Membership of The Co-operative Group has broken the three million barrier, new figures show.
The group had two million active members before its re-launch in September 2006, which grew to 2.5m last November, before climbing to 3.1 million members, up to August 5.
An analysis of new membership applications shows that almost 40 per cent are aged under 40 and that almost 35 per cent are men, up from two years ago when just 16 per cent of the group’s old loyalty cardholders were aged under 40 and 25 per cent were men.
Members receive a cash payment based on the points they earn when they trade at any of the group’s businesses, which include The Co-operative Food, Travel, Pharmacy and Funeralcare, as well as The Co-operative Bank and The Co-operative Insurance.
The value of each point varies year on year because the dividend payment is linked to the profits of The Co-operative Group, which were up 8.6 per cent to £431.6m last year.
For 2007, a point was worth 2.63p, up from 1.43p in 2006.
The total share of profits dividend paid to members in June was £38.1m, compared to £19.6m the previous year.
The group is currently in the midst of a full-scale rebranding project, with £1.5 billion investment.
Patrick Allen, director of marketing, said: “The growth in membership underlines the fact that The Co-operative is enjoying a renaissance. People are trying out our new look stores and they obviously like what they see. So much so that they are deciding to join us.
“The combination of high-quality products coupled with the ability to influence our business, and contribute to our community and social goals agenda, are compelling reasons to join the award-winning Co-operative - recently named the UK’s most trusted and ethical brand.”
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