How will the local currency work for consumers and shoppers?
Consumers who join the scheme (one-off joining fee £5) will be able to buy local
currency vouchers (‘Stroud Pounds’) in exchange for Pounds Sterling. Click here
for a list of outlets and exchange points.
1 Stroud Pound will be worth 1 Pound Sterling. Notes will be in four denominations
(£1, £2, £5, £10).
When joining the scheme, individuals can nominate a local charity or social enterprise
of their choice to support. Thereafter, for every currency unit purchased by that
individual, 3% is allocated to the chosen local charity provided it is a member of
Stroud Pound Co-op. Click here for a list of participating charities.
Consumers will be able to spend Stroud Pounds with participating shops and businesses
that will be listed on the Stroud Pound website and in a printed directory. Click
here for a list of participating traders. If you opt to do so, you can receive email
updates about new participating traders and other news.
Consumers will not be able to exchange Stroud Pounds back into Sterling Pounds. Stroud
Pounds are for spending, not saving.
To encourage the money to remain in circulation Stroud Pounds will lose 3% of their
value every six months – on March 31st and September 30th. At the end of the six-month
period, the value of vouchers may be restored by purchasing and affixing stamps amounting
to 3% of their value. Vouchers can then be used for a further six months. After two
years the notes are replaced.