The founders and original management group members of Fourth Corner Exchange were Francis Ayley, Laura Boynton, Cheryl Niles, John Ruth and Laurie Shultis, with help from many others.
Francis started talking about the possibility of starting a local currency in Whatcom County in 1999 to whomever would listen. He met many people who were disillusioned with local currencies, because they had been part of earlier unsuccessful attempts. During the last twenty years, Bellingham has seen two LETS (Local Exchange Trading System) systems fail, as well as the Kulshan Cash currency, and a host of smaller attempts to create a strong local economy through a vibrant local currency.
Since trading began in 2004, Fourth Corner Exchange has gone from strength to strength, and presently has over four hundred actively trading members.