Clapham Park Timebank

• A fiat (closed) credit system, with credits originating from the 'bank'
• The time banking tool addresses problems of under capacity and ensures that those people taking part are actively involved.

Practice

• The time bank is based withing an existing community centre
• Requires an initial time audit of centre and all activities that take place.
• Centre is able to introduce a dual finance system with people able to pay in time credits or cash for activities that they take part in (e.g. music concerts, theatre)
• Community members are encouraged to earn time credits in a variety of ways including assisting with the running and management of existing activities or developing their own community building projects.
• Value assigned to activities is based on number of hours they take (e.g. theatrical performance is 2 hours long so costs 2 credits)

Factors for success

• This model helps to establish local community centres as true community resources
• Can assist in building attendance for activities that are currently underused

Potential problems

• Requires an existing community centre
• Requires the buy in of existing community users (both individuals and projects)

Examples

Blangarw Working Mens Hall: This community centre based in the Welsh valleys host a variety of weekly and one-off activities all of which can be paid for with cash or time credits.

# posted by Clapham Park TimeBank @ 11:45 PM