THE SMART MONEY HOW ONE SMALL TOWN MAKES BIG BUCKS By David Square
I n Notre-Dame-de-Lourdes, businesses can say the buck stops here. Six years ago, the Chambre de Commerce Notre-Dame-de- Lourdes decided to promote the local economy by issuing $5 and $10 denominations of currency that can be spent only at local businesses. “Initially, we offered Notre Dame Bucks as prizes at fundraisers instead of buying a gift from a store outside of town,” says Lise Deleurme, chamber president and owner of Deleurme Chartered Accountant Services. Deleurme and fellow chamber board members came up with the idea, and it’s been a success. A large percentage of the initial printing of $5,000 of the currency was in circulation by
the end of the first year, and $7,400 in Notre Dame Bucks are now in circulation. “They are often given to employees as year-end bonuses,” Deleurme says. “One employer issued $500 bonuses.” In order to monitor the serialized bills, only chamber member companies are eligible to accept the bucks in exchange for merchandise. The businesses can redeem them for cash at the town’s Caisse Groupe Financier and citizens or visitors can purchase them from the credit union. Legally designated as gift certificates, the $5 and $10 bills are printed on plastic material that “feels like Tyvek” and features the town colours of blue and red, as well as the chamber logo — a blue and red disc with a crenated edge, a white cross in
28 MBiz | November 2014
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