Coop Rebates Available; Checks Smaller This Year

Most members who will begin picking up Harvard Cooperative Society rebate checks today will find smaller checks this year than last, Coop officials said.

This year's checks will be drawn from a $3 million rebate fund which the Coop has divided among more than 115,000 members, said Coop President James A. Argeros.

He said that unusual expenses prompted the Coop to cut its rebate rate to 9.5 percent from last year's rate of almost 10 percent, which will result in checks averaging $26.38 each.

Among last year's unusual expenses were start-up costs for a new store at the Medical School and higher than expected insurance premiums and interest rates, Argeros said.

In addition, Argeros said that because the Coop increased its total number of members, each one would receive a smaller portion of Coop profits.

"If a few more people participate in the same pie, the pieces will be slightly smaller," he said.

Despite the decrease, the Coop's rebate rate this year will be the highest of any cooperative bookstore in the country, Argeros said.

Rebate checks can be picked up in the Cashier's office on the third floor of theCoop at 1400 Mass Ave., Argeros said. He said thatthe Coop will mail checks that are not retrievedbefore December 15, 1986.

To share in the Coop's profits, one must beaffiliated with Harvard or MIT and pay a yearlyfee of $1.

Coop shoppers interviewed yesterday said theywere not particularly concerned about the reducedrebate rate.

"I suppose it doesn't thrill me, but it's notgoing to destroy my year," said Judy A. Neugroschl'87.

"I guess I should ask for my dollar back," saidEdward W. McBride '89