ML-Implode News - The Bristol pound is giving sterling a run for its money (UK)

``By using his local currency, the Bristol pound, he saw companies were more willing to give their business to him and keep money flowing in the area. Launched almost three years ago, the community currency aims to keep money circulating among independent retailers and firms by encouraging people to use the local â€˜cash' instead of sterling, an idea that has inspired other towns and cities to take up similar schemes in the UK and abroad.
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So far, some Â£1m has been issued in the community currency, according to Mundy, of which about Â£700,000 is still in circulation. As it is a voluntary scheme, the currency can switch between sterling and Bristol pounds, he said.
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"The criteria is: if you are mostly locally owned by people who live in the area. We have a postcode map drawn around the boundaries of where you can join the Bristol Credit Union -- that area is about one million people," said Mundy. One large supermarket chain and other high street retailers, as well as a budget airline, have asked to be included in the Bristol pound scheme but were turned down, he added.

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The Bristol pound is giving sterling a run for its money (UK)