It has been announced today that convenience chain The Co-op Group is introducing a new membership benefits initiative which will see more than £100 million a year being handed back to its members and their communities. To celebrate the new initiative, the group has announced it will return to its iconic blue clover-leaf logo over the next few years as well as re-branding back to its former name, Co-op.

The benefits include a 5% reward when customers buy Co-op own brand products and services, and a further 1% directly benefiting local causes, as well as bringing back the much loved ‘Divi’ – the share of profits which it gives to members.

Future plans for Co-op over the next five years include recruiting one million new members and have 50% of sales across its businesses coming from members. It also plans to return an additional £3 million in benefits to Fairtrade producer communities by extending its sourcing commitments.
Chief executive, Richard Pennycook, said: “This is what the Co-op is all about. Big business is often accused of taking money out of communities – we are putting it back in as we champion a better way of doing business for our members and their communities.

“Our intention is to return to paying a dividend again, but we also want to make the rewards for members who trade with the Co-op more meaningful and community focused. We’re already seeing good momentum across our businesses and this will drive further growth which our members and their communities will benefit from. It clearly demonstrates the Co-op difference being delivered every day.”