Our Remarkable History

In 1997 a group of local people in Forres formed a Local Exchange Trading System to trade and share skills and resources without cash. They elected a Core Group – the management team who would carry out the essential tasks. Every 3 months, the group would produce a Directory of Members Offers and Wants. These were also advertised on the LETS Community Noticeboard in Forres House. People traded, the currency flowed between members and the membership grew.

The Core Group produced Newsletters and distributed these around the members. This Directory also includes each members current balance and turnover – (the combined credits and debits earned or spent). The Core Group also kept the cash and LETS accounts up to date and organised Social events and Trade Fairs. New Moray LETS is a local, non-profit making, co-operative. It is managed by elected local folk for local folk.

More recently we have created a private facebook group to allow members to instantly trade on-line. With most members now using facebook, we agreed to produce an annual paper directory instead of every 3 months, saving time, energy and paper.

The group started with no money but instead used its own local currency to trade and pay people. New Moray LETS is proud that it has sustained itself without external funding ever since. We are a pragmatic group and prefer to have our meetings and do the essential work in our own homes rather than rent and manage an expensive office. Since then we have helped our members trade almost 2 Million LETS (equivalent to around £2,000,000) so far. Saving local folk cash to pay for other bills and creating sustainable friendships along the way.

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