You are here: Home - Saving & Banking - News -

Co-op’s ‘divi’ back after 30 years

Written by:

The Co-operative Group, the UK’s largest co-operative society accounting for 60% of co-operative trade and valued at £8bn, has launched a £100m revamp of its brand and has introduced a new profit-share dividend scheme for its members.

Customers, who pay £1 for membership, will collect points from buying various goods and services that can be redeemed at a later date, a system that last operated in 1976. The Co-operative Group hopes to increase its membership from the current 600,000 to four million by 2010.

“There are millions of consumers across the UK who share our belief in self-help, social responsibility and democracy and, like us, are prepared to take a stand on consumer and social issues,” said Martin Beaumont, chief executive.

“That may be true but this is a gamble they will be praying is successful,” commented retail analyst Debbie Harrison.


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Thames Water cuts quarter of jobs

Thames Water, the UK’s biggest water company, has announced plans to cut 25% of its workforce by 2010 as part...