16 JAN 1999
Time Dollars or service credit banking has been in use in many places over the past twelve years, and we have a resource binder full of articles on the topic.
Time Dollars are volunteer hours recorded and accumulated to the credit of each volunteer. Volunteer hours are already recorded to the credit of agencies and programs. Time Dollars gives volunteers a sense of ownership and encourages more complete reporting.
What can Time Dollars be spent on? Most volunteers require no reward, but in cases of need, Time Dollars may be accepted in lieu of payment for classes, services or membership.
Time Dollars may also be applied in the traditional peer support network of neighborly assistance. The Adult Center may consider taking on the administration of such a network as the keynote service of the new Time Dollars system.
Some service agencies (example: Foodcare) require volunteer credits to qualify for their service. These services can be added to the list of what Time Dollars can be spent on.
Over time, we would hope to add to the number of places volunteers may earn and spend Time Dollars, developing a genuine economy. As in an economy, record-keeping may be decentralized, so the Adult Center does not have to commit to being a central bank for the whole community.
Application in stages. Proceed only when ready. Future stages can help motivate current application.
1. INVENTORY: Historical accounting of volunteer hours. Set up accounts for all volunteers. Send statements to all current and recent volunteers with an introduction to the Time Dollars concept.
2. INTERNAL TIME DOLLARS PROJECT: Invite current volunteers to regular discussions on what they'd like to see in the Time Dollars system now and in the future. Form an executive committee to develop and implement Time Dollars in Adult Center. Provide some Time Dollars spending or rewards.
2a. (Optional) INTERNAL SUB-PROJECTS: Divide volunteer accounts between Adult Center programs or projects. They'd earn credits in the project they work in, and could transfer credits to any project or program they wanted to support. This would have some influence on planning and budgeting, give volunteers something to do with their credits, and introduce the concepts of (1) transferable credits and (2) investment as an alternative to spending.
3. TRADITIONAL PEER SUPPORT NETWORK: A Time Dollars volunteer service exchange following existing models, usually seniors helping seniors, open to the whole community. This would require a matching database, phone presence, outreach and time recording.
4. WEB SITE DEVELOPMENT: A web site can take over some of the work of time recording and data entry on offers and needs. It can list current opportunities for earning and spending Time Dollars.
5. NETWORKING WITH OTHER AGENCIES:
Invite other agencies to join the Time Dollars system, to expand
the earning and spending options for volunteers, and build the
system into a viable economy. Adult Center could keep accounts
for other agencies to start, then charge for the service or show
them how to keep their own accounts. Each agency is responsible
for its own Time Dollars or volunteer credits, and can operate
independently. Credits are transferable, with inter-agency transfers
clearing as in a banking system. Agencies can lose credits and
go bankrupt if they are not contributing to the community.