City's Co-op customers to get share of all profits

2:30pm Tuesday 29th August 2006

THE Co-operative Group today unveiled plans to bring a new identity to more than 3,000 high street and village outlets and give its customer members a share of profits across its entire family of businesses for the first time.

The consumer-owned retailer has annual sales of almost £8b and is set to reinforce its position as the UK's number one community provider with the changes.

These could benefit people in Worcester as the Co-op stores in Gresham Road and Ombersley Road in Dines Green, Lichfield Avenue in Ronkswood, and the Bull Ring in St John's will all be effected. Co-op funeral homes (Lowesmoor), pharmacies, banks, and travel (City Arc, High Street), are also included.

The main developments are:

l For the first time members will receive an annual share of the profits based on their trading with the group's entire range of businesses.

l The group will roll out a new brand identity, The co-operative, across its entire estate.

l Members will have the opportunity to provide extra support to local projects by electing to donate their share of profits to the group's community dividend scheme. Last year grants were distributed to more 2,000 community organisations throughout the UK.

Becoming a member of the Co-operative group costs just £1. Members will earn points on trade with all group businesses and these are converted into a share of the profits, with payment being made twice a year in June and December.

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