has competences and knowledge proper to him/her. These competences and knowledge may be manual or intellectual. In our network, no hierarchical distinction is made among the offered services: they all have the same value and correspond to the same “time credit”.

For instance, one hour of babysitting offered for exchange is worth one hour for computer repair, offered for exchange too.


The principle of the reciprocity of the exchanges

Each and every member of the Time Bank’s network is both a seeker (demands services) and a supplier (offers his/her own services). In this way every member is entitled to asking another member for a service, but on a mutual basis, he/she has to offer another kind of service and stay at the other members’ disposal.


How does a Time Bank specifically work?

Every person wishing to enroll to Time Bank has firstly to put in for membership to the network and let know which service(s) he/she wishes to offer and which service(s) he/she wishes to get.
Every new member is given a “bank account”, where every service rendered or offered is registered under the form of “hours’ credit”. On the first inscription of some new member, the Time Bank offers one such hour for free in a view to make easier the exchanges.
The main advantage of Time Bank is that every account is both creditor and debitor to the bank, not only to the person who did him the service.


Here you have a real example:


Ms. Tom, who is retired with two hours of free time a week. She decides to subscribe to Time Bank in Lefkada (going to the Solidarity Tracks office or via Facebook page or internet site of Lefkada Time Bank). She gets an account and declares her time availability. To thank her for her subscribing the time bank offers her a first hour of time credit that she will use to start French language course. Afterwards, the Time Bank puts here in touch with Miss Rosa, a mother who is in need of a babysitter for some hours weekly. In return, Miss Rosa will offer two hours of her own to make errands for an elderly person who is unable to walk out of house. This way, Miss Tom will get a credit of two hours on her own account, which she will utilize by asking Alexio (who had also declared being available) to help her take care of her garden, and so on.


Who can be a member of the Lefkas’ Time Bank?

All the people can join this network, no matter which is their age or social standing. The only requirement is for him/her to be eager to share his/her time with the other members.


Why joinning Lefkada Time Bank?

From a general perspective, a Time Bank allows to reinforce the social cohesion of a community through the interpersonal exchange it boosts.

In fact, it allows us to imagine a society where the exchange of skills and knowledge is made without the mediation of money as a transaction means.

This new form of solidarity can promote the active participation of the citizen, the equal-to-equal exchange, the local sustainable development and the struggle against the exclusions.

Joining in Lefkas’ Time Bank means becoming member of a mutual aid network inside your community. This way the active attitude within this network will enable you to:

(Re)activate your neighborhood relation and enlarge then by new ones

Fulfill your needs or enrich your knowledge for free

Feel being a useful and integral part of your community


Time Bank terms and conditions

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