Welcome to Isle of Wight LETS
What are LETS?
Local Exchange Trading Schemes enable people to exchange their time and skills with each other without money. Groups adopt a particular name for their own local currency. The common currency for UK groups is the "link", and we will adopt this name for the time being. LETS encourages mutual help in the community and the possibility of creating an "alternative economy" based on need.

How do LETS work?
• Members identify skills they wish to offer and their current requirements for goods and services, which are listed and circulated in a directory or via a LETS web site.
• Members contact each other directly, arrange a ‘trade’ amongst themselves and agree a price in LETS credits, which are transferred online or by writing out a LETS cheque paid into and debited from members’ personal accounts by the LETS trading accountant. Vouchers can also be used - especially for trading days.
• Members may view or receive statements and newsletters, and social events take place, often hosted by individual members, where people can get to know each other and discover new opportunities for trading.
• The scheme is managed by an elected committee.

LETS is • non-sterling, interest-free and debt free
• a local skill-sharing pool • an enriching, supportive network
• a cash-saving resource bank for charities and organisations

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