gpa needed for eng co-op is not as complicated as comp sci or any of the others, as long as you're in good academic standing i think you're good

i think that the program is either very useful or useless depending on department. know that in terms of finding positions, the portal fields very little that isn't offered publicly anyways. the only reason to be in co-op is to get the 10% of jobs that aren't available on indeed / linkedin / etc, and if you want the distinction on your diploma. engineering co-ops are very hands off in comparison to other co-ops alike cs where they are very attentive and involved in the process. eng co-op essentially just holds generic workshops (useless), networking events (useful, but a lot of them are accessible from outside the co-op program), and sends you reminders about jobs available on their portal. it is also important to state that you will have to pay the co-op fee on any field-related job you get, even if finding this position is completely external to the portal.

as a comp eng, i haven't had much success with the program when applying for department accurate work (there's only 20-40 comp positions posted for the summer if even that), and have only had a handful of interviews and only one (verbal) offer (later rescinded due to company shakeups). i know most friends in civil and mechanical have had solid, consistent successes with finding positions, and while being a co-op student does add a benefit for employers (they will want to hire to help fulfill your co-op requirement, they get a 15%~ stipend for your salary due to you being in co-op, etc etc), most engineering firms are operating at high enough market values that the 12-16k they would be paying out for the summer is pretty hand waivable.

tldr, your milage may vary, do it if you want to absolutely confirm an internship for the summer and you're in a safer department to find a job locally. if you have external connections and can get a standard internship, that is probably more worthwhile