Online Database of Complementary Currency Systems Worldwide

Complementary Currency Systems - Details

[text]t_ref,,United States[text] ([text]t_ref,,Voucher Currency System[text])

BerkShares, Inc.

[text]t_ref,,Administrator Information[text]
[text]t_ref,,Name[text]Chris Lindstrom
[text]t_ref,,E-mail Address[text]
[text]t_ref,,Position / Job Title[text]Treasurer
[text]t_ref,,First Language[text][text]t_ref,,English[text]
[text]t_ref,,Organization[text]Berkshares, Inc.
[text]t_ref,,Type[text][text]t_ref,,Non-Government Organization (Registered)[text]
[text]t_ref,,URL Address[text]
[text]t_ref,,Exchange System Information[text]
[text]t_ref,,City / Urban Area[text]Great Barrington
[text]t_ref,,Medium of Exchange[text][text]t_ref,,Notes / Bills[text]
[text]t_ref,,Unit of Value[text][text]t_ref,,Units of National Currency Equivalent[text]
[text]t_ref,,Valuation[text][text]t_ref,,Convertible for National Currency[text]
[text]t_ref,,Cost-Recovery Mechanism[text]
  1. [text]t_ref,,Charitable granting[text]
  2. [text]t_ref,,Have Not Decided Yet[text]
[text]t_ref,,Source of Funding[text][text]t_ref,,External Funding[text]
[text]t_ref,,Purpose for Establishing System[text][text]t_ref,,All reasons[text]
[text]t_ref,,Year the System was Started[text]2006
[text]t_ref,,Size of Membership[text]300
[text]t_ref,,Population of Area Served by System[text]25,000
[text]t_ref,,Estimated Yearly Operating Budget[text]

[text]t_ref,,National Currency[text]: 120,000 USD (120,000 [data]d_ref,,MAIN_CURR[data])

[text]t_ref,,Main Goods and Services Traded[text]
  1. Food, Restaurants
  2. Copy shop
[text]t_ref,,Additional Information[text]

Launched September 29th, 2006. Recieved a $65,000 grant from a private donors circle. We have partnered with the Southern Berkshire Chamber of Commerce, and four local banks. The Chamber is a major promoter of the currency. The way the program works is that citizens exchange Dollars for Berkshares, 90 cents on the dollar. So you can go to any of the five participating bank branches and receive 100 Berkshares for 90 dollars. Berkshares can be spent amongst approximately (as of November of 2006) 180 local businesses. Our current program will last for a year in which the currency will be called in and then re-launched after a thorough look at the program and with any necessary changes. Currently we are having issues with the 10% discount which is a bit too large for a few of the businesses, mainly food markets. Our conclusion around this is that when setting up a local currency one has to be thoroughly immersed in monitoring the type of business that joins. There must be three assessments made about that business which will prevent problems from occuring later on. 1) What is there trade volume? 2) what is their margin of profit? and 3) what percentage of their expenses is local or within the association of businesses and individuals who accept the currency?

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