Care Bank is a new initiative that allows volunteers to earn credits that can be exchanged for services within the local community, or gifted to people in need of support from i.e. a good neighbour or befriending scheme.
WRVS have been selected by the Royal Borough of Windsor and Maidenhead (RBWM) and the Cabinet Office to run Care Bank as a proof of concept scheme for one year.
Care Bank aims to establish whether or not communities can be incentivised to volunteer and support each other and the most vulnerable within their individual communities.
The Care Bank model:
- Encourages greater participation, particularly for groups who typically have lower than average volunteering rates
- Delivers positive benefits for those giving or receiving support
- Strengthens community ties and networks
- Delivers cost savings and other benefits for existing services in the area (from VCSE, private or public sectors)
Care Bank will be independently evaluated by Frontier Economics to assess how well it delivers against its objectives.
Nesta is providing a grant of £25,000 as a contribution towards the design and cost of the evaluation to ensure that its findings can be used across the sector. The Royal Borough of Windsor and Maidenhead and WRVS is also part funding the cost of the evaluation.