Central Co-op splits £654,000 between members in latest ‘share of the profits’ payout
Central Co-op has revealed that it has shared out over £654,000 among 129,500 of its members as a reward for their loyalty, along with personalised vouchers for members to access more savings on their festive shopping.This brings the total of profits shared with members in 2022 to almost £1.2 million.
Twice a year Central Co-op pays a dividend to eligible members of the society based on how much they’ve shopped in stores in the previous six months. The share of the profits is available to members who’ve earned at least £1 worth of points (100 points).
The continued support of its members allows the society to invest funds into important community projects through its Community Dividend Fund which supports hundreds of local good causes each year, the group said.
Rajesh Gupta, chief member and customer officer, said: “With the cost-of-living crisis affecting all of our communities, we’re pleased to provide a reward for member loyalty that should ease the burden a little.
“Membership is at the heart of the society and we wouldn’t be where we are without each and every member, so we’re pleased to be able to give back.”
As the cost-of-living crisis tightens its grip on communities, Central Co-op has also cut prices on over 50 everyday essential products in its stores to support its members. Members can now save over £22 on the products included in the special offer, which includes a range of essential products like cheese, tea bags, pasta sauce, eggs, and milk, reducing some items by as much as 43%.
Central Co-op is one of the largest independent retail co-operative societies in the UK, with a heritage stretching back over 175 years and interests in food, funeral, floral and property investment.
Owned by hundreds of thousands of members, its 7,700 colleagues serve customers across 440 plus trading sites in 19 counties in the East and West Midlands, Yorkshire, Suffolk, Norfolk, Bedfordshire, Cambridgeshire, Oxfordshire, Gloucestershire and Wiltshire.