If you're a member of The Co-operative Group, you can earn points on many of our products and services which contribute to a share of profits paid to you twice a year in June and December. What's more, if you already have products and services with The Co-operative Bank, smile or Co-operative Insurance (CIS) you could be earning points on some of those too!
How do the points work?
In most cases members will receive one point for each pound they spend in our family of businesses (pharmacy, travel, food and funeralcare). The exceptions to this apply when awarding points for doing business with The Co-operative Bank, Co-operative Insurance (CIS) and smile.
For products held with Co-operative Insurance, The Co-operative Bank and smile, members will be awarded points based on the products they hold, as follows:
- 1 point for every £10 held or borrowed on average in
Co-operative Bank current or credit card accounts - 1 point for every £10 outstanding on a Co-operative Bank loan
- 1 point for every £20 held on average in a Co-operative Bank savings account
- 1 point for every £40 outstanding on a Co-operative Bank mortgage
- 1 point for every £10 borrowed on average in Co-operative Bank flexible loan accounts
- 250 points for holding a Co-operative Insurance (CIS) home or motor insurance policy
Points will be awarded pro rata for the first half of the year. For example, a home or motor insurance policy held for six months ending 30th June will earn the member 125 points.
Remember, the more members spend, the bigger their share of our profits will be. By using their membership card they can convert their purchase to points, which get converted to pounds. See the example below.
| Trade | Points earned | Amount earned |
|---|---|---|
| Spend £10 every week in a Co-operative food store for a year | 520 | £10.40 |
| Spend £1000 on a holiday with The Co-operative Travel | 500 | £10.00 |
| Have a £90,000 mortgage with The Co-operative Bank | 2,250 | £45.00 |
| Have an annual car or home insurance policy with The Co-operative Insurance | 250 | £5.00 |
| Total share of Profits* | £70.40 |
*This example is for illustrative purposes and shows what a member will have typically received for their 2008 trade when a point was valued at 2p. The actual value of a point will vary each payment.
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To see our full terms & conditions click here
* For a full year. ‘Share of profits', being mailed in June, will be based on trading in the second half of the previous year. Payment in December will be based on trading in the first half of that year.
