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The Fairbuck Project Comes to an End

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For the last 5 years Sustainable Fairfax, in a joint project with the Fairfax Chamber and the Town of Fairfax, has been part of a consortium supporting the Fairbuck Project, a community based currency.  The program has been very successful in generating thousands of dollars for community based projects such as the garden at the Women’s Club, the Bike Mosaic Bench on Bolinas Road, and Streets for People.

The Fairbuck program has been winding down over 2016.  The last day for businesses to cash in any Fairbucks  was July 31, 2016.  The remaining reserve funds will be distributed to other community projects.

FAIRBUCK PROJECT: HOW IT STARTED

The FairBuck Project was a local exchange system employing trade tokens. The FairBuck, launched at the 2011 Fairfax Festival, supported a more vibrant local economy, encouraging residents and visitors to invest in Fairfax, and heightening awareness of how spending locally encourages the Fairfax community’s economic well-being.

The FairBuck Project was initiated by members of the Environmental Forum of Marin’s 2010 Masters Class in Sustainability, and grew into a collaborative effort that includes the Fairfax Chamber of Commerce, Sustainable Fairfax, and the Fairfax Town Council. These three organizations partnered on the FairBuck Steering Committee, creating a community partnership to chart a course for long term viability of the FairBuck.

The first FairBuck token, designed by a local artist, was a  1.25″ brass token with the image of a Buck on one side and a Snail on the other.
Why the Buck and Snail? The buck is part of the Seal of Fairfax, and also stands for strength in community. The snail is a celebration of our community’s commitment to home, living a purposeful existence, and an homage to Fairfax becoming the second CittaSlow certified community in the U.S.

fairbuck
These tokens, which were worth $3 a piece at participating businesses, provided an opportunity for residents and visitors to invest in Fairfax by using the FairBuck to make purchases and accepting them as change. When FairBucks were accepted as change, they could only be spent at participating businesses in Fairfax, thus keeping those dollars circulating locally. When the FairBuck tokens became cherished as souvenirs or collector’s items by residents or visitors, the US Dollars they represent remained as an investment as they continued circulating within the Fairfax economy.

FairBuck Project In Full Swing!

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The FairBuck Project began in the beginning of 2011 as a collaborative effort by Sustainable Fairfax, Town of Fairfax and Fairfax Chamber of Commerce to launch and utilize a 3 dollar trade token to promote a more vibrant local economy. In June of 2011 we minted 5,000 tokens and had a very successful launch during the Fairfax Festival. With over  30 businesses participating; we were able to get almost 4,000 tokens int circulation in one week, mostly through exchanges with individuals.

Our enthusiastic parade entry won second place in the Community category, we tossed out chocolate coins, and had numerous volunteers walking around the festival exchanging US dollars for FairBucks. The project was inspiration for the Festival poster/tee shirt, featured on the cover of the Pacific Sun and the San Francisco Chronicle, and covered by local radio, TV, and online news sources. Use of the FairBuck encourages residents and visitors to invest in Fairfax and heightens awareness of how spending locally encourages the Fairfax community’s economic well-being.

 

At one month in, only one business has felt the need to exchange them back into US dollars and it happened to be Fat Angel, the only coffee shop in town accepting the FairBuck for the first 3 weeks of circulation. Individuals are asking for the FairBuck in change, many purchasing from one business so they can spend them at others. Most participating businesses are finding the flow in and out to be well matched. Ray Martin owner of the Fairfax Scoop has been cashing them out himself for local shopping. Parents are finding it a great way to pay allowance or chore money.

 

We have $12,000 worth of Fairbucks circulating around town, keeping our money local. Our reserve account at First Federal Saving and Loan is holding the $12,000 in US dollars in case businesses need to exchange back and after observation of the project we will determine a reasonable reserve level and hopefully use the funds raised to mint another batch of tokens for 2012 and for local community projects.

 

But the mercantile token is just the tip of the iceberg. Now that we have everyone’s attention we are interested in growing the project to possibly include a broader token such as Ross Valley, or even all of Marin or we might create a FairBuck debit card system or a scrip based exchange for local businesses. But we need volunteers to make all of this happen. An amazing team of volunteers from Environmental Forum of Marin, Sustainable Fairfax, Town of Fairfax and the Fairfax Chamber of Commerce has been working very hard to make the launch a success.

 

Now we need folks to work on our Merchant Outreach Team, our Messaging Team and our Model Design Team. These three teams are led by members of the FairBuck Steering committee and will determine the future of local currency in Fairfax. We discovered the 80% or all local currencies fail and we are committed to be part of the 20% that succeed.

 

The FairBuck provides an opportunity for residents and visitors to invest in Fairfax. The FairBuck is accepted as change and can only be spent at participating businesses in Fairfax-keeping those dollars circulating locally. FairBuck tokens that are kept as souvenirs allow us to spend US dollars raised on local community projects. FairBuck trade tokens empower Fairfax to support local business and keep our local economy thriving. Keep the FairBuck moving by asking for it in change and spending it at participating businesses.

 

Participation is completely voluntary for businesses and shoppers.

 

For more information go to www.fairbuck.org

 

To get involved email fairbuck@gmail.com

 

List Of Certified FairBuck Businesses as of July 9th, 2011

 

123 Bolinas, 19 Broadway Nightclub, Avatar Community Business Center, Bellezza Skin Care, Butterflies & Pollywogs, Casa Mañana , Circlecenter , Culture Shock , Dandelion Eco SaLon, elsewhere gallery, Fairfax Cyclery, Fairfax French Laundry & Cleaners, Fairfax IGA Market, Fairfax Lumber and Hardware, Fairfax Scoop , Fat Angel Bakery, For Paws, Good Earth Natural Foods, Grilly’s, Iron Springs Pub & Brewery, Lola’s Depot, Lydia’s Kitchen, Madera Furniture, Morgan Hall – Architect, Quality Liquors, Revolution 9, Rushton-Chartock Architects, Sustainable Fairfax, The Fairfax Community Wellness Center, The Herban Garden, The Potting Shed, The Sleeping Lady, Tibet Moon, Trouvé, Various & Sundries, Yoga Mountain Studio