Share of the Profits
Share of the Profits is going digital, through the new Your Co-op Rewards app. With a few taps, you’ll discover an easy way to manage your e-vouchers and so much more.
The guidance here will help you get the most out this exciting new chapter for Share of the Profits – and in turn, help members, too.
Below you’ll find all the information you need, from an introductory presentation explaining more about Share of the Profits, to redemption guides explaining how members redeem their e-vouchers in each of our different trading groups, to FAQs to support any questions you may have about the changes.
Take a look at our Share of the Profits presentation, by clicking here, to find out more about:
What are the Share of the Profits
Reasons why it's going digital
Where to find and how to redeem e-vouchers
To find out more about redeeming your vouchers, please refer to your relevant guide below. If your trading group is not listed then please refer to the presentation above and the Frequently Asked Questions box at the bottom of this page...
How to Redeem Your Vouchers
Frequently Asked Questions
What are the Share of the Profits and who is eligible?
Every time members shop with us and use their membership card, they earn membership points. Once a year, those points are converted into Share of the Profits.
This time, that share is based on points earned between 27th January 2019 and 25th January 2020.
Members can choose to use the share to spend in any of our trading groups, pay it into their share account, credit their energy or phone bill or donate it to charity. Each point is worth 0.5p.
How do members now receive their vouchers?
Members can download the Your Co-op Rewards app to view and use their Share of Profit e-vouchers.
Members outside of our core trading area will receive their voucher code(s) in their letter or email.
Not all members will receive vouchers. Some members have pre-selected to either donate to charity, credit their phone or energy bills, or have their money added to their share account. For these members there is no change.
Why have we moved to digital e-vouchers?
In October 2020, members voted to pay Share of the Profits digitally going forward, as we move to become a paperless Society. And so, this year, Share of the Profit vouchers are available through the new Your Co-op Rewards app. They’ll appear there as e-vouchers and will be available to members from 23rd March 2021.
Where can members spend their e-vouchers?
Members can redeem their e-vouchers in the following businesses operated by The Midcounties Co-operative:
Co-op Food – scan in store
Co-op Travel – redeem in branch or with your Personal Travel Agent
Co-op Childcare – redeem in nursery
Co-op Funeralcare – redeem in branch
Members have already selected to credit their energy or phone bills.. Members cannot change their payment choice to Energy or Phone for this year.
They cannot be redeemed in other co-operative societies.
How do members redeem their e-vouchers in my Group?
There is a specific redemption guide for each Trading Group on how members can redeem their e-vouchers in each Group, located above on this page.
For members who have selected to credit their Energy or Phone bills, there is no change. This will be paid by the end of April.
How do members download the Your Co-op Rewards App?
Downloading the app is easy. Members just need to search for ‘Your Co-op Rewards’ on their app store – as shown below - or use the QR codes provided in the letter or email to them.
How do members sign into the Your Co-op Rewards App?
To sign into the app members will need their email address or membership number, and password.
If they are: unsure of their details or have never set a password, they can click on ‘Unsure of your login details’ on the home page of the app. All they will need is their postcode and membership number, which they’ll find on their membership card, or in the Share of the Profits communication they’ll receive from 23rd March.
Additionally, members can also use the ‘Having trouble logging in?’ link in the app home page, which leads them to more detailed guidance.
Why can’t members see the other features of the App?
At this stage only colleagues will be able to see all the features on the Your Co-op Rewards app. This is because we wanted to give colleagues priority access as a reward for shopping with us and being valued colleague members.
We will be announcing the launch of the full Your Co-op Rewards app to all members at the AGM in May.
Will members earn stamps?
While the app’s full features are only available to colleagues, members will not earn stamps in the Your Co-op Rewards app – and they won’t be able to until the full app launch to all members. Colleagues will still earn stamps for every £10 they spend with us in Food, Energy or Phone.
Members and colleagues will both continue to earn Share of the Profits points.
What if a member has not received their Share of the Profits communication?
Members will receive their communication - either a letter or email - about Share of the Profits from 23rd March 2021. This will be in a phased approach over approximately four to five weeks.
If members have not had any communication by the end of April, they should contact the Membership Team. However, until then, please advise members that they will receive communications over this period.
What if a member is unable to download the app?
In communications to members, we will explain the other options available to them if they are unable to download the app. Please refer members back to their letter or email communication.
Can e-vouchers be exchanged for cash?
Vouchers can no longer be exchanged for cash in any of our stores
What is the expiry date on the e-vouchers?
The expiry date on the e-vouchers is six months from issue date – which is October 2021.
Once expired, the e-vouchers will be removed from the Your Co-op Rewards app. If a member has not used their e-voucher, their money will be automatically added to their share account.
Where should I direct members for more information?
We have provided guidance similar to this in members’ communications – and there is further information on our website, too. If members have any further questions that is not covered by the guidance, or that you cannot answer, they should contact the Membership Team on 0800 435902 or firstname.lastname@example.org.