Case Study: Co-op boosts employee savings and financial wellbeing with Stream

Co-op - Customer Case Study

The Co-op, a major UK retailer, identified a significant financial wellbeing challenge among its 20,000 employees. Well over a third of its frontline colleagues had less than £100 in savings, and only 30% reported being able to save money regularly. To address this, Co-op partnered with the vendor Stream to implement a pioneering workplace savings programme.

Stream's solution involved automatically opting colleagues into a scheme that saved money directly from their pay. This approach was highly effective, increasing savings participation to 71% of members. The results were extraordinary: colleagues saved £8 million in 2024, with a third saving for the first time in their lives. The Stream-powered programme was named the UK's best financial wellbeing strategy and won the Grand Prix at the 2024 Employee Benefits Awards, with 60% of colleagues reporting reduced financial stress.

Co-op

Paul Caudwell

Wellbeing Manager