TIMEBANKIT : model no.3

TIME BANK MODEL : ORGANISATIONAL TIME BANKING

Theory

• A mutual (open) credit system where credit exists between agencies
• Used to facilitate exchanges between organisations for mutual benefit and enhance use of scarce or under utilised resources

Practice

• Time bank can be established within an existing 'hub' or to set up a new network of organisations (may be based around a geographical area or a specific skill/activity)
• When an organisation joins the bank they list the resources and servies they have available and the type of help they would like to receive
• Exchanges are recorded by a 'broker' or network co-ordinator
• Type of exhanges are governed by what is available within the membership but likely to be both resources (e.g. an underused minibus) and skills (e.g. help with writing a funding proposal)

Factors for Success

• Supportive network of organisations with understanding of time banking
• Funding for a time bank co-ordinator, or lead organisation
• Particularly useful when organisations have underused resources
• Core group of local orgainsations with a variety of resources and needs
• Strong local community sector with a history of working together previously

Potential Problems

• Requires membership to be a range of organisations and resources in order to meet a variety of needs
• All organisations need to give and receive

Examples from London

Potentially: VAL's Health & Social Care Network

TIMEBANKIT : model no.2

TIMEBANK MODEL : AGENCY TO CLIENT (SPECIALIST TIME BANKING)

Theory

• A mutual (open) credit system, where credit exists between agency/organisation and person.
• Activities are themed, based around specialist skills of agency leading the time bank eg health or learning.

Practice

• Members earn credits for active engagement in community activities.
• Type of activity undertaken is linked to the organisation running the time bank (e.g. Groundwork running environmental clean-ups).
• Rewards reinforce the theme of the activity and make it possible for future learning and activity.
• Rewards are themed to compliment focus of work (e.g. Groundwork's focus on environmental work means that rewards might be a trip to Kew gardens).

Factors for success

• Community group keen to develop greater community working.
• Organisation able to secure/ provide suitable rewards.

Potential Problems

• Having a single themed activity may reduce appeal of time bank to wide range of members.
• Focus and funding of time banking organisation may actively exclude certain community members.
• organisations may encounter difficulties sourcing funding for 'rewards'.

Examples from London

• Whittington Time Exchange: based with a school, children earn time credits for playground duty, helping with school events, looking after the buddy benchg and the prayer room. Rewards can be cashed in for group trips e.g. picnic trip for children that is paid for in time credits.
• 'Y' Bank, Tower Hamlets: This project works with young people who learn new skills and earn rewards when undertaking environmental clearances in their local area.

TIMEBANKIT model no.1

TIMEBANK MODEL : NEIGHBOUR TO NEIGHBOUR

Theory

• A mutual (open) credit system where credit only exists between individuals
• Exchanges take place between individuals initially set up by a central hub
• Facillitates acts of neighbourliness between individuals

Practice

• Time bank often established as a project within a 'host organisation'
• When an individual joins the bank they are asked to list the skills they can share and the skills they would like to receive
• Exchanges are co-ordinated and recorded by a broker
• Type of exchanges is governed by skills available within the membership
• Projedct is evaluated by number of time bank members, number of exchanges taking place

Factors for Success

• Supportive host with organisation-wide understanding of time banking
• Funding for a time bank brokeer and project manager
• Core group of local supporters
• Visible location (e.g. shop front)
• Clear definition and understanding of project area (geographically & operationally)
• Links to local community sector

Potential Problems

• Essential to avoid over-reliance on the broker by members when setting up exchanges and activities. Broker encourages set-up of 'kitchen cabinet' of members to run activities.
• Important to ensure that the time bank is embedded within the organisation and able to extend/improve existing activites as well as developing new ones.
• Important to have sufficient resources to manage the adminstration of 1-to-1 exchanges.

Examples from London

• Rushey Green Time Bank: launched in 2000 this project is housed within a doctor's surgery, although it is an independent registered charity.