Coop: also a good neighbour when it comes to financial services

Early June the COOP Group and GRÁNIT Bank signed a strategic cooperation agreement, creating the framework for providing shoppers with financial services in 3,000 COOP retail units. Dr István Rédei, member of the board at Co-op Hitel Zrt. and Éva Hegedűs, deputy-president-CEO of Gránit Bank Zrt. told our magazine that this cooperation is mutually beneficial for both companies: Gránit Bank acquires a stable group of Coop customers and the Coop group obtains a stable financial background for its development and at the same time offers new services to loyal customers. The agreement stipulates that Coop loyalty card holders, Coop partners and staff are entitled to receive different discounts when using GRÁNIT Bank’s financial services. Gránit Bank developed a bank account package especially for Coop staff and customers and for the more than 600,000 Coop loyalty card holders they plan to issue debit/credit cards that can serve as loyalty cards too. A roadmap has been developed for the cooperation: first Coop staff will have the chance to use GRÁNIT Bank’ special services but by 2013 loyal customers will also be involved in the programme. In just a couple of months the first Gránit Bank units will appear in designated Coop locations as part of a pilot project. On the other hand, Coop’s financial stability and reliability will also improve with the agreement. What is more, in the future Coop partners will have the chance to sell their claims through Coop Hitel Zrt., using the financing services of Gránit Bank – a bank that is highly experienced in the field of factoring. As for Coop’s loyalty system, the quality and speed of the related electronic communication will also get better.