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New Moray LETS

Member Stewart Noble writes from Forres:


Members of a Local Exchange Trading System in the North of Scotland have now exchanged more than half a million LETS since the project started in June 1997. A LET is a Local Exchange Token which is 'paid' to another member in return for a social favour. They can then be 'spent' with any other member. The tokens are interest free and go around and around creating a chain reaction of Goodwill and Trust within the community, getting jobs done even when there is no cash. Other folk ask 'what's your secret?". "Is it that there is so little cash and job prospects in Forres? Is it because it's the town with the second highest personal debts in Scotland? Is it because your town is so beautiful or the folk so friendly?" Or is it the fantastic community spirit brought about by so many different folk working together?


It's all of these things of course, and New Moray LETS is giving hope to communities everywhere. Our community exchange system will provide a safety net if there are further global repercussions in the monetary system. Within 5 years, the system is now almost entirely cash free. 'All of the skills and resources we need to be sustainable as an organisation are now provided by local folk and organisations for LETS and we are no longer reliant on external funding sources' said Stewart Noble, the founder and designer of the system.


Behind the impressive numbers are the thousands of little things which the 370 members have done for each other. These include child care, car share, gardening, home help, therapies, home made arts & crafts etc. It's heartening to know that we haven't yet lost of all our traditional skills and are still so willing and able to share them. The group are commissioning a Social, Environmental & Economic report (S.E.E.) in Spring to quantify the forty thousand transactions local people have done for each other without relying on cash or volunteers. The trading system model is now the most dynamic in the UK and the group are hosting their Christmas trade Fair in Forres Town Hall on 15th December. Its already a sell out. For an insight into how abundant life can be without cash pop along if you are in the area.



For further information, contact:
Stewart Alexander Noble
Tel: 01309 - 676128

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Company Registration No. 278156. Scottish Charity No. SC 029210