The Rushey Green Time Bank

About Us

What is a Time Bank?

A Time Bank deals with an alternative currency - time; not money. For every hour you spend helping someone, you are entitled to an hour's help in return. It's about neighbours helping neighbours. Help can be in many forms - performing practical tasks, befriending someone, running errands, sharing food grown in the garden, etc.

How does it work?

Each person's time "credits" are credited to their "account" in the Time Bank. People can then withdraw time from their account when they would like help with something themselves. These transactions are done via a co-ordinator / broker who keeps all the accounts and matches people who want help, with someone who can help them. When the task is complete, the accounts will have a record of the number of hours traded by each person.

Why is it a good idea?

All tasks have equal value - an hour spent helping someone with computer skills is worth the same as an hour spent keeping an isolated person company, walking a dog, or helping someone fill in a form.

Everyone has something they enjoy doing and can offer.

Many people have time on their hands and want to contribute and be useful. They have skills and experience that go unrecognised and unrewarded. Time Banks value people, and their contributions, and encourage connections within communities and neighbourhoods. They alleviate isolation. As people start to help and get to know their neighbours, they rebuild a sense of trust, and start to feel that they are part of a community/neighbourhood again - they re-build community wealth, and health.

Organisations and community groups can also be members of a Time Bank. They can use Time Banks to trade skills, expertise, and additional hours of volunteer help when needed. Local authorities have used time credits to pay people to design and deliver local services. The Time Bank system is very flexible. People "in credit" can (if they would like to) donate their Time "money" to a friend, relative, neighbour - or to the Time Bank where it can then be given to someone who might need it.

Time Banks often involve people who would not normally volunteer - e.g. a housebound elderly person. In this system such a person could offer help by (for example) making regular phone calls to befriend someone in a similar situation. In the Time Bank system everyone is equal - everyone is both a giver and a receiver.

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CONGRATULATIONS!

Well done to all Time Bankers! We have just won the award for 'Outstanding Partnership Achievement with the NHS'.

Awarded by the London Health Commission 2008