A Local Exchange and Trading Scheme (usually just called LETS) is a non-profit making association or club in which people, businesses and other organisations can trade goods and services using a "local currency" instead of, or as a supplement to, sterling. As a member, you pay for services and goods (such as gardening, home-made food or babysitting) using your local currency. Your LETS treasurer credits the person providing the goods or services, and debits your account, When you provide goods or services your account is credited.

The advantages of using LETS currency

> There is always enough money in the LETS economy. LETS currency is created as and when it is needed.
> There is no interest to pay as there is never any need to lend or borrow LETS money.
> There is no debt. A negative LETS balance is a "commitment" to contribute something to the community when the opportunity arises.
> Value remains within the LETS community. LETS currency simply circulates amongst the members. It does not "leak out" as does sterling when we use it.
> Members can get work done for which they do not have sufficient cash.
> People can put their skills to good use to the benefit of the local community.
> Members can develop new skills through training and workshops which can be paid for wholly or partly in LETS currency.

North East Dartmoor LETS

This is the system we use in Moretonhampstead. For more information about it phone Juliet on 01647 432649 or Mike on 01647433464 , bearing in mind these are home telephone numbers.

More information about LETS systems

LETS - an economics in waiting

or search the internet to find a LETS system near you...