Hero Card
The Community HeroCard (CHC), introduced in Minneapolis, Minnesota in 1998, is a community currency that uses debit cards.
The program is a collaboration between local residents, non-profit organizations (NPO), businesses, and the local government to invigorate the local economy and community.
Residents pay an application fee of ten dollars, and when they volunteer at a participating NPO, earn ten community service dollars (C$D) per hour, which is credited to their card.
Participating stores agree to contribute 5 to 20% of the price of a purchase. If a member makes a purchase, the store unconditionally refunds 40% of its commitment to the member; another 40% is refunded if community service dollars are used, and contributed to NPOs if not. The remaining 20% is contributed to NPOs in the program. In addition, a fee of 25 cents is charged for each card use. Community service dollars must be spent within 180 days or be automatically contributed to NPOs.
As of August 1999, participants included 2,100 individuals, 43 NPOs, and 70 businesses.
External links
Categories: Community currencies