REI dividend

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DaveLanders
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Re: REI dividend

Post by DaveLanders » Thu Feb 25, 2021 3:34 pm

I haven't gotten any info from REI yet, but I did use my REI credit card a lot last year (but not much at REI). I'm assuming I can still get cash for the part of my dividend/reward that is due to my credit card rebate, or is that not the case?
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Gene913
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Re: REI dividend

Post by Gene913 » Thu Feb 25, 2021 3:43 pm

DaveLanders wrote:
Thu Feb 25, 2021 3:34 pm
I haven't gotten any info from REI yet, but I did use my REI credit card a lot last year (but not much at REI). I'm assuming I can still get cash for the part of my dividend/reward that is due to my credit card rebate, or is that not the case?
Full text of letter that went out via email today. See parenthetical in next to the last paragraph. REI Co-op World Elite Mastercard® rewards are unaffected by this change:

Dear co-op members,

2020 was a year like no other—at the co-op and around the world. Many organizations would say that the past year was among the most difficult years in their history. The same is true for our co-op.

We were one of the first retailers to proactively close all of our stores last spring, as the significance of the pandemic began to take shape. What we first thought might last a week or two ended up stretching for nearly two months. And while we ended the year in a strong financial position, with a healthy cash balance and no debt, our temporary store closure and great challenges posed by the pandemic meant we ended 2020 without making a profit.

Although the world was full of uncertainty and stress, we were reminded time and again of the importance of time outside, and our role in helping people get out there. We welcomed almost 1 million new members to the co-op community, built new offerings like Curbside Pickup and Virtual Outfitting, and helped many people discover a favorite new outdoor activity.

As challenging as last year was, we have something others don’t—you. Our members are at the center of who we are and how we operate. You asked us how you could help the co-op; we responded by asking for your continued loyalty as co-op members. We’re grateful for your support. Because of you, we made it through 2020 in better shape than we initially projected, and we believe the future is brighter than ever.

Each year, REI Co-op members receive a unique benefit—the REI member dividend—which is your share of REI’s profits of the last year. Since we didn’t earn a profit in 2020, we don’t have those profits to provide to members in the form of a dividend. Even though we didn’t make a profit last year, you’ll receive a member reward equivalent to what your dividend would have been: 10% back on your eligible full-price purchases in 2020. This will feel a lot like the dividend experience you’re used to, and you’ll see your total reward in your account on March 1. (REI Co-op World Elite Mastercard® rewards are unaffected by this change.) Find answers to your frequently asked questions here.

It’s our way of saying thank you for your loyalty and support in 2020, and our hope that you get to enjoy lots of time outside in 2021. In good times or bad, our community always comes first. It’s the co-op way.

Thank you,

Vivienne Long, Vice President of Marketing
"If you have faith like a grain of mustard seed, and you say to this mountain, 'move from here to there,' it will move, and nothing will be impossible for you." Matthew 17:21
DaveLanders
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Re: REI dividend

Post by DaveLanders » Thu Feb 25, 2021 3:48 pm

Thanks Gene!

I know REI has my email address, but I still haven't heard from them.
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Re: REI dividend

Post by justiner » Thu Feb 25, 2021 4:06 pm

I sure can see a reason someone would wanna simply cash out this year rather then spend money at REI. Cheaper for REI to give store credit anyways in the end so it’s a way to lose less money I guess, while also not needing to put so much old stock on a fire sale
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Re: REI dividend

Post by stephakett » Thu Feb 25, 2021 4:31 pm

ker0uac wrote:
Thu Feb 25, 2021 3:34 pm
Well if your dividend is high then you are buying way too much at full price
time out-

or you use your REI Mastercard to pay for everything, including reimbursable work expenses
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Mtnman200
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Re: REI dividend

Post by Mtnman200 » Thu Feb 25, 2021 4:33 pm

stephakett wrote:
Thu Feb 25, 2021 4:31 pm
ker0uac wrote:
Thu Feb 25, 2021 3:34 pm
Well if your dividend is high then you are buying way too much at full price
time out-

or you use your REI Mastercard to pay for everything, including reimbursable work expenses
Exactly. Most of my REI dividend is from using my Mastercard.
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NM_Hiker
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Re: REI dividend

Post by NM_Hiker » Thu Feb 25, 2021 4:34 pm

I'm planning on donating my REI dividend. Am hoping that is possible.
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Re: REI dividend

Post by bergsteigen » Thu Feb 25, 2021 4:35 pm

ker0uac wrote:
Thu Feb 25, 2021 3:34 pm
Well if your dividend is high then you are buying way too much at full price
I put all $223K of my grandmothers nursing home care onto my Visa card. Figured if the family was gonna bleed, I was gonna get something back. Boom!
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Re: REI dividend

Post by Jay521 » Thu Feb 25, 2021 4:41 pm

bergsteigen wrote:
Thu Feb 25, 2021 4:35 pm
I put all $223K of my grandmothers nursing home care onto my Visa card. Figured if the family was gonna bleed, I was gonna get something back. Boom!
You're credit limit is a helluva lot higher than mine! :bow: :bow:
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Scott P
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Re: REI dividend

Post by Scott P » Thu Feb 25, 2021 5:01 pm

ker0uac wrote:
Thu Feb 25, 2021 3:06 pm
Scott P wrote:
Thu Feb 25, 2021 2:59 pm
bergsteigen wrote:
Thu Feb 25, 2021 2:48 pm
Except that you don’t get rewards for next year on purchases with the dividend.
True, but you also get 20% off an item when you use your dividend.
Are you referring to the member coupons? You can always get the 20% off.
There are periodic member 20% coupons, but usually they send another code/coupon to be used when you use your dividend. I believe you can only use that one with the dividend (unless things have changed)
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Re: REI dividend

Post by timewarp01 » Thu Feb 25, 2021 5:53 pm

Scott P wrote:
Thu Feb 25, 2021 5:01 pm
ker0uac wrote:
Thu Feb 25, 2021 3:06 pm
Scott P wrote:
Thu Feb 25, 2021 2:59 pm


True, but you also get 20% off an item when you use your dividend.
Are you referring to the member coupons? You can always get the 20% off.
There are periodic member 20% coupons, but usually they send another code/coupon to be used when you use your dividend. I believe you can only use that one with the dividend (unless things have changed)
The member rewards (replacing the dividends from 2020) will come out alongside the 2021 Member Sale in March. During the sale, all members will also receive a 20% off coupon. The coupon can be used with or without the member reward. Using the member reward will not give you another 20% off coupon.
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Re: REI dividend

Post by timewarp01 » Thu Feb 25, 2021 5:54 pm

DaveLanders wrote:
Thu Feb 25, 2021 3:34 pm
I haven't gotten any info from REI yet, but I did use my REI credit card a lot last year (but not much at REI). I'm assuming I can still get cash for the part of my dividend/reward that is due to my credit card rebate, or is that not the case?
Yes, you will still get cash for dividends on mastercard purchases.
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