To keep more money in the region, hundreds of business owners have joined this experiment in local currency. People in the Berkshires can exchange U.S. dollars for BerkShares, for free, at any of nine participating bank branches:
Leah Barber, a volunteer member of the BerkShares board, shows off the local currency in its paper form
Dale and Phyllis Webb co-own this shop, where a basic instrument runs about $250. Since most customers don't carry that much cash, most opt to use their credit cards. That comes with a fee for the business. A sign hanging by the instruments inside the shop reminds customers there is another way to pay: a local currency called BerkShares. It can help business owners like the Webbs avoid the fees that accompany credit card transactions.
As of March, it's also possible to transfer funds from almost any bank straight into the BerkShares app, which acts like a digital wallet. There is one catch: Transfers can take up to six business days. Leah Barber, a volunteer board member with the BerkShares program, likes the convenience of using the new digital BerkShares app. However, she still keeps a wad of the blue and green bills in her purse. They feature local heroes like W. E. B. Du Bois and Norman Rockwell. For her, they represent the region’s identity — and a commitment to spend local."If I whip out my BerkShares, it makes you think, 'Oh, maybe I should be paying in BerkShares too,' Barber said.
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