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The partnership between Coop’s retail stores and Coop Pank has been further strengthened with the latest updates to its loyalty programme. Whereas previously the programme focussed on promotions in Coop stores, it now includes special banking offers.

Head of private banking Karel Parve says Coop Pank has looked at what matters most to its clients. “In light of that, we’ve developed a range of perks and discounts that will help make everyone’s day-to-day lives easier,” he explained.

In order to make banking with Coop Pank as competitively priced as possible, the bank is offering new clients its Rahn plan free of charge for three months and 10% off home, accident and comprehensive insurance as part of its loyalty programme. In order to obtain the latter discount, clients need to enter into an insurance contract within three months of joining the bank.

Since where we live and how we get around are important aspects of everyone’s lives, Coop Pank also offers new and existing clients a permanent 50% discount on small loan, home loan and leasing agreement fees.

Convenient banking wherever you are in Estonia

No one has to already be, or have previously been, a Coop Pank client in order to qualify for the abovementioned discounts. “We encourage all of the customers in our Coop stores to become Coop Pank clients as well, because our aim as a local bank is to drive life forward in every corner of the country,” Parve explained. “We work hard every day to help people buy homes, whether they live in the city or the countryside, and to help companies set up new lines of business.”

Coop Pank’s services are available from Tallinn in the north to the Seto region in the south, and from the country’s eastern border to its western isles. As such, Coop clients can use their cards to withdraw cash – free of charge – from any ATM in Estonia and to deposit money in and withdraw money from their account at any Coop store. The bank also has a nationwide network of branches and offers its clients the convenience and reliability of its mobile and Internet banks.

Personalised offers mean freedom of choice

As part of the changes to the loyalty programme, everyone now has the option of selecting which discounts they want to make use of in Coop stores.

Ranno Pajuri, the marketing director with the Coop Estonia Central Association, says hundreds of thousands of customers in the country will now get to choose which discounts apply to them. “In the past, solutions were offered where it was just a case of saying yes or no to the discounts made to you, which weren’t personalised at all,” he noted. “But the freedom of choice our customers now have sets us apart from everything that came before.”

Pajuri explains that Coop customers will now receive personalised discounts on 11 items, of which eight can be swapped out for items more to their liking. At the same time, all previous promotional and birthday discounts will continue to apply.

The updated loyalty programme will be open to everyone during its three-month trial period. Thereafter, an upper limit of 150 euros per month will be introduced beyond which Coop customers will be able to make use of their personalised discounts. “By our calculations, that’s an amount that even those who live on their own but do most of their shopping at Coop stores will easily surpass in a month,” Pajuri said. “These personalised offers are a way of rewarding our loyal customers.”

New Coop Pank clients who join the bank even after the trial period has ended will receive personalised offers in Coop stores without any upper spending limit during the month they join and the two months that follow.

Coop Pank offers forming part of the updated loyalty programme:

• 3 months of free settlements with the Rahn plan for new clients during the introductory period
• 10% discount on home, accident and comprehensive insurance for new clients
• 50% off home loan, car leasing and small loan agreement fees
• The best customer prices in Coop stores and personalised offers for 3 months for those newly joined

The Estonian-owned Coop Pank is one of the five universal banks operating in Estonia. It has almost 195,000 everyday banking clients. It utilises the synergy generated between retail trade and banking and brings everyday banking services closer to where people live.

Coop is Estonia’s oldest and largest food and grocery chain, made up of 18 local consumer associations. It has 319 stores, accounting for almost half of the food stores in Estonia. Coop Estonia’s loyalty programme has more members than almost any other programme of its kind in the country.