UK Local Exchange Trading and Complementary Currencies
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AVALON FAIR SHARES launch on March 21st 2004 at the Glastonbury Town Hall, signals co-operation between LETS and Timebanks in the UK - see news item

US millionaire launched community currency in Somerset - American millionaire businessman Richard Rockefeller, trustee of the Rockefeller Family Fund (, is coming to the UK especially to launch Avalon Fair Shares, a new LETS and Time Bank scheme in Glastonbury - part of a worldwide local community currency movement.

Mr. Rockefeller supports community currencies throughout America, and is the founder and president of the Maine Time Dollar Network USA (
The Glastonbury project, which is the first combined LETS/Time Bank to open in the County of Somerset, works by encouraging people to exchange their goods, skills, and services to benefit others within their community.

Guests came from all over the UK, and even as far a-field as Africa and the USA to the launch celebration event that took place on March 21st at the Glastonbury Town Hall. Mr. Rockefeller will be the main speaker at the event, with other guests including the Mayor of Glastonbury, Honorary Secretary of Letslink UK, and representatives of Funding Bodies which are supporting the scheme.

Community Currencies have been operating in the UK since 1985, and there are 100s of projects operating nationwide. Anyone from the Glastonbury district can join the local scheme, and can ask for help from day one.

Avalon Fair Shares worker, Jon Cousins, explained: “When you join the scheme, we will open an account for you, your transactions will be recorded and we will send you a regular statement of what you have given and received. We have a local information system about who can do what, who is available when, and who has special needs, so that you can find out what is on offer. Put simply, you trade when you want to, doing things you enjoy and you receive the opportunity to get something back when you need it - and satisfaction from making life better for someone else.”

The project is funded by grants from the BBC TimeBank, The South West Regional Development Agency’s SRB6, the Learning & Skills Council, Somerset County and Mendip District Councils.

If you would like to join the scheme, or for more information, please contact Avalon Fair Shares on 01458 830304 write to them at: Avalon Fair Shares, The Development Centre, Abbey Mews, Glastonbury, Somerset. BA6 9DY



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