Accounts fluctuate happily between debit and credit as trading continues. LETS allows people to realize the abundance which is theirs and to meet their daily needs with little or no cash. A negative balance means that ECOS have been issued to others, not borrowed from them. No individual is waiting to be paid up and no one has any claim to anyone else's assets. There is no interest on credit balances, and no interest is charged on negative accounts.
Regular meetings are open to all members.
Computerised records are kept of all transactions and an account is sent out to members twice annually. This fund is made up of ECO contributions from LETS members. It is designed to provide skills and services to people in the local community who, due to their frail age or disability, may not be able to contribute to the system. The variety of goods and services is as varied as the members at any given time. As the amount of money circulating decreases, so does trading.