how we work out your share

There are lots of places you can earn points with The Co-operative Group. From our high street businesses, like The Co-operative Food or The Co-operative Pharmacy, to The Co-operative Bank, our internet bank smile and The Co-operative Insurance – choose The Co-operative each time you shop, and you’ll see the points quickly mounting up.

When we know how much profit we’ve made throughout the year, we’ll convert your points into pounds and pence. You’ll get a payout twice a year, in June and November.

  • Your payout in November is an interim payment which normally gives you 1p for every point you have. These points are calculated from what you spend with us from January through till June
  • The following June we’ll then work out our total profit, do the final sums and pay you the difference. For example, in June 2009 every point was worth 2p. Your points this time are calculated from the previous year, January to December. If the value of a point in June is worth more than that of November, we will make up the difference.

Here’s an example to help:

Let’s say you spend £20 on the weekly groceries at your local The Co-operative Food store. So at the end of the year you’ve spent £1,040 on food. That makes a total of 1,040 points (520 in the first half of the year and 520 in the second half).You book a last minute holiday and spend £500 with The Co-operative Travel in February giving you 500 points.In September you buy a £400 television from The Co-operative Online Shop which gives you 400 points.That makes a grand total of 1020 points earned between January and June. 1940 points earned over the whole year.Our sharing. In November, we make you an interim payment. This is usually based on 1 point = 1p, which means you receive £10.20. The following year, we calculate our profits for the year and find that each point is actually worth 2p, so your 1,940 points are worth £38.80. So, as we already paid you £10.20 in November, the following June we’ll send you a final payout of £28.60. Not bad just for doing your usual shopping!

How much does it cost to become a member?

£1 is deducted from your first share of the profits payment and held in a share account. If you choose to cancel your membership, your £1 is returned or donated to The Co-operative Membership Community Fund.


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