Co-operative cash boost

MEMBERS of The Co-operative Group across the Tees Valley will receive a share of profit payment totalling £360,000 this month, while community projects are also set to benefit by more than £13,000.

MEMBERS of The Co-operative Group across the Tees Valley will receive a share of profit payment totalling £360,000 this month, while community projects are also set to benefit by more than £13,000.

The top payment in the region is £512, under the consumer-owned Co-operative Group’s new share of profits scheme which rewards members for their custom, with payouts twice a year.
The Co-operative, which relaunched its membership scheme last year, will pay a share of profits equivalent to 1.43p for each point earned across its businesses.

The June payout is based on members’ trade in the second half of 2006.

The news came as the Co-op was also named the greenest high street retailer while Somerfield came bottom of the ranking.

Its carbon and waste emissions were assessed for BBC2’s The Money Programme.

The Co-op releases £324 worth of carbon and waste for every million pounds of its turnover.

Somerfield releases more than treble that amount.

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