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Dr. Karl Schutz Chemainus Dollars Interview

Dr. Karl Schutz Chemainus Dollars Interview

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Published by Carl Mullan
Detailed interview with Dr. Karl Schutz the creator and founder of Chemainus Dollars. This highly successful local currency was just launched in Canada.
Detailed interview with Dr. Karl Schutz the creator and founder of Chemainus Dollars. This highly successful local currency was just launched in Canada.

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Published by: Carl Mullan on Jun 09, 2010
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07/22/2010

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C
ommunity
C
urrenCy
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agazine
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arCh
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ssue
§ 1
 
 
CCM
 agazine
 A Revealing Interview With Dr. Karl Schutz Creator of Chemainus Dollars
June 2010
 
10 §
C
ommunity
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(Q) When the currency opened in April I read thatyou had printed up ready for distribution, around$200,000 in Chemainus Dollars. Do you have anyrunning totals of how much of the currency hasentered circulation?
 Our business plan and projection suggested wewould be able to have CH$ 10,000.00 in circulationwithin 30 days. Our forecast (from the experts) werewrong! After only 25 days, we had in excess of CH$25,000.00 in circulation.
(Q) I counted more than two dozen merchantsupporters listed on your web site. How manypotential merchants are in your area and whatpercentage have you already signed up?
There are approximately 100 eligible businesses intown. To date we have about 50% signed up, and we
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§ 11
 
would like to get at least 90% participating.However, our gala opening introduction was sosuccessful we were overwhelmed with orders, bothfor CH$ cash and merchandise. We are graduallymaking personal visits to stores who have not yetparticipated. Getting as many merchants on board, assoon as possible, is one of our top priorities.
(Q) When a new merchant agrees to accept theCH$, do they sign a pledge, contract or agreementand are they required to “buy” a minimum amountof the notes?
First, no pledge or agreement is needed. One of ourtop priorities is that every business in the ChemainusValley excepts the CH$ and support this community-driven project. To advertise their support they mustdisplay a decal on their window which represents asmall CH$5 investment on their part.Second, we do have a starter kit for CH$50 and anotherfor CH$100, which we encourage the merchants to
 purchase to support our project nancially. But these
purchases are at the discretion of the merchant. Theyare not required. Finally, we design and encouragespecial marketing programs to advertise merchantbusinesses, as well as the CH$.These are no charge for the merchant.
(Q) Is “Chembuck” an ofcial nickname?
Not Yet - but it may turn into that. We generally referto it as CH$ (c-h-dollar) or Chemainus Dollar. But,we’ve even heard folks use the term Ch-bucks (tchaa-bucks). People who love the CH$ will christen it allon their own.
(Q) Interest earned from CH$ accounts and pro-ceeds from merchandise such as framed CH$ willfund town arts projects. Are there any projectsnow in the works to receive this funding?
The Chemainus Monetary Foundation Board hasa number of community projects in mind and theseinclude new town murals. But before we are ableto expend any energy and time on this, we need togenerate revenue and ensure the foundation booksremain “in the black”.
This means that for the rst year we will concentrate
all our efforts on creating CH$ related Merchandiseand collector items while at the same time openingour own store, which will be called the “Chemainus

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