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. Hours exist in 2 forms: paper and electronic.

You can earn and spend Hours just like federal cash with those individuals and businesses listed in this 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 a member to do so.

Hours may not be lent at interest.

HOW THEY’RE DENOMINATED
Madison HOURS are denominated in hours-of-labor, but they also have the following federal equivalence:

HOUR = $10.00
Half-HOUR = $5.00
Quarter-HOUR = $2.50

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 - your choice of paper or electronic in your on-line account. Sign-up at our website, madisonhours.org.

You can also earn Hours by looking through the member listings for Requests (listed on page 4), 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.

MEMBERSHIP
The benefits of being a member of Madison Hours Co-op are:
• One vote at all membership meetings.
• Printing of your Offers/Requests in Hour Community Newspaper and on our website.
• Disbursements of Madison Hours upon joining and then every twelve months upon renewal.
• On-line account to track your electronic transactions.
• Elegible to run for our Board of Directors.

Your membership in Madison Hours Cooperative is for one year. During that time, your listings (offers and/or requests) run in Hour Community Newspaper (twice annually) and on our web site. You can update your listing as needed on the website.

There is also a no-voting membership that is only available to businesses and non-profits. Please visit our website for more information.

WHERE TO SPEND THEM
You can spend Madison Hours with any of the individuals or businesses listed in this 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 is 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 trans- action 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 all membership meetings, so policy regarding our local currency is made by those who use it. Membership meetings usually happen annually to elect our Board who oversee the day-to-day operations of the organization. Special meetings are called, as needed, to discuss policy changes.