EXETER Local Exchange Trading Scheme
About Exeter LETS - and How to Join
A Local Exchange Trading System (LETS) is a local, non-profit exchange network where all kinds of goods and services can be traded without the need for money, using an interest-free local currency – in our case, the EXE (or X) - so that direct bartering does not need to be done. It offers many social as well as economic benefits, through regular core group meetings, trading days and social events. LETS can help a wide cross-section of the community to save money and resources and extend their purchasing power as well as providing for social contact, support for local enterprise, and fun.
LETS is a truly international movement, there is no global governing body, but national and international networks exist and Exeter LETS is a member of LETSlink UK. Exeter LETS is based in Exeter in Devon, UK - other LETS groups exist in different areas, see UK map, and check our own map page for location. Exeter LETS was started in 1993 and currently has around 80 members. We are informally managed by a “Core Group” that handles the administration of the organisation, and any member can stand for election to the Core Group at one of our AGMs.
How it Works: Once they have an account in the system, members have access to their own "Profile" where they can keep their personal details up to date, write some introductory details about themselves, upload a photo and list their skills and hobbies as "Offers" as well as any particular "Wants". They can use their account to buy offers from other members for an agreed number of Xs, and in turn can earn Xs by offering time, goods, help, etc to other members. To begin with, you do not necessarily need to earn Xs in order to spend them - however, members are required to balance their accounts before leaving the scheme.
Not Online? X vouchers are available to purchase at Trading Days. Members who are not online can also obtain a LETS "cheque book" to use for trading, and any cheques received can be handed in at a Trading Day. The Xs treasurer acts as the "bank" and can enter transactions on the system on behalf of members. The system keeps records of trading, and this information is available to all members via the Transactions link.
Trading with other LETS Groups
Joining Exeter LETS