Spice was founded in 2009 to spread the concept of ‘community time credits’, an adaptation of the time banking model developed by Dr. Edgar Cahn in the USA. Spice grew out of the work of the Wales Institute for Community Currencies in the former mining districts of South Wales, UK.
This is how they describe their work:
Time Credit systems work on a simple hour-for-hour basis: for every hour you give to your community you earn one Time Credit, which you can then spend on an activity of your choice. You can give time in ways that match your skills and interests, and spend your Time Credits with our diverse range of fantastic partners across the UK who offer everything from swimming to learning a language.
We develop Time Credit systems that value everyone’s time, no matter who they are. Time Credits open up new opportunities to try new things, learn, be healthier and have fun. We work with communities of all kinds, across many sectors. We’re passionate about the power within communities, and think that we’re better at solving problems when we work together. Our programmes embody exciting partnerships between individuals and the public, voluntary and private sectors.
Spice is currently running programs across the UK with local councils, community development organizations, housing associations, health and social care providers and schools.
It supports 27 time-based currencies in six regions of the UK. These currencies have supported 17,500 people in giving over 400,000 hours of their time. Hundreds of thousands of people have benefitted from the activities and services run by the 700+ organizations using Time Credits. Spice has signed up 350 corporate and public-sector venues to accept Time Credits, and built diverse networks from the corporate, community and public sectors in each of the localities where it works.
Bringing People Together Through Money? Community Currency and Local Exchanges