Online Database of Complementary Currency Systems Worldwide


Complementary Currency Systems - Details

[group]Country
[text]t_ref,,United States[text] ([text]t_ref,,Common Good Credit System[text])

Common Goods

[text]t_ref,,Administrator Information[text]
[text]t_ref,,Name[text]William Spademan
[text]t_ref,,E-mail Address[text]info@commongoodbank.com
[text]t_ref,,Position / Job Title[text]Administrator
[text]t_ref,,First Language[text][text]t_ref,,English[text]
[text]t_ref,,Second Language[text][text]t_ref,,French[text]
[text]t_ref,,Organization[text]Common Good Bank
[text]t_ref,,Type[text][text]t_ref,,Community-Based Organization (Unregistered)[text]
[text]t_ref,,URL Address[text]commongoodbank.com/localcurrency
[text]t_ref,,Exchange System Information[text]
[text]t_ref,,Status[text][text]t_ref,,Operating[text]
[text]t_ref,,Community[text]Western Franklin County Massachusetts
[text]t_ref,,Medium of Exchange[text][text]t_ref,,Check, Member Card, Telephone, or Internet[text]
[text]t_ref,,Unit of Value[text][text]t_ref,,Units of Commodity / Resource[text]
[text]t_ref,,Valuation[text][text]t_ref,,Contract Agreement to Accept Currency[text]
[text]t_ref,,Cost-Recovery Mechanism[text]
  1. [text]t_ref,,FREE - No Charge[text]
  2. [text]t_ref,,Positive Interest on loans in local currency[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,,Economic Justice[text]
[text]t_ref,,Population of Area Served by System[text]12,000
[text]t_ref,,Main Goods and Services Traded[text]
  1. Same as in the society at large.
[text]t_ref,,Additional Information[text]

This system is schedule to start in 2009. It will be a costfree, laborfree, interest-free, inflation-free complementary currency, benchmarked against the U.S. dollar, managed by a state-chartered community savings bank dedicated to the common good. Members of the bank participate effortlessly, without conscious awareness: for example, when one member writes a check to another member, as much of that transaction as possible is conducted in the complementary currency, the rest in dollars.

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Complementary Currency Resource Center
www.complementarycurrency.org