Open Credit Network

The Open Credit Network is a mutual credit network for the UK.

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What's new with Open Credit Network

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Website launch

We launched our website in April 2019 -
Published on May 16, 2019 by Dave Darby

First trades

We completed our first trial trades in March 2019
Published on May 16, 2019 by Dave Darby

Open Credit Network is all of us

Our contributors 3

Everyone who has supported Open Credit Network. Individuals and organizations that believe in –and take ownership of– our purpose.

Dave Darby
Collective Admin
Oliver Sylves...
Collective Admin
Dil Green
Collective Admin


Mutual credit is a trading / exchange system that requires no money, charges no interest and doesn’t involve banks. Businesses have an online account and appear in a directory (that lists the products and services they’re offering, and what they’re looking for). When they purchase in the system, their account goes into debit, and when they sell in the system, they get credit. There are limits to how far members can go into credit or debit. That’s it, in terms of the essential practical details. Members can only earn credit if another member incurs exactly the same amount of debit. Credits and debits cancel each other out, and the entire system balances at zero.

We will always be a co-operative, producing free software that any group can use to set up a local node, which can link into the global 'Credit Commons' - a global moneyless trading system.

This is revolutionary because:

  1. There’s a massive flow of money in the world, from ordinary people and communities to tax havens. This concentrated wealth is used to gain political influence and prevents real democracy. The bigger the credit commons gets, the smaller that flow is.

  2. It builds strong communities. We get to know and trust each other, and give each other credit.

  3. There’s no interest, and no need for banks.

  4. It doesn’t contribute to perpetual economic growth, so it can form the basis of a new, genuinely sustainable system.

  5. Trade can still happen in areas with high levels of poverty (or if there’s a financial crash, and people have no money, or money is worthless).

  6. It’s good for small business. It delivers more customers, and if those customers don’t have money, they can still buy from you, so you don’t have surplus stock / spare capacity hanging about. And if you don’t have money, you can still buy from your suppliers. We can get interest-free credit from each other (which is needed, because banks won’t lend to sml. businesses).

  7. It’s not an ideology, it’s just a tool to help communities and small businesses, and to build a better economy. It’s neither left nor right, which divides people. It’s non-exploitative and democratic, but it’s also based on free market principles (rather than centrally-planned) and nothing to do with the state.