LAKE COUNTY — Some people dream of an economy free from the constraints of money or a world that is not driven by the demand for a currency that is limited in its range of possibilities. A system that uses an alternative to legal tender might allow for a society that takes pride in the ability and willingness to help neighbors. The Time Bank of Lake County is introducing this type of supplemental economy.
The organization may offer a means for Lake County citizens to enhance relationships with neighbors and plant the seeds for a more fruitful engagement with their community.
The spotlight on the Lake County Time Bank starts with Donovan Beard, owner and operator of his own small business called The Organic Underground. Beard farms an organic vegetable garden and hand-raises chickens, goats and rabbits. From this he gets eggs, milk, and meat. Beard used the Time Bank to set up a transaction with Carol Cole-Lewis, founder of the Time Bank. Beard built some redwood planter boxes for Cole-Lewis” garden and helped her load them up to take home. With cost of the materials and time spent on labor, Beard valued his service at a worth of 12 Hours which Cole-Lewis paid by using the credits she earned as coordinator for the Time Bank.
Beard is a newer member of the time bank. He”s been active for about five months, which helps fuel his main source of income — The Organic Underground.
Participation helps to lower monetary costs of his business, Beard said. “Time-banking has helped me make some connections to sell and feature my products, and has just saved me money in operating my business.” He said in a previous transaction he garnered the use of a rototiller for two days and saved at least $100 in rental fees.
Beard also said it is refreshing in the world of business to have a “day where we don”t have to worry about money.” As for Cole-Lewis, she plans to use her new planters for purposes outside of her day job. She and her husband enjoy vegetable gardening in their downtime.
In time-banking, currency is measured in hours. One hour is equal to one hour of labor. Interactions are not just between two participants. Members of the time bank earn hours for their time spent performing a service for someone in the community. They then spend that credit receiving services from another member of the time bank. The time bank serves as a centralized means to keep track of the hours each member earns and uses.
The Lake County Time Bank was initiated in the fall of 2010 when Cole-Lewis and the late-Steve Elias were brainstorming the best way to introduce alternative currency into the area.
They wanted to use a system that was, above all, equitable and realistic is its application. Cole-Lewis said, “We determined time banking was the simplest, quickest and most effective means to start a local and complementary economy in Lake County. We are rich in time here in Lake County, so we thought we might as well find a way to make time work for us to solve our community problems.”
Members use the time bank system to arrange transactions because they are able to create a mutually fair trade. The trade between Beard and Cole-Lewis is one of the more specialized interactions that takes place through the time bank, as there was money involved with the cost of lumber. However, they were able to come to an agreement, which satisfied both parties. Transactions can also be as simple as trading manual labor on one project for a helping hand on another.
The time bank is a project of Thrive Lake County, which is a community organization that is fiscally sponsored by the nonprofit corporation North Coast Opportunities (NCO).
NCO allocated funding this year to help grow the time bank. Membership costs $20 or two hours. Hours can be earned by attending a meet-up. The next meet-up is on Aug. 10 from 10 a.m. to 2 p.m. at the Kelseyville Methodist/Unitarian Universalist Church located at 3810 Main St. in Kelseyville.
Visit timebanklakeco.org for information or call the office at 413-0220.
