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:
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.