What kind of role could complementary and community currencies play in the strengthening of community cohesion and territorial identity? How can these systems help to reshape and re-evaluate local identity? Through answering these questions the study seeks to prove, that a functioning local community currency system can enhance cohesion among the local community members and can contribute to the strengthening of territorial identity, consequently to the success of a region. The study provides a literature review and references some international studies related to the topic, it also reviews Hungarian examples, highlighting the Rigac, the community currency of Alsómocsolád. The author analyses the documentation of Hungarian complementary currencies and the results from a survey of Rigac users. The results indicate that a complementary currency can strengthen and mobilize the network of local actors through the values it represents (local identity, institutionalization of cooperation, empowerment of the local community, etc.). It can serve as a staple that unites community members. If the system is successful, it can reinforce the sense of belonging and the pride it brings in its members. Based on research findings the study considers the alsómocsoládi Rigac as the most successful Hungarian example of strengthening the local community and local identity through a community currency system.