Share of the Profits is here

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Published 16 Nov 2021 in Colleagues

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Members who are due to receive a Share of the Profits will be communicated to in a phased approach starting from Wednesday 24 November across a 4-week period.

All the information you need to be able to support members on accessing and redeeming their e-vouchers can be found on our dedicated How-To section on Share of the Profits here.

What are Share of the Profits?

Every time you – and members – shop with us and use your membership card, you earn membership points
Once a year, these points are converted into Share of the Profits.
This time, that share is based on points earned between 26th January 2020 and 23rd January 2021
Members can choose to use their share to spend in any of our trading groups, pay it into their share account, or donate it to charity

What’s different this time?

This year, we’ve made it even easier for members to use their dividend – members will be receiving their dividend in a number of different ways depending on what they have previously selected and where they shop with us.

If members are energy or phone customers and they do not have the Your Co-op members app, we will be crediting their Utilities bill directly – so they don’t need to do anything.

The member receiving vouchers will do so via:

The Your Co-op members app
Voucher codes
Paper vouchers – when specifically requested

The table below shows where each of the vouchers can be spent:

Trading Group (Midcounties)	Your Co-op members app	Paper vouchers	Voucher codes
Co-op Food	✓	✓	✕
Co-op Travel	✓	✓	✓
Co-op Childcare	✓	✓	✓
Co-op Pharmacy Online	✓	✕	✓

What have we improved this time?

We had a lot of positive feedback earlier in the year when we issued Share of the Profits. We also had 3 key areas that we wanted to improve upon this time around:

The experience for our non-digital members – this time we are using the information we have on members to make it even easier for them to use their dividend. This means that our non-digital members will not miss out.
The experience for members not in our trading area – again using the information we have on our members; we have been able to tailor payment choices. For members who are receiving e-vouchers and who are out of our trading area, they can still redeem vouchers in Travel, Childcare and online Pharmacy.
The time taken for members requesting alternative payments – we’ve reviewed the options we are offering this time and have automated processes in place to ensure that members can easily request a different payment choice (if they are eligible) and receive their dividend quickly.

Where can you find out more?

You can find more information by clicking here, including:

Slides re-capping what Share of the Profits is and how members receive their dividend
Guides on how vouchers are redeemed in each trading group
FAQs

Join the Conversation

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Caroline Baxendale (TRAVEL) 18 Nov 2021 13:56

Why is that staff and members out of the Midcounties trading area are no longer able to use their digital thank you vouchers in the food stores (whether its a Midcounties or Coop group. ) I could not understand why I had no bar coded vouchers (like we always had in paper form) and only Alpha codes which are only redeemable against a holiday or pharmacy. I've always spent mine in food and feel penalised when other staff can do this .

Daisy Clifford 19 Nov 2021 10:01

@Caroline Baxendale (TRAVEL) Hi Caroline, paper vouchers should only have ever been used with Midcounties and not in any other co-op store. Barcodes are, therefore, provided to members who live near one of our food stores or have traded in a Midcounties food store in the last couple of years - to stop them being used with other co-ops.

Caroline Baxendale (TRAVEL) 23 Nov 2021 14:47

@Daisy Clifford Hi Daisy, I've always used the paper bar coded vouchers in my local Coop Group food stores. I've been doing this for the past 10 years along with my colleagues and never been refused. Our clients who are members have also always done this. This was never an issue and was encouraged . We do not live near Midcounties Food stores, so this was how we spent our vouchers and never been questioned. Even now, digital bar coded vouchers are being used at coop group by 2 colleagues.

Kelly Mason (CHILDNURSE) 16 Nov 2021 15:47

So we will we still get them sent as paper vouchers as well.

Daisy Clifford 16 Nov 2021 18:40

@Kelly Mason (CHILDNURSE) Hi Kelly, we will still be encouraging members to go digital and to use the Your Co-op members app wherever possible but appreciate that this isn’t the best option for all our members. We are sending paper vouchers to members who requested a gift card last time we issued Share of the Profits and to those members who specifically request them this time around. The paper vouchers can be used in any Midcounties food store, travel branch or in one of our nurseries.

Richena Weaver (FOODRETAIL) 17 Nov 2021 22:27

@Daisy Clifford How will non digital customers get alerted to request paper vouchers? And will customers who have the app on a home device only and not a portable smart phone be alerted to the paper option?

Daisy Clifford 18 Nov 2021 13:25

@Richena Weaver (FOODRETAIL) Hi Richena, we are paying members across a variety of different ways to make it easier for them to use their dividend, this and the other options available to them, will be explained in the letter or email members receive from the 24 November.