As we're approaching transaction one million, we thought we'd mark this achievement by handing out a few bonuses (see prize discussion here)
So here's what we've decided.....
There will be bonuses for whoever earns transaction number 910,000, 920,000, 930,000 etc up to transaction 1m (10 prizes in all). For each of those ten transactions we will double the cashback award (up to a maximum of £100 per transaction)
Not only that, but each member who gets a bonus will also have their total lifetime shareholding* increased by as much as 100%
* according to the number of pending and awarded shares on their statement on the day that the final winner is announced
So the list of prizes is as follows:
Transaction #910,00: 2x cashback + total shareholding increased by 10% - winner announcement
#920,000: 2x cashback + shareholding increased by 20% - winner announcement
#930,000: 2x cashback + shareholding increased by 30% - winner announcement
#940,000: 2x cashback + shareholding increased by 40% - winner announcement
#950,000: 2x cashback + shareholding increased by 50% - winner announcement
#960,000: 2x cashback + shareholding increased by 60% - Winner announcement
#970,000: 2x cashback + shareholding increased by 70% - Winner announcement
#980,000: 2x cashback + shareholding increased by 80% - Winner announcement
#990,000: 2x cashback + shareholding increased by 90% - Winner announcement
#1,000,000: 2x cashback + shareholding increased by 100% - Winner announcement
Note that you can only have your shareholding increased once as part of this competition, so a member winning two or more bonuses will have their shareholding increased by the highest amount according to the above list
Based on current transaction levels, we'd expect to see transaction #910,000 around 22/23 June. And transaction 1m around 22/23 July, but these are only estimates!Example
Fred generates transaction #920,000 when he earns £20 cashback at Tesco. He also generates transaction #990,000 by earning £5 cashback at Play.com
His £20 cashback at Tesco gets doubled to £40, and his £5 cashback at Play.com is also doubled to £10. As for the increase in shareholding, the higher of the two (90%) applies. On the day the winner of transaction 1m is announced, he has a total of 100,000 pending and awarded shares, so we award him a further 90,000 shares!
We hope you enjoy this little competition around what is a significant landmark for your company, and please use this as an opportunity to spread the word about imutual and attract a few more members to the fold!