Chiemgauer

Chiemgauer is the name of a regional local currency started in 2003 in Prien am Chiemsee, Bavaria, Germany. It is named after the Chiemgau, a region around the Chiemsee. The Chiemgauer program is intended to promote local commerce and non-profits. The Chiemgauer operates with a fixed exchange rate: 1 Chiemgauer = €1.

Christian Gelleri, a high school teacher, started this project with his students, who are in charge of designing and printing vouchers and take care of administration, accounting, advertising and other tasks. Chiemgauer is a member of a regional currencies' network called Regiogeld e.V. (regiomoney-association).

The Chiemgauer is intended for:

Bills of 1, 2, 5, 10, 20, and 50 Chiemgauer are issued. To maintain an individual bill's validity, a "scrip" corresponding to 2% of the banknote value must be paid every three months. This system, called demurrage, is a form of currency circulation tax invented by Silvio Gesell.)

There is also an electronic form of the Chiemgauer: the eChiemgauer. The rules are the same as for the paper money. The demurrage is 8% per year.

Since 2006, an electronic form of the Chiemgauer — the 'eChiemgauer' — is also in use. Bank accounts are used for operations; this has been made possible through cooperation with cooperative and local banks. Only businesses and non-profits need additional electronic accounts, while consumers have the possibility to use electronic cards called 'Regiocard'. Two third of Chiemgauer turnover is electronic.

Chiemgauer can be saved without interest at a social cooperative called REGIOS (since 2007). Likewise, a microcredit programme for businesses and non-profits exists since 2010. Loans are available in amounts ranging from €1,000 to €20,000. Interest is calculated at a rate of 9%, but when a loan issued in Chiemgauer is paid back on time and without fault the entire interest costs are paid back to the debtor.

Chiemgauer, considered to be equivalent to the euro, circulates as follows within the districts of Rosenheim and Traunstein:

As of end-of-year 2014:

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