19 Sep '12, 2pm

Why the @BristolPound marks a new era for local money

Why the @BristolPound marks a new era for local money

. The Bristol Pound is the first UK scheme to partner with any kind of deposit-taking financial institution - the Bristol Credit Union . Many previous local currencies have struggled with administration, security and funding. Having the credit union administering the scheme will addresses these challenges. It also opens up the scheme to a more diverse range of people than previous currency projects. Every existing member of Bristol Credit Union (BCU), including many people who struggle to access finance from high street banks or receive benefits, will automatically be offered membership of The Bristol Pound. The project is a great marketing vehicle for BCU, helping it compete with larger banks for retail customers and encouraging more small businesses to hold accounts and get loans. Meanwhile, customers buying Bristol Pounds will know they are not only supporting local bus...

Full article: http://www.neweconomics.org/blog/2012/09/19/bristol-pound...

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