A business backed local currency that provides funding for community projects and organizations. These Community Way dollars (cw$) circulate within the community, enabling more business and trade.

Merchant credits (dollars) that can be spent at participating businesses, at par, dollar for dollar, generally as a percentage of the sale price. For example, on a $20 meal, a restaurant would collect $10 in normal money and cw$10, plus taxes on the whole amount in normal money. Smart cards are the preferred method of payment.

Businesses issue them when they make substantial donations to community organizations of their choice. Their Community Way account is debited and the organizations’ accounts are credited. Businesses commit to redeeming the cw$ they issue.

Businesses issue them when they make substantial donations to community organizations of their choice. Their Community Way account is debited and the organizations’ accounts are credited. Businesses commit to redeeming the cw$ they issue.

Community organizations Your exchange of cw$ for Cdn $ directly funds community organizations and supports community economic development. Unlike Cdn $ which typically circulate 1.4 times within a community, local currencies remain to circulate over and over.

Participating businesses pay the Community Way project a registration fee in cw$. They also pay for the smart card equipment in cw$. The project exchanges the cw$ for Cdn$ with supporters of the Community Way programme.

Spend them with other businesses, pay staff bonuses, hire contractors, donate them.

When a business registers and makes cw$ donations to organizations and projects of their choice, a cw$ account is opened and debited the amount of the donation plus any fees and equipment charges. The community group and cw administration accounts are credited correspondingly.

Just like a regular bank account, any transactions cleared through the accounting service is credited and debited accordingly and statements produced on a regular basis. Accounts can be managed through a website by the owner of the account, just like online banking. To learn how, see http://www.openmoney.org/go/cc.html

The cw$ donation level is based on the capacity of the business to redeem them, usually around cw$1000 per full time worker (or equivalent). A 5 person business would donate cw$5000 to community organizations and projects of their choice.

A small business would pay about cw$800-1000 for registration. All payments are in cw$ – a business never parts with cash.

To accept cw$ at the advertised rate, usually a portion of any sale. If a business chooses to leave the program, it must redeem the amount of the current cw$ account debit balance.

Yes, Revenue Canada requires all taxes to be paid, just like with Cdn$.

Ask businesses to donate them.

Spend cw$ at any participating business, pay for unpaid staff time, top up wages, extend paid time, reward volunteers, and exchange them for Cdn$ with supporters.

The cw$ donations made by businesses are treated the same as Cdn$ donations and are receipted accordingly. Any cw$ wages paid to workers are considered taxable income.

By completing a community organization registration form online or delivering to the Comox Valley community currencies project, 719 6th Street, Courtenay. A cw$ account is opened with a null balance until cw$ donations are posted to the account.

All costs are covered by the participating businesses – there are no fees to community groups.