Ekopia Resource Exchange Ltd

EKOPIA RESOURCE EXCHANGE LTD

Ekopia is a community benefit cooperative attracting capital for reinvestment in community ventures. A community benefit cooperative (or bencom for short) can offer shares to its community of interest in a more or less public way. A bencom can operate in ways similar to a bank, except that it’s controlled by its members who have one vote each regardless of their investment; its activities must support a community interest rather than simply be for profit; no one person can invest more than £20,000.

One Eko money note; buy-out of the Phoenix with Ekopia director Alex Walker and Phoenix manager David Hoyle

We have over 260 members with about £750,000 invested in various projects in west Moray. By November 2012 we expect this sum to be over £1 million.

We have investments in Phoenix Community Stores Ltd (our first project), the New Findhorn Directions eco-chalets, Findhorn Wind Park, Newbold House, Moray Steiner School, and affordable housing projects including Station House Cooperative, the Soillse housing project and a partnership with Duneland Ltd to provide four affordable housing units at the East Whins cluster.

In May 2002 we launched the Eko, the UK’s oldest active alternative currency. One Eko equals £1. Ekos come in denominations of one, five, 10 and 20. Traders can provide change in sterling for Ekos, but the law does not allow Ekopia to redeem Eko notes for £s sterling from individuals.

Today there are about 20,000 Ekos in circulation being accepted by most of the Community’s main organisations. We use surpluses generated by the currency to provide low interest loans for new projects, and to create gift capital. The last issue created a surplus of 1,000 Ekos, which we donated to Community projects.

Alex Walker