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What is Community (Social) Economy? All over the world people, communities and business deal with the same circumstances. Money comes and money goes. Income can be variable because of the expenses which can be steady, can rise, or can decline. The communities have money coming in, from exported goods, from tourists and from government. They also have money going out, for imports and for taxes. When the money is spent, it leaves the community, and there is no guarantee on when or how much will return. The local economy depends on money circulating in the community. If expenditures are greater than income, then the community will run short. This means that there is less money to trade both within and outside the community. Less money means that there will be also less business, fewer jobs, less co-operation, fewer social services, less security and less investment. It also means more business failures, more unemployment, more poverty, more competition, more social distress and more crime. Needs remain unfulfilled even when there is a surplus of resources, both commercial over-capacity and personal under-employment. Simply because there is not enough money. In today’s economy, with greater mobility of capital, communities will have to discover new means if they are going to prosper. Accumulation of conventional money leads to extremely destructive processes in the world's economy. In the conditions of political instability, the national economy becomes uncontrolled because of strong changes in prices for raw material resources and food products. The System "Time Banking" supports local, regional production and consumption fields, and thus gives an opportunity to the community to withstand inflation and recession. RES "TB" is not an alternative to the national economy; it’s a powerful innovative supplement to the national currency, perfectly adjusted to the needs at the local level and to the market. This is an instrument of the Community (social) economy which supreme goal is to maximize the common welfare (what is good for a person must be good for the others as well – for his/her family, colleagues, society, Nature. And vice versa.) Community economy is based on the cooperation, mutual help and joint responsibility of the people living in the same territory.

For whom is the RES "TB" designed, and what for is it necessary? Regional Exchange System "Time Banking" (RES "TB") was created for those people and their communities, enterprises, institutions and organizations who are not indifferent to the world around them, to the environment in which they live or are located, to the territory where they spend most of their time and life. It's for the people who have free time and desire to fulfill themselves, providing necessary help to others and receiving what they need in return.

What is Regional Exchange System "Time Banking"? It is a register (database) of all System Participants with their offers, needs and contacts for communication. The system supports the electronic accounts of Participants of RES "TB" and allows to operate a personal account through electronic facilities (mobile phone or Internet), using one’s personal Login in the System, and gives access to all exchange transactions and to the balance of the account in the form of the account statement.

What can I offer for exchange and what can I get in return? You can offer for exchange any things, products or services which you have available or which you can provide, i.e. you have experience, skills, knowledge and you are ready to share them with other Participants of the System. You give some products or a few hours of your free time, when it’s convenient for you, doing things you like to do. You can receive in exchange any services, things, or products you need. You get a chance to receive the help for yourself, when you need it. You are taking pleasure in helping to make a life of someone else better. All the Participants of RES "TB" are doing the same, that’s why there are always many talents which you can count on, if you need anything. You can find a more detailed information on the offers and needs of the Participants of RES "TB" in the section "System offers".

Who can become a Participant of the Regional Exchange System "Time Banking"? Any people, having reached the age of 14 years and older, without upper age limit, without social status limit, of any religion, nationality, etc., as well as private entrepreneurs, enterprises, organizations and institutions, irrespective of their form of ownership, can become official Participants of RES "TB". Age, capabilities, lack of money or limited mobility are not an obstacle for participation in RES "TB".

How to become a Participant of the Regional Exchange System "Time Banking"? You need to come to the nearest office of RES "TB" with the following documents: 1. If you are a physical person, you need to bring your passport and your identification code (for those who have one). 2. If you are a private entrepreneur, you need to have your passport, your identification code, the Certificate of State Registration, the Certificate of Single Tax Payer or the Certificate of VAT Payer. 3. If you are an enterprise, you need to have the Certificate of State Registration, the certificate of incorporation into the USREOU (Unified State Register of Enterprises and Organizations of Ukraine), the Tax Registration Certificate (on Form 4-OPP), and the Certificate of Single Tax Payer or the Certificate of VAT Payer. After that you have: - to fill in the Application Form where you should specify what you offer to other Participants and what you need; - to sign the Agreement of the Participant of RES "TB"; - to pay the admission fee; - to receive the card of the Participant and the Instruction how to work in the RES "TB", as well as the personal Login and Password for access into the System. Your personal account in the System and your personal page in the database of RES "TB", with the information from your Application Form, will be created for you. You don’t need to put any money into your account.

How can I get "Points" for exchange into my account, if I haven't put any money into it? You are earning them, providing other Participants of the System with your products or services. If your first exchange transaction in the System is the transfer of products or services you offer to the Recipient, then the Recipient transfers Points he has to your account for the products or services he received from you, thus increasing the balance of your account for the amount of mutual exchange in Points. All new Participants of the System start exchange in it with zero-balance accounts. That’s why if your first exchange transaction in the System involves receiving of the products or services you need from the Benefactor, then you have an opportunity to receive the products or services you need on credit. This is possible on condition that you will discharge your debt by the products or services offered by you. In case of impossibility to settle your debt with your products or services, you shall agree to settle it with services or work offered by the System.

How is the exchange in the Regional Exchange System "Time Banking" done? If you’re acting as Benefactor (the side, offering products or services), then you search for a Recipient (the second side which needs your products or services) in the database of RES "TB". After you have found him/her and come to an agreement on the exchange, you give the Recipient the products or services he/she needs, and in return the Recipient makes the transfer of the Points from his/her account in the System to your account for the products or services received from you – by sending SMS-message from the mobile phone, or over the Internet, or with the help of the Operator of the System. Upon that, your account will be automatically increased in Points, by means of the software, for the amount of the transaction, and the account of the Recipient will be reduced for the same amount. If you’re acting as Recipient (the side which needs products or services), then you search for a Benefactor (the second side, offering products or services you need) in the database of RES "TB". After you have found him/her and come to an agreement on the exchange, you receive the products or services you need, and in return you make the transfer of the Points from your account in the System to the account of the Benefactor you received the products or services from – by sending SMS-message from the mobile phone, or over the Internet, or with the help of the Operator of the System. Upon that, the account of the Benefactor, who gave you the products or services, will be automatically increased in Points, by means of the software, for the amount of the transaction, and your account will be reduced for the same amount.

What shall I do if I can’t enter the System? If you are not a Participant of the System, you need to register in RES "TB", having applied to the nearest office of "Time Banking". You can find the information about the representative offices of RES "TB" in your region on this website in the section "Contacts". If you are the Participant of the System, you must have your Login and Password for entrance into the System. Please make sure that all the symbols of your access codes into the System are typed correctly. A special attention should be paid to the layout and case of the keyboard, this means the language in which you enter the symbols, and which letters are capital in your Login and Password and which are not. If you can, please check your Status in the System sending an SMS-request for your Balance in the System. If you are in the Stop List according to your Status, then you can’t enter the System. Please contact the Operator of your local System of RES "TB" to clear up the questions you have.

Through which mobile phone providers can I operate my account in the System? Participants of RES “TB” can operate their accounts (make transactions and check balance) in the System through mobile phones of national cell providers: MTS, Kievstar and Life.

What Complementary Systems exist, and which of them RES TB relates to? Nowadays there are more than 2500 different Complementary Systems in the world. However, we can distinguish three types which are based on mutual credits (mutual help): 1. Time Banks (TB). The easiest Complementary Systems to organize. The records of mutual exchange are kept in hours. The exchange operations are written down as correspondence of Credit and Debit on the accounts of the Participants of Exchange. In such systems it is accepted that the work (services) of different complexity are equal. That’s why when the earned hours are exchanged between the participants, only the time consumed is taken into consideration. The disadvantages of TB systems are: it’s difficult to keep records of the work (services) of different complexity; one can exchange only services; it’s not possible to exchange products. 2. Local Exchange Trade Systems (LETS). The records of mutual exchange are kept in internal accounting units which are pegged to national currency or other equivalent accepted in the society. This allows to define the value of the goods and services in the system easily. The exchange operations are written down as correspondence of Credit and Debit on the accounts of two Participants of Exchange. The disadvantages: lack of control elements in the system (taxes, commissions, fines) which leads to accumulation of accounting units and reduction of goods exchange operations; there is no source of social help to low-income, unprotected population. 3. Robust Complementary Community Currency Systems (ROCS). The newest modern systems which complement and combine the features of other system types. This systems are organized to solve two problems: compensation of national currency deficit and elimination of internal errors (disadvantages) of previous systems. The records of mutual exchange can be kept both in hours and in internal accounting units. Internal accounting units may be pegged to national currency, and the value of man-hour in the system has a certain floor which allows to make an appropriate assessment of the work of different complexity as well as to identify easily the value of goods and services offered for exchange. Besides, the stimulating methods are applied in such systems. This leads to the increase of exchange operations and involves more participants into the exchange. Internal accounting units are also re-allocated for the social needs of the Participants of the System and among the unprotected population requiring help of the society. The Regional Exchange System “Time Banking” relates to ROCSystems as it’s a Robust Complementary Community Currency System, is developed with account taken of international experience and recommendations and combines all the above-mentioned features. The Regional Exchange System “Time Banking” is an instrument of the Community (social) Economy.

For a more detailed information please contact the Regional Exchange System «Time Banking».