Ekopia launched a new community currency in May 2002 – the Eko, with the support of the Hygeia Foundation.
The Eko is a local currency system designed as a working alternative to £s Sterling in economic transactions, to be a viable replacement for the pre-existing “blue money” system and as a complement to local LETS schemes.
Local organisations that accept Eko notes include:
- Phoenix Shop
- Findhorn Bay Holiday Park
- Phoenix Café
- Findhorn Foundation
- Bakehouse Café
- Kimberley Inn
- Green Bridge Organics
- La Boheme
Since the successful trial, 15-20,000 Ekos have been in permanent circulation and we are now into a fifth issue (launched in November 2017).
Total trading turnover of the notes is estimated at >£100,000 per annum and several new traders have started accepting the currency. As a result of the surpluses created we have been able to make a grants to various community bodies including the Festivals Group, Youth Project and New Findhorn Association.
The issue is at par with sterling i.e. 1 Eko = £1, and notes are in one, five, ten and twenty denominations. Individuals may not redeem the notes in sterling from Ekopia, although traders may redeem the Eko currency in sterling from Ekopia according to certain set criteria.
From the sale of the notes to community members, Ekopia has made low interest loans to various community organisations.
Visitors can receive the notes in a number of ways, including purchasing Ekos from the Findhorn Bay Holiday Park reception and the Visitors Centre.
Aims of the Eko Currency Issue
- To provide low cost financing for new projects through low interest loans and surpluses generated by the currency project itself.
- To enable existing businesses to make savings on bank charges (surprisingly perhaps, this benefit may outweigh the value of the low cost financing), and to stimulate trade amongst community business, residents and visitors.
- To promote these businesses and projects, and the Ecovillage in general as a place of innovation and sustainable economy
- To inspire both guests and residents with the demonstration value of a locally based currency, and to get the users thinking about how and where they spend their money.
- To create gift capital for local projects.
Note Collectors
There has been growing interest in the Eko from collectors of bank notes.
We are happy to sell denominations from both the current and past issues on the following basis.
All notes sold at face value, plus postage and packing.
P&P is typically £2-4 in the UK and £4-£10 elsewhere.
Minimum order is £25 plus P&P.
Available Notes:
Mint Condition
- Trial issue No 1 (May 2002) 1
- Issue No 2 (May 2003) 1
- Issue No 3 (March 2006) 20
- Issue No 4 (August 2012) 1, 5, 10, 20
- Current Issue No 5 (November 2017) 1, 5, 10, 20
Additional, in Good Condition
- Trial issue No 1 (May 2002) 5
- Issue No 3 (March 2006) 10
Some notes, such as the 20 Eko from Issue 2 are no longer available.
If you are interested in an order: please contact us