Co-op launches fund with CEO’s salary

Co-op CEO Steve Murrells is directing his own personal income to kick-start a Co-op Members Fund, which will be channelled into foodbanks, a funeral hardship fund and front-line community causes.

Murrells will be donating 20 per cent of his salary over a 3 month period into the newly created Co-op Members’ Coronavirus Fund, established so that the Co-op’s 4.6 million members can donate their unspent existing member rewards, totalling over £30m, into these vital areas.

Co-op members receive a 5 per cent reward every time they buy an own-brand product or service which is held in an online wallet which can be redeemed on future purchases. By visiting the Co-op’s website members will be able to donate the existing money in their wallet to the Co-op Members’ Coronavirus Fund.

Co-op recently pulled its Easter TV advertising campaign, donating the airtime – worth £2.5 – to promoting the work of food bank charity FareShare, encouraging customers to support food banks by either donating in-store or via a text to a dedicated number, both of which will boost the £1.5m of food Co-op has already pledged to FareShare. Co-op has also launched Co-operate, an online community centre to lessen the impact of the lockdown on people’s mental health. It connects vulnerable people to local and national support initiatives, as well as volunteers who are willing to run virtual events such as exercise classes, music groups, or arts and crafts classes for others.

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