Q: Will I continue to receive Britannia Membership Reward (BMR)?

A: Yes. The Britannia scheme will continue as it is until the end of 2009 and members will receive a final payment in February 2010.

From January 1, 2010, Britannia members will begin earning Co-operative dividend points on the Britannia products they continue to hold from that point in time.

Q: How will you share profits with members in the new organisation?

A: The Co-operative dividend scheme has no qualifying period, no minimum qualifying amount and no maximum, or cap, on the amount of reward a member can earn.

It is paid twice a year, and reward can be earned across the Co-operative Group, which includes banking, food, pharmacy, travel, funerals, legal services and electrical.

Unlike BMR, the Dividend scheme has no multiplier for length of membership.

From 2010 The Co-operative Group intends to amend the dividend scheme so the amount of any dividend payable to CFS customers will be based on the financial performance of CFS.

Q: Will I get a windfall payment now the merger has been approved?

A: No. Britannia says it is not asking members to give up their ownership in exchange for a windfall payment.

Q: What protection do my savings have under the Financial Services Compensation Scheme ?

A: Under current Financial Services Authority (FSA) rules, savers who have accounts with both organisations will retain their £50,000 protection with each business.

Q: What immediate differences will I notice?

A: None. The merger still has to be approved by the FSA. The new organisation is expected to be created on August 1.