Every time you spend £2 on an energy payment, we credit your membership account with one membership point. In addition, we add 25 membership points for each meter reading you send each month (that’s 25 points per fuel per month; up to 50 points per month).
All of these points add up alongside the points you will earn shopping in our other trading groups such as food, childcare, funeralcare, post office, healthcare and travel. At the end of the year, we will add up your points and this will dictate how much you will receive when we share our profits out with our customers.
The value of each point, when it comes to sharing the profit, is voted on and declared at the Annual General Meeting to which all Midcounties Co-operative members are invited each year. The point value is based on how we are performing as a Society in terms of profit, as well as the total number of points to be awarded to members during the relevant qualifying period.
If you have chosen to receive your payment in vouchers, the minimum threshold for payment is £2.00. Vouchers are paid in whole pounds with any odd pence carried forward to the next Share of the Profits payout. If you have opted to have your payment credited directly to your energy bill, there is no threshold and the credit is made in entirety in pounds and pence.