Open Collective
Open Collective

Open Credit Network

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

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Top financial contributors


Leo Sammallahti

£130 GBP since Jan 2020

mike hales

£60 GBP since Jan 2020


£50 GBP since May 2020


The Open Co-op

£112 GBP since Feb 2021

Open Credit Network is all of us

Our contributors 7

Thank you for supporting Open Credit Network.

Leo Sammallahti


£130 GBP

mike hales

£60 GBP

Here’s to the credit commons


£50 GBP


Transparent and open finances.

-£188.28 GBP
Invoice #119251
Contribution #61534
Contribution #61971
Today’s balance

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Total raised

£327.54 GBP

Total disbursed

£327.54 GBP

Estimated annual budget

--.-- GBP


Let’s get the ball rolling!

News from Open Credit Network

Updates on our activities and progress.

Website launch

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

First trades

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


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. 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. 
See the code for our Alpha software in our Git repository

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