Islington Tribune
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Islington Tribune - by ROISIN GADELRAB
Published: 12 June 2009

Colourful twist: Assanto Pjalo braids Karien Stroucken’s hair
Credit scheme banks on bartering skills

RECESSION-stricken visitors braved the weather to learn how to barter at Islington Time Bank Network’s festival on Saturday.
Members of the borough’s 600-strong time bank showed up at Chapel Market to demonstrate how to avoid spending cash by offering their skills in return for earning credits.
A manicurist, hairdressers, glass painters and musicians showed off their skills, while one man demonstrated how to grow your own food.
The food can then be exchanged with neighbours or credits can be earned and spent on watering other people’s plants.
Kaaren Morris of Upper Street time bank said: “The idea is to tell people what time banking is and encourage them to join so they can benefit from exchanging their skills with their neighbours. The reaction was very positive considering how terrible the weather was.”
She added: “One hour’s work equals one credit. You can then spend it on something else you need, for example help with a cv or guitar lessons. It’s been good for quite a long time but it’s even better now because of the recession.
“People are holding back from spending on unnecessary things like pampering but this way they can still have a massage or their hair done.
“It builds communities and trust.”

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Time Banks, Local Exchange Trading and paper community currency (Lewes, Totnes) are all catching on very fast. The U.S. also have about a dozen new local currencies this month.Community Currency Magazine MarkSkype IM 'digitalcurrency'
M. Herpel


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