Your Share of the Profits are here!

Eligible members will start receiving their Share of the Profits from 21st November (over a 4-week period). Read today's story to find out more about this year's distribution.

What are Share of the Profits?

We believe in being fair to all of our members, that’s why everyone is eligible for their share of the profits with our points system.

Every time a member uses their Midcounties membership card, they'll earn membership points. These points are then converted into vouchers each year. These vouchers can then be spent in any of our shops, branches or online services, transferred into a member share account or even donated to charity.

 

Why do we distribute a Share of the Profits to our members?

As a co-operative, each member owns an equal share of our business, so it's only right that we share our profits with our members. The money members spend with us helps us do some amazing things like supporting charity partners & community groups in our local communities. The more a member trades with us, the more points they earn towards their Share of the Profits.

 

How much will we be distributing this year?

This year we will be distributing over £1.1million to around 155,000 members.

 

Who receives a Share of the Profits?

Members who traded with us between 24th January 2021 and 22nd January 2022 will receive a Share of the Profits based on their points balance.

 

When will members receive their Share of the Profits?

Members who are due to receive a Share of the Profits will be communicated to in a phased approach starting from Monday 21st November across a 4-week period.

 

How will members receive their Share of the Profits?

We will be sending letters or emails to members, depending on their preferences. The way members receive their Share of the Profits is based on the option they selected on their membership account, so this could be any one of the following:

• e-vouchers (in the Your Co-op members app) or paper vouchers - these can be used in any of our Food, Pharmacy, Travel or Childcare businesses

• Credit to the member's Energy, Phone or Broadband account

• Direct bank transfer

• Into their Share Account

• Payment made to charity

 

Which members will not receive a Share of the Profits?

You won't receive a Share of the Profits this year if:

• You signed up as a member after 22nd January 2022 or;

• If you've earned less than 400 points between 24th January 2021 and 22nd January 2022 - any points earned will carry over to next year's payout

 

Where can you find out more?

If you'd like to find out more about your Share of the Profits, then look out for your letter or email over the next few weeks. This will explain how you will receive your payment, how we've calculated your payment based on your points balance and everything else you need to know.

If you are a front-line colleague dealing directly with members, then you should already have been sent a brief outlining the Share of the Profits activity, a redemption guide to help you redeem members' vouchers and a list of frequently asked questions to help you answer any queries members may have. You can find this information by clicking here, or alternatively, speak to your line manager.