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Brick City Bucks

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Administrator Information
Name Todd Hoffman
E-mail Address toddhoffman2014@gmail.com
Position / Job Title Project Administrator
First Language English
Organization Newark Renaissance
Organization Type Private Enterprise
URL Address newarkrenaissance.com/
Currency System Information
Status Operating
Year the System was Started 2014
Community Greater Newark Region
City / Urban Area Newark, NJ
Country United States
URL Address brickcitybucks.net
Medium of Exchange Member Card
Unit of Value Units of National Currency Equivalent
Valuation Convertible for National Currency
Cost-Recovery Mechanism
  1. Account Administration Fee
  2. Account Opening / Joining Fee
  3. Liquidity Tax / Circulation Incentive / Demurrage
Source of Funding No Funding
Purpose for Establishing System All reasons
Additional Information

ABOUT BRICK CITY BUCKS

While most local currencies are physical - either printed scrip or minted coins - Brick City Bucks rely on plastic, which gives them more purchasing power than having to haul around bills or change. They’re Visa debit cards based on bank accounts at the local community bank (City National Bank {CNB}).

The cards can be used anywhere that debit cards are accepted, but when they’re spent at participating Greater Newark Region merchants, consumers get 5 percent back on their purchases to be applied to future neighborhood shopping trips - just like a frequent flier or rewards card. So for every $95 in Brick City Bucks they purchase to use at Joe’s Crab Shack or Prudential Arena, they receive $5 to spend at any other participating local merchant.

OUR MISSION

We are dedicated to strengthening the economic livelihood of our community. Originally with the Brick City Bucks Rewards, and now with the Local Currency Initiative, it provides incentives and systems to keep our money local.

The Brick City Bucks program is administered by Newark Renaissance, an organization founded and run by residents of Newark, NJ.

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Brick City Bucks

Brick City Bucks
Brick City Bucks Logo

 

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