The Nuts and Bolts of Madison Hours

What Hours are

Madison Hours are community currency, issued by the people of the Madison area to increase our local money supply. Because they remain local, Hours enhance and strengthen the economy by employing a local person each time they circulate, without ever draining away to distant parts of the country or world. Since they have value only when they are circulating, participants should emphasize earning and spending Hours rather than saving them. You can earn and spend Hours just like federal cash with those individuals and businesses listed in the HOUR Community paper by calling the number printed. Many times, if costs are incurred that cannot be met locally, partial payments of federal currency are requested during the transaction. Each negotiation of goods and services is unique. Anyone can agree to accept Hours, you do not have to be listed to do so.

Hours may not be lent at interest.

Madison Hours are denominated in Hours-of-labor, but they also have the following federal equivalence:



How to get them

If you haven't been listed before, when you sign up to offer a service or good (or request one), you'll receive three Hours worth of currency in the mail with the current edition of HOUR Community Newspaper in two to three weeks. The sign-up form is on the back page of the HOUR Community Newspaper. You can also earn Hours by looking through the member's listings in the paper for Requests, indicated by a minus sign (-), to see who's currently offering to pay Hours for work or items they desire. You can also trade $10 Federal for an HOUR at most businesses that display the "We accept Hours" sign, or with any willing community member.

Why should I become a member?

The benefits of being a member of Madison Hours Co-op are:



Your membership in Madison Hours Cooperative is for one year. During that time, your listings (offers and/or requests) run in HOUR Community Newspaper (quarterly) and on our web site.

To add, add or delete listings, just log in at madisonhours.org and make the needed changes.

After one year you have the opportunity to renew your membership in Madison Hours Co-op. When you renew your membership you are disbursed additional Hours as follows...



The cost for renewal is the same as an initial membership, $5-$10 with two listings, and $5-$10 per listing after that.

Where to spend them

You can spend Madison Hours with any of the individuals or businesses listed in the HOUR Community paper; businesses that accept Hours often display an HOUR acceptance sign in their windows. Other people or businesses may be willing to accept Hours... just ask and find out. Local currency is usable with anyone who's willing to accept it.

Legal..? Taxes..?

Madison Hours are a perfectly legal form of currency, and they are taxable.

For tax purposes, the IRS considers local currency exactly the same as cash. If you have any question about whether an HOUR transaction is taxable, simply ask yourself: Would I report this income or expenditure as taxable if I were using federal cash?

Self-governance

Each member of the Madison Hours Cooperative is entitled to one vote at the potlucks, so policy regarding our local currency is made by those who use it. Each month, all members are encouraged to get together to share food, make policy and sell goods and/or services for Hours at the potluck. If you are unable to make a dish to pass or you can only attend part of the potluck, come anyway. All individuals in the community are welcome.

The potluck occurs on the 15th of the month from 6 to 8:30 PM, unless otherwise noted in the HOUR Community paper. The location is printed on both the front and back pages of the current month's paper, and is always available on our voice-mail at (608) 259-9050.