28 Maple Street, MALENY
Queensland 4552, Australia
Phone: (07) 5494 3113
Email:lets@mena.org.au

What is LETS : Local Energy Transfer System
(Often called Local Employment Trading System too, here in Maleny we transfer community energy around, everyone is employed doing something!)

Often people ask "What is this LETS system?" The Maleny LETSystem is similar to the neighourhood trading system that operates in local communities everywhere. You help a neighbour out one day and they return the favour the next, or you barter a load of firewood for some fresh eggs and vegies.

The LETSystem takes this one stage further by recording your work/energy or goods exchanged in local units or tokens - Bunyas in our Maleny LETSystem. This means that you are not just dealing with the person you traded with, but with the whole community of LETS members. You can now get help or services from someone even if you have nothing to directly offer them. You aknowledge them so many Bunyas and then you owe goods/services or energy to the same Bunya value to the LETS community. At a later time you can then help or trade goods with someone else to pay back your community commitment.

Unlike money systems the LETSystem has no interest for credits or interest charges for debits or pay back time limits. Members can trade when they really need the services. No need to put off doing things or face hardships while saving for a project.

Besides the recording system another major aspect of the LETSystem is the Notice Board. The Notice Board is like a "Yellow Pages" listing of skills, goods and services offered by members. The listings also have "wanted" or requests for goods and services. Members can just check the listings and then contact the member directly to take part in LETS trading. Each month the members each receive any updates and new listings together with a statement of their transactions and their current Bunya balance.

This transfer of energies within our local community is what LETS is all about and gives rise to its name: Local Energy Transfer System.

• LETS is a non-profit Community Exchange System of sharing local skills and services.
  
• LETS is based on the idea that ALL people have valuable skills and services to offer to their community, whether they are running a small business, self-employed, currently out of work, elderly, infirm or employed.
  
• LETS is a brilliant way to create employment, get those long neglected jobs done and help other people in need, by making use of the communiy's true wealth - the skills and services of its people without the use of money.
  
• LETS also operates something like a community bank. Each member can open an account and use the mutual credit system to trade locally with other members when acceptable. Members are free to use the local units in any way that supports trading in the community.