Whilst the Northern Rock dives towards obscurity, another north east heritage continues to prosper. The Gazette tonight highlights how the Co-op paid out £64,300 to its members in South Tyneside. The company’s Group Share Scheme saw shop keepers pocket £153 each, which rewards members for their custom with payouts twice a year.
Regional chief officer David Mockford also predicted increased profits for the year ahead which bodes well for local shop owners.
Perhaps we should remind ourselves that Co-op also operate a banking, loan and mortgage service. So if you are uneasy with the Northern Rock scenario, you can still invest your money and receive banking services from a north east company.