OP cooperative banks have 2 million owner-customers – over 2.5 billion euros paid out in OP bonuses in the past 20 years

During the last ten years, the number of owner-customers has increased by almost 60% and now exceeds two million. In 2019 alone, OP got 92,000 new owner-customers.

OP Financial Group’s mission that guides its operations is to promote the sustainable prosperity, security and wellbeing of its owner-customers and business environment.

“Two million owner-customers was one of our strategic targets for 2019, which we achieved. We would like to thank our customers for making this possible. We aim to ensure that our owner-customers will continue to get significant benefits,” says Harri Nummela, Executive Vice President, Banking, Private and SME Customers.

Owner-customers benefit from their ownership in many ways. The most prominent benefit are the OP bonuses, which OP has paid for 20 years, since 1999. The total amount of bonuses paid out during these years is over 2.5 billion euros. During the last ten years, the amount of bonuses paid out has increased by around 60%.

In addition to OP bonuses, owner-customers are entitled to significant benefits on banking, insurance and real estate agency services. For example, owner-customers get student loans without service fees and can buy, sell and switch the majority of OP funds’ units with no charges.

In 2019, OP launched to its owner-customers the OP Group Buying service, through which they can buy products and services at special prices. In 2020, OP cooperative banks will continue to launch new benefits proposed by owner-customers.

“We want to provide our owner-customers with even more tangible benefits. For example, this year they will be able to buy advance tickets to various exciting events. We will also provide other new benefits,” says Sari Heinonen, Head of Private Customers, Banking.

Everyone can become an owner-customer by paying a cooperative contribution to their own OP cooperative bank. The Representative Assembly or the Annual Cooperative Meeting is the highest decision-making body at OP cooperative banks. An owner-customer can vote in the Representative Assembly election and run as a candidate for the Representative Assembly. Representative Assembly elections are held in OP cooperative banks every four years, next time in the autumn of 2021.