From research, we know that not all members understand that when they spend money with The Co-op that they will share in the profits based on how much they spend. The more you spend, the more you earn. So, we wanted to make it easier for you to enjoy it! If a member has earned a rebate for the year 2017/18 and interest on member fund balances greater than $10 they will receive a Co-op Advantage voucher for the amount earned.
The voucher is for the MEMBER ONLY and can only be used if the voucher matches the membership card.
If you would like to give it to someone else you can exchange it for a gift card at our Member’s Desk.
We hope that all of our members have a long-term view of their investment in their community Co-op. However, should you wish to withdraw your share capital, this needs to be approved by the Board of Directors following the lodgement of aWithdrawal of Share Capital form
The investment of additional share capital earns interest annually. At the Annual General Meeting in June the members approve the Directors’ recommendations on the share capital interest rate for the following year (from 1st of July). This is normally better than the commercial rate offered by banks and building societies.
Rebates are declared in March by the Board of Directors after considering the performance of The Co-operative in the previous year. The aim is to balance members’ expectations of a return on their annual spending with the ongoing financial needs of The Co-operative to remain a strong retailer in the region.