CamLETS is a thriving Local Exchange and Trading Scheme (LETS) for the Cambridge (UK) area established in 1993. CamLETS enables members to exchange skills and goods using a digital complementary currency. You get things done for yourself by doing things for other people. We welcome members from all over the Cambridgeshire area and all kinds of skills are both valued and needed. Trading events that are open to prospective members are normally held on the first Saturday or Sunday of each month.
LETS was first coined by Michael Linton who created the Comox Valley LETS in Courtenay, British Columbia in 1983, though there is a long-established history of communities creating local currencies to enable trade during times of financial instability and challenge. It is a way a community can trade skills, services or goods without needing or using the national currency. It's a bit like a barter system, but you don't have to do a direct swap - instead, you use a currency called CAMS.
CamLETS is run by members, for members.
Core group (members only link)
Why have a Local, Complementary Currency?
- Enhance Your Prosperity
- Build a Sustainable Community
- Utilise Your Talents
- Nurture the Unique Quality of Your Neighbourhood
- Have Fun
Frequently Asked Questions
Got a question? Get in touch, we'll try to answer it. There are more Frequently Asked Questions for members.
- What skills can I offer?
- Anything you like doing, or are good at. If you have difficulty thinking of ideas, have a look at what other members offer.
- I don't have much time - can I still join?
- You can use CamLETS as often or as little as you wish.
- How do I use 'cams'?
- If you do something for another member, the rate is usually 10 cams per hour. They will either fill out a row on a spreadsheet at a trade event, or record it as a transaction directly on the website. The amount will then be credited to your account.
- Are transactions taxable?
- Almost all LETs trading is of an 'occasional social favour' type and not taxable. Only if you trade in cams as part of your regular business would you be liable to tax.
- Suppose I get into debt?
- Since no 'money' is printed and everyone starts at zero, the whole system always has the same amount in credit as in debit. If you go too far into debt you will be asked to earn some cams; similarly, if you start hoarding too many cams you may be asked to start spending!
- Can't the system be abused?
- Not really, because it's a social network and there are safeguards (for example all accounts are published and all members sign a membership agreement on joining). Also any temporary bad debt does not affect any individual member; no member loses credit for work done.
- Can I buy and sell things as well as my time/skills?
- Yes, and you can advertise in your listings, which are broadcast out to members by email every week, or at one of our social gatherings. You will also have access to our private groups on Facebook and WhatsApp and share pictures.
Page last updated 21/11/22 by CT