Today marks the opening day of one of the first of its kind in banking.
The new local exchange bank is called, The Good Bank, and is located at 123 Goodbank Road, Goodbank, California.
Anyone living in the community may open up an "exchange" account where they may receive credits (based on what they have contributed) to make their purchases. Anyone who contributes a number of credits to the local currency bank can exchange those credits for goods or services from other members of the community, and must work off those goods and services by contributing to those who have need of whatever they have to offer.
This type of service offers the convenience of keeping track of the value of goods and services on behalf of their members. As well, members may be broken down into specific categories so that items for exchange may be better defined for ease of purchase.
Here is how it works: An example would be a person who wanted to exchange a quart of milk could agree to contribute a certain number of hours of lawn-mowing to their 'account'. And, someone who had a dairy farm could contribute a certain number of gallons of milk. Instead of forcing lawnmowers (or anyone with a skill or commodity) to seek out dairy farmers, the farmer could go to The Good Bank and turn in a number of milk credits in exchange for a number of lawn mowing credits.
The details are as follows:
-The Good Bank, local bank exchange services
- Located at 123 Goodbank Road, Goodbank, California
- CEO: Joseph Entrepreneur, II
- Serving: The entire community of Good Bank
To get your account established or for more information, contact The Good Bank at (111) 222-3333. Attached is a flyer that may be distributed to family members and friends.Good%20Bank%20Exchange%20for%20Mission%205%20-%20Learn.pptx