Thank you for reaching out with your questions!
We wanted to provide some clarification on the Member Reward for this year. Your member reward is based on your full-price purchases from last year, just like a dividend would have been. Your member reward is added to any remaining dividend you may have from 2019 and any REI Co-op World Elite Mastercard rewards (if you are an REI Mastercard holder) creating your total REI Rewards for 2020.
Your member reward is based on your full-priced purchases from last year. It is not a 10% discount on your future purchases in 2021. It is the equivalent amount that your regular dividend would have been for your purchases in 2020.
So, if you would have received a $200 dividend last year based on your purchases, then you will receive a $200 member reward this year. You can shop at REI with your REI rewards as soon as you receive notice of them in the mail.
You can find more information about the Co-op Member Reward in the FAQs on our Membership Benefits page. Hopefully we understood your post correctly and helped clarify a little bit, don't hesitate to reach out with other questions!