Businesses issue cw$ through contributions to local community organisations, then accept them in exchange for goods or service.
Beneficiaries spend the cw$ or exchange it with their networks.
People support local economy while helping community service organisations.
How exactly does it work?
Community Way dollars (cw$) are a means of exchanging freely between members of a community (Customers), community-based Businesses and Non-Profit Organizations.
- Businesses within the community donate cw$ to a non-profit organization within their community.
- Non-profit organizations can then exchange their cw$ with supporters for Canadian $, giving them funds to operate.
- Supporters receive a 1:1 exchange paid in cw$.
- cw$ can be used to purchase goods and services at participating businesses within the community, who accept at terms they set – for instance 50% on food in a restaurant.
- A business earning cw$ can then spend them with another contributing business, or donate them back to another non-profit organization, or top up staff bonuses.
This cycle allows businesses to reach new customers who are looking to spend their cw$, and allows businesses to support community programs without direct cash costs.
Additionally, there are a variety of ways in which a Customer can receive cw$. The end result will always be money in a Customer‘s pocket that is ready to be spent with a community-based Business, which then continues the cycle.
Some of the ways that a Customer could receive cw$ are:
- As payment for volunteer work with a Non-Profit Organization.
- As a 1:1 exchange on a donation to a Non-Profit Organization.
- As payment for personal goods a Customer may be selling (via CraigsList, etc).
- As a ‘bonus’ from a Business employer.
Which businesses are involved?
Which community organisations are involved?