Co-op stamps

jackyannjackyann Forumite
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This should probably go under 'savings' but just may be of more interest to OSers!

I have tended to avoid Xmas clubs since my mother made me work out how much more interest we would get if we used a proper savings account.
However, I have just worked out that my local Co-op's saver card effectively pays 4% interest: Buy 48 @£1 stamps and you get £2 added in December. Of course it has to redeemed at the Co-op, not a problem for me, especially as it doesn't have to be redeemed in one go.
So I thought I'd share.

Replies

  • NewShadowNewShadow Forumite
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    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
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    jackyann wrote: »
    This should probably go under 'savings' but just may be of more interest to OSers!

    I have tended to avoid Xmas clubs since my mother made me work out how much more interest we would get if we used a proper savings account.
    However, I have just worked out that my local Co-op's saver card effectively pays 4% interest: Buy 48 @£1 stamps and you get £2 added in December. Of course it has to redeemed at the Co-op, not a problem for me, especially as it doesn't have to be redeemed in one go.
    So I thought I'd share.

    Also worth remembering - if you have an NUS card - you also get 5% off your groceries, combined with the coop card which gives you cash back on buying coop own brand goods - and both cards include reductions.

    I have an NUS card because I did a 3 month course with CMI through work and bought a 3 year card while I was eligible - so it's worth checking if you could get one.

    Coop can be more pricy - but reductions + discounts can make it cheaper than other big stores and they stock some OS type goods (pectin for e.g.) that aren't stocked locally elsewhere.

    -- does not work for coop --
    That sounds like a classic case of premature extrapolation.

    House Bought July 2020 - 19 years 0 months remaining on term
    Next Step: Bathroom renovation booked for January 2021
    Goal: Keep the bigger picture in mind...
  • The other good thing about the Co-Op saving stamps is that they're protected so if the Co-Op went into administration people wouldn't lose their money, like they did when Farepak collapsed.
  • jackyannjackyann Forumite
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    Thanks Margaret, I had forgotten about 'safety'.

    The Co-op is my nearest store, so although I mostly shop at 'independents' and markets, I do buy basics there.

    I do support their ethical policy, and am fortunate in being able to have some give in my budget, so we can choose to support local and ethical producers. Not everyone can do that.
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