Ryde Town Counillors officially launched the Ryde Timebank during a meeting on Thursday.
The time bank aims to strengthen community ties, and joins a national network supported by Timebanking UK.
Ryde Timebank brings a fresh approach to connecting people through the exchange of time and skills to the people of Ryde and joins a growing timebanking community on the Island.
Ryde Timebank embodies the spirit of neighbourly support, by providing a platform for people to give and receive the help and support they need.
In timebanking there is no need for the exchange of money, emphasising the inherent value of time and human connection.
Liz Dutton, part of the Ryde Town Council Community Development Team said:
"We're thrilled to introduce Ryde Time bank, where every hour contributed is an investment in our community. While timebanking isn't new to the Isle of Wight, we know that by focussing on the power of personal connections we can empower our community."
Ryde Timebank extends an open invitation to all to join as an individual, community organisation or business. From sharing hobbies to tackling DIY projects, providing companionship, or running errands, there's something for everyone to contribute.
Anyone interested can visit the website at rydetimebank.co.uk.