Juan,

I just reread your response to my question and I was
flabbergasted that your club would need a collection
officer!

It's hard work keeping a club successful--especially for the
long term. It has to be run like a business, or it just
won't make it.

In my club, we start by making it VERY clear in our New
Member Prospectus that we are running a business, and that
members must show up and pay on time, every time. In fact,
we have them sign off to that effect on a New Member
Induction Form.

If they miss a meeting, they are not allowed to wait until
the next month to pay. I want a check dropped off the next
day. And if someone misses without prior notification, I'm
usually on the phone with them directly after the meeting.
People are not comfortable with having to account for their
whereabouts! It works.

In a previous club, we discussed late fees. I had a member
once tell me that he'd be more than willing to pay a $5.00
late fee every month, if it meant that he didn't have to
hear from me! That incensed me! Club members are supposed
to be responsible adults, not children who need to be
punished. This remark showed me that late fees don't work.
It's a get-out-of-jail-free card that gives members
permission to NOT follow the rules.

In my current club, I would rather ask for someone's
resignation than to asses a late fee. And so far, no one
has a problem with this.

Further, our club has an automatic withdrawal system. If a
member is more than 61 days late with their monthly dues, or
misses 3 consecutive meetings without permission from the
club, they are automatically withdrawn.

And we're doing great! We have a model club. Everyone
participates and everyone has a good time. We've had
several members from other local clubs attend our meetings,
and they are shocked at the pace and the information they
hear! That's a real shot in the arm for our group. They
"feel" successful!

And you can't have that camaraderie with people who don't
care enough to show up and pay.

Lynn Ostrem
Crow River Investment Club
www.bivio.com/crowriver