Community Dollars

Columbia Community Dollars communitydollars.ca

Why local currency? Keeps money in our communities Increases overall spending power Increases local business revenue Encourages collaboration Brings us together to build a stronger, more resilient Basin economy

Why the Community Way model? Building on success. This system has been successfully running in the Comox Valley since 2008. Created by Michael Linton, designer of the LETSystem, who is mentoring the Columbia Community Dollar Development Group. Built-in mechanism to ensure sustainability Based on Open Money principles

Open Money We believe that the problems that come from conventional money can be resolved with open money systems. Where conventional money is scarce and expensive, the new money is sufficient and free. Where conventional money is created by central banks, new money is issued by us, as promises to redeem - our money is our word. Where conventional money flows erratically in and out of our communities, creating dependencies that are harmful to the economy, society and nature, the new complementary money re-circulates, enabling business and trade.

Open Money (Community Way)The Community Dollars Development Group consists of community currency advocates from throughout B.C..

Where is this happening? Launched initially in: ,[object Object]

NelsonOther Basin communities have expressed interest, including: Invermere, Cranbrook, Kaslo, Creston, Rossland, Nakusp and Valemount. Eventually, Community Dollars will be Basin-wide!

The Money C$1 = CDN$1 Features images of local mountains and wildlife from local photographers Includes security features C$250,000 will be available April 2011 Valid at participating businesses in communities throughout the Basin

Creating the money Businesses issuethe currency by making a donation in C$ to a community group(s) of their choice We recommend that businesses donate C$1000 per FTE, plus a one-time 10% administration fee ,[object Object]

No hard cash has changed hands at this point.,[object Object]

What percentage to accept? Every business has different operating margins, and the % of C$ they can accept, and on what products, is at the discretion of the business Businesses should ensure that all applicable tax and overhead costs are covered in CDN$. ,[object Object]

If necessary, certain low-margin goods or services may be excluded altogether.,[object Object]

Receiving the money Any community group – be it a local charity, a school, a sports team, a non-profit or community event planning committee can register They will be the first beneficiaries of C$ Active community groups may solicit donations from businesses in C$, rather than CAD$ C$ may be withdrawn from accounts by visiting Change Agents

Moving the money Community Groups C$ makes it easier than ever to raise funds locally Community groups can then: Spend C$ at participating businesses Reward volunteers with C$ to thank them for their time and commitment, and top up staff salaries or offer bonuses Exchange C$ for CAD$ with the public

Moving the money Businesses There are many way Local Businesses can move Community Dollars including: ,[object Object]

Offer C$ as change to customers

Re-donate C$ to another community group

Employ local people to do things your business needs: that new paint job, a professional website, a snazzy new logo

Reward staff by offering them bonuses or top up salaries in C$,[object Object]

Community Dollars

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