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Exchange time instead of money to build a network of mutual aid and support within your community.

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Engage in a local exchange trading system where goods and services are traded without the need for traditional currency.

Local Money

Utilize complementary currencies to enhance local trade and economic resilience.

Savings Pools

Participate in interest-free savings and lending circles that foster trust and financial security.

Co-ops

Join cooperative businesses that are owned and managed by their members, ensuring democratic decision-making.

Social Enterprise

Support businesses that prioritize social and environmental goals over profit, creating positive community impact.

Support local small businesses for a thriving economy.

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Prioritize local businesses to strengthen the local economy and build community resilience.

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Promote the growth and consumption of locally sourced food to enhance health and environmental sustainability.

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Empowering Communities Through LETS

Discover how Local Exchange Trading Systems (LETS) foster sustainable and resilient communities by enabling cooperative trade without the need for money.

Understanding LETS

A Local Exchange Trading System (LETS) is a membership-based mutual credit system that facilitates trade using points instead of money. Members trade goods and services within a community, fostering connections and enhancing local resilience. LETS operate on principles of reciprocity and cooperation, allowing members to engage in interest-free credit transactions, thereby strengthening social networks and community bonds.

Why Choose LETS?

Benefits of LETS for Communities

Building Community Resilience

LETS connect individuals, creating a supportive network that enhances community strength and adaptability.

Highlighting Skills and Resources

LETS increase the visibility of talents and surplus goods, often overlooked in traditional economies.

Facilitating Cooperative Trade

LETS enable trade without money, fostering a spirit of cooperation and mutual aid.

Balance

Keeps the system in perfect balance, so that there is always exactly as much credit as is required to meet members' needs

Interest-Free Credit

LETS allow members to purchase on credit without incurring interest, promoting financial accessibility.

LETS build social networks based on reciprocity and informal agreements around the value of each trade. If you want to create new opportunities for the cooperative exchange of goods and services, LETS might be the right tool.

How does a LETS work?

Step 1

LETS is a membership-based organisation. When members join a LETS, they generally start with a zero balance and an agreed maximum line of credit.

Step 2

When two members agree to a trade, one is credited with the agreed amount of LETS points (or credits), and the other is debited the same amount. For this reason, a well-run LETS system will have an overall system balance of “zero points” at any one time.

Step 3

LETS often offers multiple ways to support trades. They may operate out of markets (for example, quarterly members' markets), and these may be social events as much as trade opportunities. LETS may have online spaces where people ask for help and offer goods and services. They may have a members' directory or newsletters to help connect members to each other.

Tax Compliance

Your Tax Responsibilities in LETS

LETS members are advised to pay taxes as they would for cash sales.

Alarm clock with a yellow sticky note saying "Tax Time!" for financial and tax season awareness.

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