While most organisations charge membership fees, Capricorn is paying its members a record $71 million in financial year 2021/22.
This included the announcement of a $15 million trade volume rebate, distributed in proportion to members’ use of their Capricorn trade accounts. The lump-sum payment represents a direct return of profits in what was another successful year for the cooperative.
This is the fourth consecutive year the trade volume rebate has been paid, despite many global challenges.
Capricorn members also received an additional $38.5 million throughout the year in reward points. The Capricorn Rewards program returns 1.5 points on almost every dollar spent through a Capricorn trade account, with every 100 points equal to $1. Members can choose to use their points to effectively discount business expenses or redeem them for a range of merchandise and gift cards.
As shareholders of the cooperative, Capricorn members also received a total $17.5 million via a healthy 7% fully franked dividend, representing a 10% return inclusive of tax benefits.
Finally, eligible members with risk protection provided through Capricorn Mutual shared in a $6 million Loyalty Rebate. This first-time rebate rewarded members who have been with the insurance providor for three or more years.