I’d like to clarify a few details included in last weeks article about Community Dollars. Columbia Community Dollar (CC$) is a local currency which is also a loyalty program for businesses, a fund raising strategy for community groups, and a community builder for individuals. It is without debt or interest, which was the original intention behind currency.
Businesses do not purchase community dollars, as stated in the article. Community Dollars are created when a business donates CC$ to a charitable organization of their choice. Their donation becomes an agreement that the business will accept Columbia Community Dollars (CC$) as full or partial payment from customers.
In return, community organization receives the community dollars, which it can offer community members in exchange for Canadian dollars on a dollar per dollar exchange. They can also spend their CC$ at participating businesses and give bonuses to staff and/or volunteers.
Individuals earn CC$ through volunteer work, as bonuses from their employer or receive CC$ in exchange for their Canadian dollars donation to a community group. Individuals can use their CC$ to pay for goods and services at participating local businesses, or trade them other community members. Businesses can then use the Columbia Community Dollars earned to pay for goods and services, give staff bonuses and/or make more donations to community groups.
CC$ will be available online and in hard cash in participating communities in the Columbia Basin as of April, 2011. Your artwork could be included on the Fernie $20 bill, your original artwork can be submitted till 31 Jan 2011.
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