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  • Posted December 8th, 2019

    Become one of the first movers in a new, collaborative economy: Open Credit Network Alpha launch

    Become one of the first movers in a new, collaborative economy: Open Credit Network Alpha launch

    Lowimpact.org are working with Open.coop to build a new, co-operative, moneyless, mutual credit trading system for the UK, with a view to joining many similar schemes around the world to create a new global trading system, that requires neither banks nor interest. The point of this article is to invite you, if you own or work for a small businesses, to join the directory, find new customers and suppliers, and trade in mutual credit, in cash, or in a combination of both. If you don’t own or work for a small business, we’d like to ask you to help us spread this message far and wide – and especially to any small business owners / employees you might know. Co-operatives especially welcome!

    Here’s an article by Oliver Sylvester-Bradley of Open.coop and the Open Credit Network to explain more. Over to Oli:


    Would you like to trade with trusted business partners in a world where credit is readily available, interest-free and benefits your business more than the banks?

    Now you can – by joining a new trading platform and becoming a co-owner of The Open Credit Network.

    It doesn’t take a rocket scientist to see how money that is created as interest-bearing debt demands the economy grows year on year. Conventional money and its growth imperative are the root causes of the environmental crisis!

    So we’re offering a new way to trade, outside of the existing money system. It’s fairer, more sustainable, more ethical and more cooperative – but it won’t work without YOU!

    The Open Credit Network is a new kind of trading network built on trust. Members can trade with each other without the need for conventional money by using mutual credit. Mutual credit is a tried and tested method of trading which provides interest-free credit, avoids bank charges, provides greater liquidity, avoids discounting and saves cash for essential purchases – find out more about the benefits of mutual credit.

    Having completed our start-up phase, during which several members traded in mutual credit using our proof-of-concept accounting system, we have now developed a bespoke Directory and Accounting system to enable the growth of the network. As soon as you add your offers and wants to the directory, the software will automatically propose new suppliers and customers for you, helping you to grow your business. We’re not aware of another directory which works in this way and are excited to help new members find new business.

    As part of our Alpha launch we are offering the first 350 businesses to join free membership forever, including access to interest-free credit for incorporated businesses. You’ll also get your business name listed in the masthead so you will always be recognised as one of the first-movers that helped kick-start the new economy.

    To help your business benefit from the Network we will work proactively to help you find new customers and suppliers, by manually searching for matches for you and speaking to you about your business needs.

    This service is completely free! Plus, as The Open Credit Network is a cooperative, you’ll have a real say in the governance of the organisation and key business decisions as the network evolves.

    We’re banking on each other – and looking for 350 bold businesses to help co-create this new, democratic economy.

    Sign up to the directory for FREE – and we’ll be in touch with further information.

    Open Credit Network Alpha launch account screenshot


    Membership of The Open Credit Network is open to all businesses, but If you’re a UK cooperative OCN provides a simple way for you to improve your commitment to principle 6: Cooperation among Cooperatives.

    Principle 6 states:

    Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures.

    That’s what The Open Credit Network provides: A new, cooperatively-owned and democratically-governed national directory and trading system to help you find new customers and suppliers and trade outside of the extractive economy.

    The Open Co-opAbout the author

    As co-founder of The Open Co-op, Oliver Sylvester-Bradley organises the annual OPEN community gathering and also founded Elevator – The Good Job Network. He is a co-founder of the Open Credit Network, alongside Dave Darby and Dil Green of Lowimpact.org and NonCorporate.org.

    The views expressed in our blog are those of the author and not necessarily lowimpact.org's


    • 1Liz January 28th, 2020

      Dave Derby. I was wondering what you think about credit unions? They are not on the list in your article. I am about to get a small inheritance and I would ideally like to be using it to help in a community monetry way. Bit lost as I have never had money. Wanting ti be part of the solution Dave. Cheers.

    • 2Dave Darby January 28th, 2020

      Hi Liz – sure – credit unions are here, in the economy section – https://www.lowimpact.org/economy/. Excellent, community-oriented place to put a small inheritance. They’re always looking for local savers.

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