Common Good Card
The Common Good Card is a new way to strengthen Goshen’s economy. The card generates community benefits while making local transactions, enabling users to contribute to a community fund for the benefit of a Common Good economy in Goshen, Indiana.
Using the Common Good Card supports local businesses by avoiding credit card fees and encouraging customer loyalty.
Instead of paying transaction fees of 2% to credit card companies, businesses can donate 1% of each sale to Goshen’s community fund.
Card holders can opt to make automatic contributions to the Goshen community fund by rounding up each of their transactions to the nearest dollar.
Decisions about how to invest the Goshen community fund and direct the overall system are made at a local level, with autonomy and democratic control as a community participating in the national Common Good network.
How it Works
Use the Common Good Card similar to any debit or credit card at participating local businesses. Transactions are made using Common Good Credits, which are stored and managed in individual accounts just like dollars and conventional banking accounts. Participants can both spend and receive Common Good Credits, and exchange them for dollars or vice versa at any time.
1 Common Good Credit = 1 $US
The Common Good Card is currently being implemented in Goshen as a ‘micro-trial’ prior to launching an official pilot. During this initial phase, we are actively working with the Common Good network to tailor the branding, communications, and technology to best suit the unique values, needs, and aspirations of our community.
We welcome anyone willing to join us and help co-create a system for empowering the Common Good in Goshen. Please contact us if you are interested in learning more.