In fact, the more people that join and participate in L.E.T.S., the better it works, since a greater variety of services and goods are made available to all L.E.T.S. members. L.E.T.S. operates and publishes an accessible noticeboard in which people in the community can advertise goods, skills and arts that can include, for instance. anything from carpentry and baked goods to education and paintings. People can also advertise for the kinds of things they need. Members can call 249-LETS anytime of the day or night to record their transactions and place their ads on the noticeboard. A member opens an account and uses green dollars, the units of exchange, to trade locally with other members.
Account balances can be positive or negative, and no interest is charged or paid on balances.
Members are given a monthly statement outlining their account activity and balance. It enables you to buy from people in the community whom you can trust It provides opportunities to make new contacts, and new friends. Normally, enough federal currency would have to be charged on taxable transactions to cover taxes. However, L.E.T.S. does not police account holders who are free to trade as they see fit. The Co-operative shall serve as an agent for its members.