philo beddoe
16th June 2010, 11:23 AM
http://en.wikipedia.org/wiki/BerkShares
interesting
How it works
BerkShares are a local currency designed and issued for the Berkshire region of Massachusetts. According to the BerkShares website,[6] residents purchase BerkShares at 95 cents on the dollar from one of twelve branches of five local participating banks. Businesses then accept BerkShares at full dollar value, differentiating the business as one supporting the BerkShares values' of local economy, ecology, sustainability, and community, and creating a five percent discount incentive for those using the currency. BerkShares can then be used by accepting businesses to purchase goods and services from other participating businesses, make change, pay salaries, or support local non-profits, increasing the local economic multiplier effect and keeping value recirculating in the region. If businesses have an excess of BerkShares, they may also be returned to a participating bank for an equivalent of 95 cents per BerkShare.
Over 70 area non-profits currently accept BerkShares for donations. Participating banks provide BerkShares with 13 brick-and-mortar offices where residents can exchange dollars for BerkShares and receive more information on the project.
interesting
How it works
BerkShares are a local currency designed and issued for the Berkshire region of Massachusetts. According to the BerkShares website,[6] residents purchase BerkShares at 95 cents on the dollar from one of twelve branches of five local participating banks. Businesses then accept BerkShares at full dollar value, differentiating the business as one supporting the BerkShares values' of local economy, ecology, sustainability, and community, and creating a five percent discount incentive for those using the currency. BerkShares can then be used by accepting businesses to purchase goods and services from other participating businesses, make change, pay salaries, or support local non-profits, increasing the local economic multiplier effect and keeping value recirculating in the region. If businesses have an excess of BerkShares, they may also be returned to a participating bank for an equivalent of 95 cents per BerkShare.
Over 70 area non-profits currently accept BerkShares for donations. Participating banks provide BerkShares with 13 brick-and-mortar offices where residents can exchange dollars for BerkShares and receive more information on the project.