About Local Exchange Trading Systems

A Local Exchange Trading System 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 is a truly international movement, although there is no global governing body. There are similar groups in places as diverse as France, Japan, the USA, and Hungary.
Closer to home, there are also LETS groups in Crediton, the Culm Valley, North Devon, Exmouth, the Otter Valley, Teignmouth/Dawlish, Totnes and North-East Dartmoor.

About Exeter LETS

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

Members list their skills, hobbies, or whatever they have to offer on their application form and these "Offers" are held in our directory which is distributed twice a year. On joining members are issued with a LETS "cheque book" which they can use to buy offers from other members for an agreed number of X's, and in turn can earn X's by offering time, goods, help, etc to other members. The X's treasurer acts as the "bank" and keeps records of who has what levels of X in their account.
To begin with, you do not necessarily need to earn X's in order to spend them - however, members are required to balance their accounts before leaving the scheme.

Exeter LETS also has arrangements in place to trade X's with other local LETS schemes (Culm Valley, Exmouth, North Devon, North-East Dartmoor, Otter Valley, Totnes and Teignmouth) and some local non-profit organisations as well, such as Exeter Green Party, St Sidwell's Centre, Exeter Green Fair, and the Board for Christian Care. Further trading links can be made as and when they are required.