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Local Exchange Trading Scheme (LETS)

Local exchange trading systems now exist in many countries.
 
LETS is a fully fledged monetary or exchange system, unlike direct barter. LETS members are able to earn credits from any member and spend them with anyone else on the scheme. Since the details are worked out by the users, there is much variation between schemes.
For instance, a member may earn credit by dog-walking or snow clearing for one person and spend it later on cooking or tutoring with another person in the same network, or they may spend first and earn later.

The United Kingdom has several LETS systems, many loosely affiliated to LETSLINK UK.

LETS can help revitalise and build community by allowing a wider cross-section of the community—individuals, small businesses, local services and voluntary groups—to save money and resources in cooperation with others and extend their purchasing power. Other benefits may include social contact, health care, tuition and training, support for local enterprise and new businesses.

A thriving Lets scheme operates in Wellington Heath which has brought village members closer together. It was set up with the inspiration and help of  Wendy Hill. The members range in age from mid 20s to 80s and pay each other in wellies, the local currency.

Members live mainly in Wellington Heath, with a handful from Ledbury and Coddington.
We have different skills, talents and produce that we offer to fellow members, and we pay each others time in "Wellies".
Materials are paid for in sterling, after discussion between the two traders.

We have regular social meetings to give members the chance to get to know each other.

Popular services are dog/cat feeding and plant watering during holidays.

We also have members who will knit for you or let you have a game of tennis on their tennis court.
It is up to each member how active they want to be.
The more you advertise yourself, or the more requests you make, the busier you will be.
There is no pressure on anyone.

For more information contact Ursula Tel: 078840 51552 or ursulaa@hotmail.co.uk  or one of the following committee members

Wendy Hurley   - wehurley@gmail.com
Jennifer Jones (also provides application forms)   - dualsportmotorcycles@live.co.
Ann Shorrick    -  simon.shorrick@btinternet.com
Jenny Mackie  -  mackieij@aol.com