LETS is an acronym for Local Exchange Trading
System which allows trade in goods and services without
the use of money. Members of the Findhorn community along
with people in the local area participate in two local LETS
schemes, Findhorn and Kinloss LETS and New Moray LETS, the
latter currently the most active LETS scheme in Scotland.
In 2002 we floated the
Eko currency scheme, a local system of exchange. Ekos are
valued at par with sterling, i.e. 1 eko = £1, and
notes are in one, five, and twenty denominations. Guests
visiting the community can purchase the notes and use them
at participating community organisations. The main purposes
of the scheme are to encourage trading with and between
community businesses, reduce banking and interest charges,
and provide community projects with access to low interest
capital.
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