VAN BUREN, Maine – April 1 was the official opening for the St. John Valley TimeBank in Van Buren. Time banking allows members to trade their skills for services they need. For each hour of time bank service provided, members earn an hour’s worth of an alternative currency called a “TimeBank Hour” which can be traded for services from other time bank members. Time bank hours have no monetary value, and every hour of service equates to an hour banked, regardless of the service’s market value.
The IRS has categorized time banks as a form of volunteerism and dies not tax or track time banks. organizers said.
The St. John Valley TimeBank is the sixth time bank in Maine with roughly 270 time banks throughout the United States.
To participate in the St. John Valley TimeBank, sign up at http://www.SJV.TimeBanks.org and list the services you’d like to provide others as well as the service you”d like to receive. Or, contact sponsoring organization GO-Van Buren at 207-868-5803 for information or sign up at Van Buren Public Library. A small annual fee is requested to participate in TimeBank.
The St. John Valley TimeBank is a project of GO-Van Buren, and an affiliate of TimeBanks USA. For information, call Eleanor Varley at 207-868-5803 or visit SJV.TimeBanks.org.