This report describes the development of a Local Exchange Trading System (LETS) in Winnipeg and the impact of the LETS upon its members. It sets this description within the historical context of local currencies, and previous developments in Winnipeg. LETS is a system which provides an internal currency for a group of people who trade goods and services with one another at the local level. The report traces the development of the LETS in Winnipeg, outlines its current activity level and reviews some of the members’ comments about its operation. The findings suggest the difficulties of successfully implementing a LETS that will have significant economic impact. It also suggests some of the challenges of involving those who are of low income and low education levels in the trading system. Responses from members suggest that the LETS helps to build community and neighbourliness.