Dairygold to 'amend' updated loyalty reward scheme
The board of Dairygold tonight (Thursday, January 23) confirmed that it has decided to "amend" the co-op's updated loyalty reward scheme.
In a statement the Co. Cork co-op said that following consultations with the Dairygold regional committees the board "decided to amend the mechanism through which eligible members and customers may be awarded a potential year-end trading payment".
Dairygold stated: "In any year where such payments might apply, recipients will be rewarded for their direct trading activity, in the form of an additional loyalty reward scheme top-up payment.
"It was also decided that any future potential year-end milk payments to milk suppliers will not be linked to their level of purchases with the society and the previously proposed 6c/L threshold will not now apply.
"All other elements relating to the loyalty reward scheme remain the same".
Dairygold confirmed that it will "amend its loyalty reward scheme to reflect today’s board decision and will communicate the amendment to members shortly".
According to the co-op, since the loyalty reward scheme was first introduced in 2015, more than €21 million has been paid out to members and customers in shares and cash.
Commenting on the board's decision to amend the updated loyalty reward scheme, Pat Clancy, chair of Dairygold, said the co-op "is committed to its everyday goal of maximising members’ income, through ensuring the society pays the strongest possible milk and grain prices and minimising their input costs".
"Dairygold has a policy of rewarding members who actively trade with the society, thus helping to support the overall business performance.
"The focus of the initial updated scheme was to increase the rewards we pay to those actively trading.
"However, when it became apparent that members were concerned over the change, which links potential year-end milk payments to the level of purchases, we re-engaged with our regional committees, focus groups and members. Following this consultation, the board decided to amend the scheme," Clancy added.
