On May 19 the Town of Cochrane will reveal the launch of its very own currency.
The launch will be held at Cochrane ATB Financial at 10 a.m. where the images and faces that will appear on the $1, $2, $5, $10 and $20 bills will be unveiled at the launch. To date, 14 businesses have signed up to participate in the program.
“This will bring people to my business and to the town of Cochrane,” said Tim Petros, owner of Tim’s Gourmet Pizza at 111-2nd Ave West.
Petros keyed in to the idea right away.
Given that the bulk of his business includes selling his gourmet, Italian-style pizzas at various farmers’ markets in the region, Petros is looking forward to the tourism boost that will result from spreading Cochrane Dollars around.
Ernesto Lozano, owner of The Hub coffee shop and bistro in Sunset Ridge, thinks the initiative is a great way to “help out the town” and keep the shop local buzz alive in town.
The initiative is a collaborative effort through the town’s economic development team, the newly-formed Cochrane Monetary Foundation (CMF) and the sole partnering financial institution, Cochrane ATB Financial; the CMF is a non-profit group comprised of small business people.
“Collectively, we’ve been working on the graphics for the bills,” said Mike Korman, manager of economic development for the town.
Korman said the two-week public survey generated a number of options – including one that will appear on the commemorative $150 bill, in honour of Canada’s landmark birthday celebration.
“There will be a very limited quantity of those bills,” said Robert Kalinovich with the economic development team, adding that the future may hold $50 and $100 bills.
According to Laurie Drukier, senior communications manager for the town, the online public survey conducted earlier this year generated nine options for the front of the bills and 10 for the backs.
A spin-off on the town’s Shop Local campaign, in an effort to support local businesses and to boost the Historic Downtown into a thriving district, Cochrane Dollars is aiming to be a major tourism boost that will keep people thinking about Cochrane, influencing them to spend their dollars in town.
The currency operates on a dollar-for-dollar basis and participation comes at no cost to businesses.
Customers are not obligated to take Cochrane Dollars as change.
The money never expires and can only be exchanged at Cochrane ATB Financial.
