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Time Banks UK, the national umbrella charity for time banking in the UK, is looking for sponsorship for its national conference next year in Cardiff. TBUK helps individuals, organisations and communities to set up and run their own time banks and provides support to them.
In the conventional market economy, money drives transactions. But alongside this is the non-market economy which is mostly taken for granted - even though it is a vital support network in the form of family, friends, neighbours and community.
Time banking is based on an exchange: every hour spent helping someone earns a time credit. Everyone's time is valued equally and one hour always equals one credit regardless of the skills offered. Time credits act as community loyalty points for the time and energy spent helping out locally. Time banking helps build back the sense of community and engages people who have become socially isolated for whatever reason. It draws people together and rewards them for being part of a vibrant social network.
All this is done through the services of a timebroker who matches people up and keeps a record of the exchanges as well as sorting out references, insurance and police checks for those working with vulnerable people.
