The Bournville Time Bank
What is a Time Bank?
A Time Bank enables the exchange of services between individuals and organisations for the benefit of the community and those who are a part of it.
Time banks don't use money, instead, they encourage people to make deposits and withdrawals of their time. One hour of your time entitles you to an hour of someone else's time. One hour equals one time credit.
Credits are deposited centrally in a Time Bank and withdrawn when you need help yourself. Unlike a real bank, there are no penalties for being in debit; all that is asked is that when your skills are called upon, you give back by providing a service for another member of the time bank. Almost everybody, young or old, has something to offer, from making supportive phone calls to neighbours, to running small errands. Most importantly, everyone's time is worth the same.
Time banks operate with four core values: people are assets - the real wealth of any society is its people; redefining work - all valuable activities have to be rewarded and counted as real work; Reciprocity - giving and receiving are the basic building blocks of social relationships and healthy communities; social capital - belonging to a community gives our lives more meaning and offers us more opportunities.
Funding
The Bournville Time Bank is funded by Bournville Village Trust, Birmingham City Council, Big Lottery, European Union and Community Networking. http://www.timebanks.co.uk is the Time Bank umbrella organisation.
