Time banking recognizes that everyone, even those defined as disadvantaged or vulnerable, has something worthwhile to contribute. Time banking values relationships that are forged through giving and receiving.
– “The New Wealth of Time: How Time Banking Helps People Build Better Public Services” by The New Economics Foundation
Time banking is an exchange system where people use time as the unit of exchange instead of money. When a person spends time on an activity that helps others, the person receives time credit equivalent to the time spent and when they need help themselves, they can use the time credits that they have accumulated.
The Hong Kong Sheng Kung Hui Tseung Kwan O Aged Care Complex (“SKH TKO Complex”) started a time bank pilot project in 2017 that successfully motivated the idle talents and human resources of the older population in the community. With the ageing population, it is particularly important to connect all older adults to a social support network enabling them to age healthily and gracefully in their neighborhood achieving empowerment and improvement in psychosocial wellbeing.
The D. H. Chen Foundation is therefore delighted to support the SKH TKO Complex on a three-year program between 2019 and 2022 entitled “Weaving of Wellness – Seniors Mutual Help Development Project” (“the WOW Project”). The WOW Project would substantially enrich the scope of the current one in North Tseung Kwan O through the unique time bank model and establish a time bank network for knowledge transfer and best practice sharing in Hong Kong.
To enable community members to stay healthy, wellness workshops integrating self-management tools, dietary and Chinese medicine knowledge are held for the interests of members.
Through the WOW Project, the Foundation hopes to enable self-help and mutual help in the community and, rebuild the supportive and friendly spirit in the neighborhood through leveraging the different talents of older adults so that we are striving toward a more compassionate society – the philanthropic philosophy of the Foundation.