Adirondack Cooperative Economy

We are a new community of concerned citizens and businesses that wants not only to boost our economy but bring about a shift in our attitude towards money.

Thursday, January 16, 7 PM


The date is set! ACE will hold its annual members meeting at

7 PM, Thursday, January 16

at Linda Marcella’s lovely new Real Estate office at

3912 Main Street, Warrensburg (opposite Bill’s Restaurant)

Some of us will be having dinner there beforehand. You are welcome to join us.

2013 minutes and agenda for 2014 will be sent out to members by Email and available here.


Adirondack Cooperative Economy – Minutes – Annual Members Meeting January 17, 2013, 6 PM

Location:  Our Simple Life Farm, 870 Alden Ave, Warrensburg (Thank you, Todd and Flo!)

Present: Anna Busser Erik (Wbg), Flo & Todd Olden (Wbg), Carol Bram (Wbg), Barbara Boggia (Chestertown), Teresa Whalen (Wbg), Linda Marcella & Cliff Gates (Wbg), David & Brenda DeLozier (Saratoga), George Goodwin (Bolton), Bill Campbell (Bolton) Tiffany and Eric Millington (Wbg), Helen Hayner & Lynn McDonald (Chestertown), Arthur Watkins (Wbg), Diane Collins (G.F.), Patty Campbell (G.F), Jane Bouder (G.F.), Rocco Antonelli & Sheri Hewson (Schroon Lake)

Not Present:  Terrilyn Jamison, Colleen Combs

  • Greetings and blessings – Today is the Mayan day of 5 Deer (kej). The Deer Buck is our currency symbol. Five is the energy of collection and synergy for common intention. Deer represents compassion, of linking the world of humanity with that of the earth and the heavens through his four legs, hoofs and antlers. Together it represents the “energy of common passion”. How appropriate!  Anna read the traditional Mayan ceremonial opening.
  • Introductions: Anna – initiator, Diane – from Transition Town Movement which incorporates many of the same values of alternative currency, self reliance, community support, Patty – Transition Towns, Jane – outdoor maintenance, Sheri – media consultant, tax law, Rocco – chef, farmer, music, jewelry, promotional materials, George – Transition Towns, photography, design, Lake George history, Adirondack sustainability (mentioned ANCA meeting Jan 23 at Wild Center), David – publishes EcoLocal Magazine, member Sustainable Saratoga which is considering cooperating with ADK Bucks, permaculture, consulting on small scale farming, Linda – Wbg. Town and School Board, Economic Development Committee, Real Estate, Gardening, Baking, Beekeeping, Crafts, Teresa Whalen – Beautification Committee, historic preservation, Wbg. Community Garden, Adirondack Harvest, Brenda – permaculture, seedsaving, Lynn – OT, gardening, sewing, button making, Helen of Troy (NY) – old Lithuanian skills, Barbara – has farm, interesting in teaching youth farming skills, Carol – gardening, cello playing/teaching, Wbg farmer’s market, Bill – gardening, music, biodiesel, transition town Bolton, solar installation, Flo & Todd – farming, woodwork, crafts, teaching old ways, logging with mules, travelling sawmill, Cliff – hunting, monuments, funeral home director, Tiffany & Eric – childcare, cooking, painting, insulation, moving rocks, Arthur – farmer
  • Anna’s Proposal –  meet once/month.  Seconded by Flo. Passed. We will meet at each other’s homes and businesses.
  • History of ADK Bucks: March 15th, 2012 – foundation meeting at Rock Hill: Anna, Barbara, Linda, Colleen form founding committee – meet on a weekly basis to decide: Mission Statement: to create a system that will enhance the local economy by encouraging trade with local businesses in order to keep money local and by increasing the buying power of local residents. Consensus model for decision making. Dollar model rather than hour model. Unredeemable in US Currency or silver – Intention: to remain circulating locallyBack currency by trust in each other – in goods and services we each haveName of organization: Adirondack Cooperative EconomyName of currency: Adirondack BucksIRS EIN # as a “not-for-profit banking service” on June 14, 2012 – 501(c)6 form consideredDBA and business names filed witth CountyBank Account opened at GFNBankPO Box opened: Box 252, Warrensburg, NY 12885 Email address: AdirondackRegionalCurrency@aol.comUse of paper currency, with on-line trading system (to be created)Briefly tried 4th Corner Exchange as on-line trading system, decided to create our ownTerrilynn designs and prints currency

AdirondackCooperativeEconomy Facebook Page begun June 22, 2012 homepage opened with WordPress August 20, 2012

Adopted Currency Guidelines from Tom Greco, author of “ The End of Money and Future of Civilization”

practice reciprocity (giving and receiving equally)

– create proper basis for issuance of credits or currency, clarify who issues money, (agent/issuer)

– balance supply and demand of currency

– create individual account limits (credit must reflect productivity of business vs demand)

– create clear agreements between issuer and users of currency

– keep money circulating (avoid pockets of stagnant money and those with none)

– be accountable, transparent, with clear management procedures and controls

– prevent over-reliance on volunteer administrators, prevent volunteer burnout

– develop business plan, budget, paid positions soon

– create confidence in the system

– create critical size of participant base,

– gain wide enough assortment of goods and services

– attract participants from all levels of the supply chain from production to the distribution circuit

– gain acceptance from mainstream business community

  • Financial Status – 2013 Budget presented

    38 members

    – Bank Balance – US $743.75

    – 4,045 ADK Bucks printed in 1′s, 5′s, 10′s, 20′s

    1,011 ADK Bucks in circulation

    3,034 ADK Bucks available

    designers need to come up with a design/symbol for our currency

  • Anna hands out “Complementary Exchange Guidelines” for future reference in creating on-line trading

  • George suggested, as a publicity/education endeavor, that the group offer to the community a monthly skills training – how to plant, look for seeds, at a place like the Chamber of Commerce, maybe free to members and a dollar for non-members.

  • Today’s task:  Creating a Board and Committees:

    Proposed and accepted:  term on board shall be for one year – proposed and accepted

    – The following were nominated, seconded, and voted for one year appointment:

    Chair Anna Busser Erik

    Vice Chair Linda Marcella

    Treasurer             Colleen Combs

    Secretary            Barbara Boggia, Sherry Hewson (Backup)

  • PR/Marketing/Membership Committee:

    Sheri Hewson, Dave DeLozier (representing Saratoga), Yvonne Miller (will be asked to represent Wbg businesses), Patty Campbell (representing Glens Falls), Gail Brill (will be asked to represent Saranac), Linda Marcella, Jacobs and Toney’s (Jennifer) will be asked for support. However All members need to be part of this with contacts and getting the word out. Questionnaire proposed to ask businesses whom they buy from and sell to – must be kept confidential! This will give us guidelines on whom to approach to build up the trade network.

    Design and Printing: Terrilynn Jamison, Rocco, George

    Legal Advisor: looking for candidates

    The following have been advising us on:

    Non-Profit Administration: Michael Tracy-Ireland

    Economics: Tom Greco

    Accounting: Bob Leroy

  • Future Meetings will be 3rd tues each month. Next meeting: Tuesday, Feb 19, 6-8 PM at Willows Bistro

Respectfully submitted,     Barbara Boggia


Agenda (under development) : Meeting January 16, 2013 7 PM

1. Introductions

2. Reading and Approval of Minutes from January, 2013

3. Treasurer’s Report

4. Election of Board Members

5. Short Review of 2013

  • expansion of membership from 38 to 74 (many businesses)
  • increase of amount in circulation from 1,011 to 3,929
  • supported the foundation of the Greater Warrensburg Business Alliance: Taste of Warrensburg, Buy Local Saturday
  • supported the town wide survey (presently in analysis with Town Board)
  • supported new membership on Board of Chamber of Commerce (Anna, Linda, Yvonne, Teresa,)
  • hosted Michael Tracy Ireland Lecture & Meeting on Sustainability
  • 2nd Annual Xmas Market accepting 100% ADK Bucks
  • Promotion: involving businesses in sale of Bucks
  • Survey: results (20 by Dec 29)
  • End situation:
    – some businesses pooling bucks, need to spend 100% with other businesses, need more businesses involved, want redeemability option
    – customers have no Bucks left, not motivated to buy more: want Rewards/Discount/Loyalty system.

6. Proposals:

  • Setting up ACE presence in town: Thursdays 11 am- 7 pm (or by appt.) at Linda’s Real Estate Office, 3912 Main Street
  • Dealing with 2 separate issues: 1. business to business trade and 2. customer to business trade
  • Dealing with individual businesses pooling bucks
  • Choices: 3 options:
    – Calgary Model: buy Bucks with $ but do not redeem back into $ (funding through grants)
    – Berkshare Model: purchase and redeem Bucks with and into US$ (funding through grants)
    – Business to Business online mutual trade system with credits and debits: no Bucks or Dollars used in trade. (membership fee in $ and per transaction fee in credits)
  • asking businesses to accept 100% Bucks
  • Increasing business base (ideas)
  • Marketing ideas (promoting business specials, weekly column in ADK Journal?)
  • Buy-Local Activities & Promotions
  • Promoting business to business specials through Chamber
  • Promoting loyalty rewards system for non business customers and tourists.
  • Supporting: new businesses & activities coming to Wbg: ( in particular) Food Coop, copy shop, clothing & shoe Store, green manufacturing, craft supplies, more food related businesses (farms, kitchens), youth center, affordable senior housing, pedestrian shopping, municipal energy & cable, water purification, town composting
  • Continue cooperation with Economic Development Committee, G.W. Business Alliance, W. Chamber of Commerce.
  • Other:

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