Time Banking

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Launch Oak House - March 2010
United Welsh launched a new Time Banking scheme at our Oak House hostel in Cardiff on the 3^rd March.  This is a new initiative to support residents get more involved in the hostel and the wider community.   It is the first of the time banks to be set up at United Welsh, and we will be developing the scheme wider and involving more tenants from May onwards. 

Time Banking is an innovative approach that supports people to give their time to build stronger communities.  Time Bank members can volunteer their time through a range of projects and activities that build on their skills and interests.   Members then receive Time Credits for each hour they volunteer, which can be used to access local events and services provided by United Welsh and our partners.  Partners already signed up to support the scheme include Cardiff Council Leisure Services, Boulders Rock Climbing and the Gate Arts Centre.   

The Time Banking scheme has been set up with the active involvement of United Welsh residents and staff to ensure it engages as many people as possible.  The development of time banking at United Welsh is a partnership project with Spice Innovations - a social enterprise specialising in supporting the time banking approach with housing associations, and other public service organisations.

About Time Banking

Building stronger communities
Time Banking values the time people give to support public service organisations (such as social landlords) in the development and transformation of their communities.  In this approach, people can earn time credits for time they actively contribute to a menu of activities – “Time In”. The time credits earned can be exchanged for local services, events and training – “Time Out”.

Deepening engagement
The menu of ways people can earn time credits (Time In) is developed with the active participation of those involved.  This ensures opportunities are meaningful, interesting and accessible.  This can include both core tenant participation (e.g. tenants and residents groups, forums and surveys) and community programmes (e.g. organising community events arts projects). 

Time credits can be exchanged for a menu of leisure and recreation services, participation in events and trips, and training (Time Out).  These represent ‘spare or under-used capacity’ offered by a range of providers and enable Time Banking to remain low cost and sustainable.  

Developing this menu with a range of organisations creates and deepens existing partnerships between the housing association and a range of community organisations, local government and businesses. 

Community wellbeing
By enabling people to take part in a menu of stimulating and engaging activities, Time Banking creates a positive kudos to participation, enabling housing associations to engage with a much more diverse group of tenants. By developing participation the approach has the following outcomes, contributing to community wellbeing:

• Representative decision-making structures.

• Increased tenant and resident involvement in community projects.

• Increased levels of confidence and self sufficiency of tenants.

• Improvements in wellbeing and community safety.

• Increased capacity of community to tackle local issues.

• Reduced dependency and happier tenants.