Trading without cash - Accounts without interest
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What is HiLETS
|HiLETS is the name of Hillingdon Local
Exchange Trading Scheme.
It is a club where members agree to accept points instead of money from each other for goods and services which they buy and sell.
It is a partnership between the Council and the voluntary sector which enables people on any level of income, high or low, to work together without having to worry about money.
By inventing the Hillingdon Pound (H£) HiLETS can help people to get jobs done, buy items, have personal services carried out and a wide range of things that they would have done with real money - if they had any.
It is not a new idea. Neighbouring Hounslow, Ealing and Harrow all have LETS. There are about 400 of them around the country with Manchester having the largest one. They have been in existence in the UK since the mid 80s but their expansion is gaining momentum.
How does it work?
HiLETS can help you make your money go further.
Using Hillingdon Pounds makes more sense than using cash.
|As I said above, it is a club.
Contact Nicky Neary
The first thing to do is join. Membership is open to anyone who lives or works in the borough of Hillingdon. To join you just fill in the form and pay an £8 fee. This can be paid as
a) £8 cash,
b) £3 cash and H£5 (five Hillingdon Pounds) or as
c) H£8 (eight Hillingdon Pounds).
Once you are a member you have an account, like a bank account, with HiLETS. Of course if you joined using method b) or c) above you are already overdrawn. Dont worry because thats how the whole thing works! To get back the Hillingdon Pounds you have to do something for somebody else in HiLETS.
As you join you say what you are willing to offer to other members, it could be something practical like ironing, cleaning or gardening or it could be something more unusual like help with tracing your family tree, or offering an alternative therapy.
How do I know what people are offering?
|Every member receives a copy of the current
directory. This is a catalogue of what everyone is offering. Its a bit like Yellow
If you want something from one of the other members you just phone them up and chat.
We also organise activities so that members can come together to meet one another and to trade. There is a lot of trading in second hand items within the LETS movement. It means that people can sell things that they no longer need while others can buy the things they really want - without it costing them a penny!
Imagine an auction where you can feel free to bid without breaking the bank!
HiLETS holds auctions where members bid for items at Com.Café
You could walk away with a range of top class items without spending a penny.
For further information:
come to our regular meetings every Wednesday 11.00 am at
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