You have questions… we have answers
Frequently Asked Questions
What is the Canadian Consumer Cooperative Association?
The Canadian Consumer Cooperative Association is an organization dedicated to exploring and promoting methods by which Canadians may obtain consumer goods and services while preserving access to life’s necessities and supporting a healthy domestic economy.
What is a consumer note?
A consumer note is a promissory note issued by a consumer in connection with the purchase of consumer goods or services. The Association advocates a specific framework governing how such notes may be created, transferred, accepted, and settled.
Why have I never heard of consumer notes before?
Most Canadians are familiar with bank-issued money, credit cards, loans, and mortgages. Consumer notes are not commonly discussed in public education or mainstream financial discourse, despite promissory notes having a long history in commerce.
Is this a cryptocurrency?
No. Consumer notes are not digital tokens, blockchain assets, or cryptocurrencies. They are a distinct concept based on negotiable instruments and consumer transactions.
Is this a loan?
No. A loan generally involves borrowing existing funds from a lender. Consumer notes operate under a different framework involving the issuance of a promise to pay in connection with a consumer purchase.
Can consumer notes be used for anything?
No. The Association proposes limitations on their use. Consumer notes are intended for specific categories of consumer goods and services and are not intended for speculative, commercial, or luxury purposes.
Would consumer notes cause inflation?
The Association’s position is that inflation does not result merely from the existence of a consumer note. The argument rests on whether the value represented by the note corresponds to goods or services actually provided. Detailed explanations are available in the Resources section.
Is this legal?
Questions of legality depend upon specific facts, jurisdictions, transactions, and applicable laws. Visitors are encouraged to conduct their own research and consult qualified professionals where appropriate. The Association provides educational materials and discussion of the legal principles it relies upon.
Who can join the Association?
Membership opportunities are available to individuals who wish to learn more about the Association’s objectives and participate in its activities. Details are available on the Membership page.
Where can I learn more?
Additional information can be found in the Resources section, supporting documents, presentations, and other materials published by the Association.