Estate planning as a REI account holder
Recreational Equipment, Inc. rewards are forfeited when the account holder dies
(General customer service)
REI (Recreational Equipment, Inc.) is a consumer cooperative. A one-time $30 fee buys a lifetime co-op membership, and the membership's main ongoing benefit is the annual Co-op Member Reward (historically called the "annual dividend"), issued each year by March on the prior year's eligible purchases. The Co-op Member Reward can be a Patronage Dividend (governed by the Co-op Bylaws), a Promotional Reward (governed by the Membership Terms & Conditions), or a combination of both. Members also gain the right to vote for the REI Board of Directors. The estate-relevant assets are the lifetime membership itself and any unredeemed Co-op Member Reward balance.
REI rewards are forfeited at death under the program's terms. The terms explicitly state that rewards are not the account holder's property and cannot be inherited, transferred by will, or assigned through any estate planning mechanism.
What happens at death
The REI Co-op membership is personal and non-transferable. REI states the membership "cannot be transferred to someone else" and is "yours for life," and that "Only you can redeem your Co-op Member Reward and REI Co-op Mastercard Rewards, and only you can vote for the REI board of directors" — REI specifies that only the primary member (not a spouse or other family member) may redeem their rewards. REI's Member Loyalty Program Terms & Conditions further state that Promotional Rewards "may not be merged, purchased, sold, auctioned, bartered, traded, encumbered, gifted, transferred or assigned, and are not transferable upon death, as part of a domestic relations matter or otherwise by operation of law," and that doing so (or attempting to) "will void the Member's Digital Account and cancel the Promotional Reward." The Patronage Dividend portion of the Co-op Member Reward is a cooperative membership right declared by the Board "when, as, and if declared" and is tied to the member personally. REI publishes no beneficiary designation and no survivor or estate transfer mechanism for the membership or the Co-op Member Reward, so an unredeemed reward and the lifetime membership are effectively forfeited at the member's death. A surviving family member who wants REI benefits would need to purchase a new membership in their own name.
Planning your estate
Protecting REI rewards while the account is active
No beneficiary designation, rewards can only be redeemed, not transferred, and 4-step plan.
View details →When someone dies
Handling REI rewards after a death
Rewards are forfeited under the official terms, 4-step process, and 2 required documents.
View details →There is no beneficiary designation option for REI. This means rewards cannot be directed to a specific person through the program itself, unlike traditional financial accounts.
Frequently asked questions
They are the same annual benefit under different names — the "annual dividend" is now called the Co-op Member Reward. Each year by March, active members receive a reward based on the prior year's eligible purchases. It can be a Patronage Dividend (governed by the Co-op Bylaws), a Promotional Reward (governed by the Membership Terms & Conditions), or a combination of both, as determined by REI each year, and can be redeemed at an REI store, on REI.com, at REI Outlet, or in the REI app.
Sources
Data sourced from Recreational Equipment, Inc. primary sources (5 pages reviewed). How we research.
(General customer service)
