Case Study: Co-op achieves award-winning financial wellbeing and higher savings participation with Wagestream

Co-op - Customer Case Study

Co-op, the UK retailer and member-owned business, wanted to improve colleagues’ financial wellbeing after feedback showed many frontline, funeral-care and logistics staff had little in savings and limited ability to save regularly. To address this challenge, Co-op worked with Wagestream and its savings and financial wellbeing tools, including Flexible Pay, Track, Benefits Checker, Savings, Financial Health Checker and Rewards.

Wagestream helped Co-op launch an auto-enrolment savings pilot that let colleagues save straight from pay each month, making saving simple and consistent. The result was a 71% savings participation rate, £8 million saved in 2024, and 1,000 additional employees becoming savers, with a third saving for the first time. Co-op also reported that 76% of members accessed budgeting support and 60% felt reduced stress and greater financial control, contributing to the company’s award-winning financial wellbeing strategy.

Co-op

Paul Caudwell

Wellbeing Manager