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New Membership Initiatives
The Membership Committee and Club management at Las Campanas proposed, and the Board approved at its December meeting, certain new Membership initiatives which will soon begin the process of being implemented. To those of you that attended the Town Hall Meetings held December 17 to introduce these initiatives, this is old news, but many of our members were not able to attend those meetings and we wanted to be sure all of our members were aware of the initiatives. Below is a brief summary, for additional information you can also review (on the Las Campanas Member portion of the Las Campanas club website under the Resources tab), the power point presentation made at the Town Hall meetings or contact Las Campanas Director of Membership Development Britt Gladu: 1. Non-equity Unlimited (Golf) and Charter Club (Social) Memberships: We would issue a limited number of memberships in the already existing Unlimited (full privileges, including golf), and Charter Club (everything but golf), categories. The initiation fees for these categories are non-refundable. The Unlimited will be priced at $18,000 while the Charter will have an initiation fee of $13,200. Dues will be the same as for existing memberships in these categories (Unlimited same as Equity Golf, Charter Club same as Equity Social). Due to the limited nature of the offering, initially only 10 memberships in each category, we think there will be immediate interest, indeed we have already seen this occur as some have already been sold before the formal rollout. 2. Junior Memberships: In an effort to spur interest in younger members, we have created junior membership categories which can be issued as part of any one of our current four membership offerings (Equity Golf, Equity Social, Unlimited and Charter Club). A junior member would pay 60% of the otherwise applicable dues until turning 40 (for a couple until oldest turns 40) and 80% of dues from 40 until turning 45 (for a couple until oldest turns 45), initiation fee would be the same as would be paid by a regular member in that category but is payable in installments over a period than can in some cases be as long as 10 years. One of the things we constantly hear from both members and people we have talked with in the club industry is that we (and to a large degree all clubs), need more younger members. Junior membership programs exist at many of the finest clubs in the country and have been successful in attracting younger members. Our own younger members tell us they believe a program like this will attract younger members, particularly (but not entirely), from young professionals with families in town. This is one of the two places we are asking for approval through a vote on a bylaw amendment 3. Legacy Memberships: In an effort to promote the continuance of membership within families, we are offering two “Legacy” options for existing members. Option A – Existing equity members can transfer their membership to a descendant with the payment of only the transfer fee for that membership category (20% of the current initiation). Option B – Descendants of existing members can purchase a membership in any category they choose at 50% of the current initiation fee for that membership category. 4. Installment Plans for Initiation Payments Incoming members will be allowed to pay the initiation fee over two years – 1/3 with the application and the balance in two equal annual payments. For the equity memberships, a 10% premium will be added for members that choose the installment plan. 5. Transfer of Equity Memberships with Lots Currently the owner of a lot in Las Campanas who also owns an equity membership can transfer that membership to a buyer of the lot. We have found that, when a seller of a lot has an active membership, it is transferred to the buyer a very high percentage of the time, thus continuing the membership as an active membership, just with a new owner. We think extending this privilege to additional properties will encourage more of these situations where memberships are continued by the buyer of a property. Specifically, we are proposing a change in how the bylaws define a lot for this purpose from “a lot in Las Campanas” to “a lot in Santa Fe County”. This is the second of the two items we are requesting a vote on. 6. Membership Reward Program The final initiative is the Membership Rewards Program. In order for any of the initiatives to be successful, we need the support of the membership to introduce their friends, relatives, and business associates to the benefits of membership at The Club at Las Campanas. As a reward for members that introduce a prospect and sponsor the prospect for membership, we will reward the existing member with a $200/month dues credit for 12 months for a new Equity Golf or Unlimited member, and $100/month for 12 months for a new Equity Social or Charter Club member (reduced proportionately for dues reduction if buyer becomes a junior member). If an existing member sponsors more than one member, the reward will be extended beyond the first year (i.e. – if you sponsor three members, the reward would be extended for three years). The incoming member would receive the same credit for a year. As noted under items 2 and 4 above, a vote is being taken on bylaw amendments related to those two particular initiatives. If you are an equity member you should have received a ballot in the mail, please mark it and return it as soon as you can. |