The LETS Community Bank and how we are different…

Our accounts are open and transparent. We publish peoples balances to help them to trade fairly.
We don’t charge interest- It’s wrong (usury) and clearly unsustainable.
We don’t sell your credits to third parties. (the banks sell 90% of your money – usually to out of town corporations.)
We help our members to trade with each other and to keep in balance.
We don’t gamble with your money.
We only charge fees to cover cost of service (presently 4L per 3 months). This pays for accounts management, all transaction recording, The LETS Directory, Member support etc
All LETS are recycled indefinitely within the membership.
There is no leakage to out of town interests (fat cats)
All Core Group workers get paid the same cooperative rate of 10L per hour. (No fat cats)
We have been trading for 15 years with little bank money and we won’t go bust.
We have processed over 1.5 Million LETS so far. Why aren’t other banks like this?

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