Newport campaigner’s joy at protection for savings
3:20pm Wednesday 13th February 2013 in News
A FAREPAK campaigner says she is over the moon after a supermarket said it is to protect its customers’ savings.
Debbie Harvey, of the Farepak Victims Committee, has campaigned for years to ensure that the Farepak disaster cannot happen again – and that consumer savings schemes are protected.
Now the Co-operative Group has launched a new savings scheme trust, which will give added security to its customers who use its savings stamps scheme.
Customers’ money will be transferred into a trust account. The Co-operative was working with the committee that was set up after the Christmas club collapsed in 2006, leading to nearly 120,000 people losing an average of £400 each. Mrs Harvey, of Alway, said she and the committee’s Louise McDaid were humbled that their idea had come to fruition with a £13 billion company.
She said: “This scheme will protect the consumer and importantly protect the Christmas savings of thousands of hard-pressed families.
“They are the only major retailer to do this.”
Martyn Wates, deputy chief executive of the Co-op Group, said: “As the UK’s biggest consumer-owned business, and a trusted and responsible community retailer, I’m pleased that we have been able to respond to the Farepak Victims Committee’s request for a trust fund, and I believe this initiative will give our customers extra peace of mind, setting a new standard for other businesses to follow.”