Unplugging from the big central "system" as far as banking, and no longer being vulnerable to hiccups in the national economy, sounds pretty good :)
It really does sound good and it merits exploration!
There are some aspects of this model that have the potential/risk to mirror communism so I do see flaws that will prevent this "as it stands" from becoming more mainstream.
Society and humans are very complicated and I suspect the value of this system depends heavily on the characteristics of the members of your community and how well you fit into that. I am eager to dive in and find out.
What skills are you going to offer to the time bank?
I agree that that's a fact from what I've seen in action. People tend to do it voluntarily on a small scale anyway; I've seen ongoing "you do my hair and nails for free, I'll babysit your kid" type arrangements, for example. But I've also seen cases where, say, one neighbor helpfully plows the street every time it snows and the other neighbors are content to enjoy his efforts without actively reciprocating. It will be interesting to see how well it's working in your area!
We aren't really part of a neighbourhood or community, where we live there isn't a community centre or gathering area and people are so wide spread. Some of them work two hours away so you never really meet.
I hope that this will help us meet some like minded people that live within a reasonable distance. :)
I'm still thinking about what we'll offer. Website work, computer help, canning/preserving classes, business consulting/proposal writing ... not sure.