The tower had a space for a clock but due to a lack of funds one was never added.
Now a clock, which was once part of the now demolished St Luke's Church, in Cradley Heath, has found a new home at St Peter's following four years of community fundraising.
James Brookes, co-ordinator for the Cradley Heritage Clock project, said: "The clock was saved from being scrapped after St Luke's Church was demolished following its closure in 2014.
"The clock dial has now been installed in St Peter's Church, thanks to community fundraising and grants.
"Skilful clockmakers at the Cumbria Clock Company, together with The Platform Hire Centre in Dudley and Chapmans Electrical in Cradley Heath, have worked together on the practical installation work.
"It has cost more than £14,000 to restore the dial, to install it and pay for the chimes on the bells, which will be added in due course.
"Almost £9,000 of the money has been raised through concerts, minute sponsorship, teddy bear parachute jumps off the tower and public donations.
"To boost funds, grants have been obtained from Dudley Council Community Fund of £3,000 to restore the dial, £1,000 from the W A Cadbury Charitable Trust, £1,000 from the Owen Family Trust and £1,000 from Laslett's Trust to complete the installation.
"We are indebted to Robert Chapman for donating the electrical installation works and Kieron Williams for the use of the access platform.
"It has been a true community project run by members of the community and not just the church.
"Donations have been received from all over the country and some from the United States of America.
"We are most grateful to Stuart Morrison and George Edge, from Cumbria Clock Company, for their skills in the restoration of the dial and its installation and look forward to them returning in the next few months to install the chimes, which will turned off at night."
He said that the opportunity for people to sponsor a minute on the clock dial was being extended to raise funds for a new flagpole for the tower to replace the one removed many years ago.
People can also add their memories to a commemorative book which is to be produced at the end of the project.
More information about the project is available via the www.stpeterscradley.org/clock-just-a-minute website.