South Cambridgeshire District Council held an informative Timebanking event at South Cambs Hall, our office in Cambourne. The event was open to all Parish Councils, and multiple representatives from at least 12 villages were there. This shows the growing appetite for Timebanking in our area. The Council has agreed to closely support two villages during their efforts to get time banks up and running in their communities. We will also offer assistance and direction to any other communities wanting to implement a Time bank.
Timebanking is an exchange-based work trading system in which hours are the currency. A person with one skill set can bank and trade hours of work for equal hours of work in another skill set instead of paying or being paid for services. Everyone's time is equal, irrespective of whatever they choose to exchange.
Timebanking also helps to build social networks of people who give and receive support from each other, enabling those from different backgrounds, who may not otherwise meet, to come together and form connections and friendships. Generating 'social capital' in this way can be important to peoples' health, wellbeing and resilience and can prevent ‘needs’ from arising.
Timebanking can also help tackle loneliness and isolation. It is estimated that up to 3,840 people aged 65 and above are lonely in South Cambridgeshire, and similar numbers are also socially isolated. Whilst loneliness and isolation are generally associated with older people, it can happen at any time in a person’s life. Time banking can create "real life" social networks within communities.
Two new Timebanks have been set up recently in Melbourn and Sawston, and are already hugely successful, with all sorts of time for time exchanges happening regularly.
If you think a Timebank could work in your Village, please contact us on the email address at the bottom of this page for further information and support.
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