It’s only $20 to join the REI Co-Op Membership, and it makes you feel like you belong to a ‘secret club.’ It sounds perfect, right?
$20 isn’t much, so it’s a no-brainer. If you said that about every membership, you’d be broke just signing up for memberships you may or may not need, though. It’s important to understand what each membership offers and to compare it to what you need and/or would use to make a decision.
So is the REI co-op membership a good deal or is it all smoke and mirrors? I uncover everything you must know about the REI membership below to help you make a decision.
REI Co-Op Membership Overview
The REI membership is $20 for a LIFETIME. That’s right, one $20 investment gets you the benefits of an REI membership for life.
This, of course, only matters if you shop at REI, which is a store that sells outdoor recreational clothing and equipment along with a variety of fitness apparel and shoes. If you love camping, hiking, skiing, or any other outdoor activity, you may be well versed in everything REI has to offer.
If so, and you spend at least $200 (which isn’t hard to do), you’ll break even. Every purchase from then on will be money in the bank, literally since you only pay the membership fee one time.
Here’s what you get:
- Annual member dividend equal to 10% of your purchases for the year
- Access to classes and day trips
- Special pricing on outdoor rental equipment
- Exclusive events for members (they are all virtual for now)
Keep in mind, you only receive your dividends once a year, and it’s not until the March following the year you purchased. Any purchases you make after December 31 fall into the following year’s dividends. It’s nice getting surprise mail though as it’s easy to forget about the dividends headed your way, especially if you bought something at the beginning of the year.
Other Ways you can Save at REI
The 10% dividend isn’t the only way members save at REI. Members get exclusive offers too including:
- 20% off one full-price item coupons at least once a year, but usually more often
- 20% off one outlet item at least once a year, but usually more often
- Access to the REI membership-only garage sales which are sales on returned items once a year (they are virtual for now but will be in person again eventually)
- Easier returns – you don’t need a receipt and have up to one year to return items except outdoor electronics, which have a 90-day return policy
More Benefits of the REI Co-Op Membership
Besides the dividends, coupon savings, and access to exclusive events, members enjoy the following benefits at REI:
- Browse online and find a local store to try and buy
- Access to knowledgeable sales staff who are usually outdoor enthusiasts and can help you with your decisions and expert knowledge online
- Access to more savings at the REI Outlet
- Access to used gear at great prices and in great condition
- Help planning outdoor trips and adventures including special deals
- Access to virtual outfitting with an online expert
- Set up a gift registry or wish list
- Get access to more REI coupons and deals
- Get free shipping on orders over $50
The REI Membership Co-Op Mastercard – Is it Worth It?
Another benefit of joining the REI Membership Co-Op is the access to the REI Co-Op World Elite Mastercard. Only REI members may apply, and it too has its benefits including:
- 5% back on REI purchases in addition to the 10% benefit from the membership itself
- 2% back on mobile wallet purchases
- 1% back anywhere else Mastercard is accepted
The REI Membership Co-Op Mastercard doesn’t have an annual fee and doesn’t charge foreign transaction fees, which is great for travelers.
In addition, every purchase you make with your REI Co-Op Mastercard, REI donates a portion to outdoor projects, making the world a better place.
REI vs Backcountry
Outdoor enthusiasts have many options to buy equipment, but the two most talked about are REI and Backcountry.
Backcountry doesn’t have the membership option like REI or the chance to earn dividends, but they have other benefits some people enjoy including:
- 15% off when you sign up for Backcountry emails
- Free standard shipping on orders over $50
- Set up a free wedding registry
- Lifetime returns on all new equipment and a 30-day return policy on all used equipment
You’ll save the $20 membership fee that REI charges, but you won’t have access to dividend payments or member-exclusive deals.
Also, Backcountry only has one physical store in West Valley City, Utah. If you aren’t local to that store, you may only make purchases online. Backcountry’s great return policy makes it easy to change your mind, but if you prefer the in-person experience and access to other outdoor enthusiasts, you won’t find it at Backcountry.
Backcountry also doesn’t offer trip planning, adventures, or other events like REI members receive. It’s strictly an online store that offers similar equipment and clothing as REI, but with fewer opportunities.
REI Membership FAQs
What does REI sell?
Anything you need for outdoor adventures or indoor fitness you’ll find at REI. This includes winter weather clothing, fitness clothing, shoes and equipment for the following categories:
Hiking
Climbing
Paddling
Running
Camping
All snow activities like skiing and snowboarding
Do REI members get a discount?
REI offers its members exclusive coupons several times a year, but year-round members get 10% back on their purchases. You won’t get the discount when you make the purchase, but you’ll receive the dividends in March of the following year for your entire year’s purchases.
How do you receive the REI dividends?
All members receive their annual dividend in the mail. You can use it just like a gift card when you receive it. But note that only the primary member may redeem the dividends.
How do you redeem your REI dividends?
You have several options:
Shop online
Call 1-800-426-4840 to make a purchase with your dividends
Shop at an REI store
Book an REI Adventure
Can you turn your REI dividends into cash?
You can turn your REI dividends into cash between July of the issue year and January 3rd of the following year. Just bring your dividends to your local REI and ask to cash it out.
Can you request a check for your REI dividend balance?
If you have an unspent balance, you can request a check at any time, but REI only issues checks between July and January 3rd. They will only issue a check for any balance exceeding $25.
Do REI dividends expire?
Yes, you have just under 2 years to spend your REI dividends. For example, dividends you received in March 2019 are good until January 3, 2021.
Can you use a spouse’s membership?
If you are shopping at REI, you can use your spouse’s membership and earn the 10% back. However, only the primary membership owner can redeem any dividends earned.
Does REI price match?
REI does not price match because it’s a member-owned co-op. Rather than price match, they offer dividends and exclusive offers to its members.
What does it mean that REI is a co-op?
REI is a consumer co-op which means they pay their members a portion of their dividends. They don’t have shareholders; all money goes back to its consumers and/or the community.
Is it Worth It?
So now that you know what the $20 buys you, it’s time to decide – is it worth it?
The bottom line is whether you’ll spend at least $200 at REI. Are you an outdoor enthusiast? Even if you aren’t, they sell high-quality brands for winter gear and even indoor fitness clothing. It’s easy to spend $200 on any of these items, which may make the $20 membership worth it for you.
Who should consider it? Honestly anyone who will spend $200 at REI, BUT if you don’t have an REI local to you and you prefer to shop in-person, it’s not worth it. They do have a great return policy, which makes it easier to shop online and return, but some people just don’t like that.
If you love shopping online, love getting money back on your purchases and would qualify for the REI Co-Op Membership Mastercard, though, you’ll make out like a bandit. Earning 15% back on REI purchases plus at least 1% back anywhere else you use it pays for the $20 membership quickly.
Since it’s a lifetime membership, it’s an easier decision than those you pay for monthly or even annually. You pay the REI membership one time, and you have it for life.
