VicLETS How it Works

We are a community of people who have collectively created and use an alternative form of economic exchange.

We barter goods and services directly and use a virtual currency called Green Dollars as much as possible instead of Federal currency (the metal and paper some people have in their pockets or banks).

LETS is an acronym for Local Exchange & Trading System. This model was created in 1982 by Michael Litton in Courtney, British Columbia, Canada. Since then many hundreds of local community currencies like ours have sprouted up all over the world. Some groups have thousands of members! Victoria's LETS has been active since 1983.

LETS is a collective of unique individuals. We all come together with similar values and different reasons.

Some members use LETS because Federal money is in the hands of a few, and everyone has access to Green dollars.

Others use LETS to start their business or network with others with similar community focused values.

And some members use LETS to make positive change in the world. Poverty, globalization, society and earth harming actions are linked to the prevalent Federal system. You can pull yourself off the destructive economic grid by becoming an active LETS member.

LETS is a healthy, just, sustainable and democratic form of economic relationship.

Our system builds trust and supportive relationships between people.

Their is no scaricity of Green dollars. You can immediately go below zero. A negative balance represents what you have received and agree to offer back to the community. When you make a transaction you immediately create currency!

LETS does not reward surplus Green dollars nor penalize you if you are below zero (no interest).

Green dollars builds our reliance upon local community resources. Green dollars stays within our community. Their ‘value’ is determined by the members.

LETS is cooperatively owned by all members and run by volunteers. We make decisions publicly and by consensus.

You need to become a member to have an account. Then you can post offers and requests of goods you make, items to sell or services in the Noticeboard. Offers and requests must be at least 50% Green dollars. Exchanging in 100% Green dollars is encouraged.

We host monthly potlucks and trading circles which helps trading and building relationships.

When you make a trade you instantly create Green dollars. You can go above or below zero. There is always enough Green dollars. Green dollars are valued at par with Federal dollars.

You record trades online or via phone on our LETS database. Names and numbers are only available to members.

This belief is the most common barrier to joining LETS. We believe everyone has something to offer! Some strategies are:

* develop a list of personal assets, hobbies, passions or interests that you could offer. You don't need a degree to be skillful or knowledgable about something.
* make items or grow food
* read the noticeboard offers and resouce list for ideas.
* read and respond to noticeboard requests
* speak to other members
* come to potlucks to hear requests
* offer time

Very different than banks, LETS sees our assets as people!

Membership is free. However, membership comes with responsibilities. Please read the Membership Agreement.

If you feel you can abide by these guidelines, then to become a member simply fill out the registration form here.

Your account will be activated by a LETS Council Member within a few days, at which time you can access all membership functions on this website.

To add, delete or edit your listing click Listings under your Member Links.

Your listings should consist of both offers and requests for either goods or services.

In certain circumstances you might want to make your offer an auction or a "buy it now". These types of listings are good for one of a kind offers.

A "buy it now" is simply a feature that automatically deletes your listing after your item or service is purchased.

Auctions allow members to bid on your listing. An auction can have a "reserve price" which is the minimum amount you will sell it for.

A listing can also be both an auction and a "buy it now" - for example, you could list your couch as an auction with a reserve of $100 and a "buy it now" price of $300.

Provide as much information about your item or service as you can.

Add images and colors - make it big bright and bold!

Finally, please keep your listings up to date. Be sure to delete the old offers and requests.

Browse the listings here. You can search by category, price, etc.

It is best to contact the member before recording the trade online. You can do this by email, phone or by making a comment on their listing.

The transaction form, which records the trade, can be found on the listing itself or the member's profile page.

Some listings are auctions or "buy it now" which require only a simple click to complete but again it's best to contact the seller first.

You can check to see if there are upcoming events here.

Potlucks are often the best way to meet members and start trading.

LETiquette is an ongoing dialogue about ways LETS will function best. Submit changes & suggestions by attending a council meeting or through the AdminisTRADER ad...@lets.victoria.bc.ca

a) the value of a green dollar transaction is the equivalent of federal value
b) green dollar value goes up if we aim for 100% green transactions. The aim of LETS is to provide an alternative to the federal dollar system and not about using LETS to make federal money. (If you do need to charge Federal dollars it should not exceed the actual Federal costs of the materials).
c) As LETS members we are pioneering a new form of economic relationship that is free of the inequity, skewed values, greed and usury of the Federal economic system.

a) respond promptly to offer and request calls from LETS members, even if that service or item is not available at that time.
b) follow through on commitments to one another.
c) a LETS customer is as valuable as a regular customer.
d) LETS currency is as legitimate as Federal currency.

a) in your own way connect with people on more levels that just the trading.
b) everyone in LETS is a ombuddy- encourage dialogue around how LETS can grow and be better.
c) accept when a member is unable to offer listed services, as needs and availability change.
d) call new members to see if they need some support around the use of LETS, what to offer in the noticeboard, recording trades etc.

a) seize opportunities to distribute our information (like at events that would attract sustainable and ecological people).
b) inform and encourage the businesses you respect and frequent to become LETS members.
c) share LETS information within your social circles.
d) every member in LETS is an outreach person- photocopy extra pamphlets and 1st pages of the newsletter & noticeboard.

a) Those who hold potlucks will be honoured $25GRN for their time and energy
b) It is the responsibility of the potluck holder to initiate and host (or find someone at potluck to) a Trading Circle (a circle in which people announce services/goods offered, and needs)
c) It is the responsibility of the potluck holder to announce: upcoming LETS events, next potluck, and volunteer positions needing to be filled (information will be found in newsletter).
d) Potlucks are open to one and all; invite family, friends and interested potential members.
e) Bring your own plates and cutlery to someone else’s potluck
f) Bring a good food dish to share (write a list of ingredients to acknowledge other’s lifestyle choices or allergies)

a) LETS is run solely by volunteers. It is an expectation of all community members that some contribution is made towards the functioning of LETS.
b) You have the opportunity to reduce/eliminate your Green dollar fees through volunteering.