The Co-op announces $45m member payout

04 June 2014

Australia’s largest member-owned retailer, The Co-op, has kick-started a groundbreaking partnership with another BCCM member, ME Bank, by offering all members a $25 cash reward to upgrade their membership cards to a new multi-function card that combines digital banking access and The Co-ops’ membership discounts. The campaign is reportedly the biggest cash giveaway to members in Australian retail history.

“The Co-op is a natural choice for us as we drive forward to provide Australia with a low-cost digital banking alternative, especially as we see a massive growth opportunity in the university student sector,” said Jamie McPhee, Chief Executive Officer at ME Bank.

The offer is open to all members, over 1.8 million of them – whether they joined last year or back when the co-op began in 1958: Co-op Members to get their share of up to $45 million, 3 June.

The Co-op media release, Co-op members to get their fair share, June 3