Mountain Money
Mountain Money: Now Circulating
There’s been a buzz around town about a new kind of money: Mountain Money. Mountain Money (MoMo) is Saguache County’s local currency. It is tradable for the US dollar and accepted in over 20 businesses in the County.
Saguache County residents and visitors can obtain one MoMo for 95 cents at any of the three Saguache County Credit Union branches: Center, Crestone, and Moffat. One MoMo is then worth one US dollar at participating local businesses.
So far, county residents and business owners seem excited! New businesses are signing up almost daily. Currently, Mountain Money can be used to purchase groceries, enjoy a meal out, stock up on spirits, buy clothes, get your driveway or business parking lot plowed, purchase books, art, gifts, receive body work and more! Visit your local Saguache County Credit Union branch or www.scseed.org for an up to date list of participating businesses.
The amount of Mountain Money accepted varies from business to business. Some businesses may allow you to pay for your whole purchase in Mountain Money, while others might only accept 10% or $10 towards each purchase. Businesses are encouraged to only accept what they can circulate since one MoMo is redeemable back for 95 cents. The idea is to keep Mountain Money circulating, spreading wealth throughout the community.
Imagine our local economy as a bucket. Every time money enters the economy, the bucket gets a littler fuller. Every time money leaves the economy, to purchase goods or services, a hole forms in the bucket and money starts leaking out. However, when we spend money in the community, the money stays inside and circulates from business to business. The more the money circulates, the stronger our economy becomes. The wealth is shared and opportunities arise for more local employment.
There are thousands of local currencies around the world, all working to support local economies. Mountain Money is modeled after the BerkShares, a currency in the Berkshires of Massachusetts. The BerkShares was started by the E.F. Schumacher Society in 2006. Since then, over 2.4 million BerkShares have circulated throughout the region. It is one of the most successful local currencies and has been replicated in many other communities, including the Plenty in North Carolina and Toronto Dollars in Toronto, Canada.
Get your Mountain Money today and start circulating! For more information contact Ali Rosenblatt at ali@scseed.org.