By now you’re sick of hearing about fraternity membership dues. Trust us, your chapter treasurer is sick of talking about them.
He’s like the man shouting about the end times, trying to get you to join him at his remote ranch, awaiting the mothership.
Hey, you’ve already got the white robes from last semester’s toga party.
The difference is that for fraternities, real financial catastrophe waits at every corner, and your treasurer is trying to keep the chapter coffers from falling bare.
You’ve heard it all—the incentives for paying early, the penalties for paying late, the payment plans, the scholarships, the threats, the pleading.
Yes, you paid your dues late this semester.
You’ve paid on time or early every semester before now. Your treasurer owes you a little slack, right?
The answer’s a resounding no.
If you understand what your dues pay for in the chapter budget, then you also understand that late or non-payment hurts both you and your brothers.
Paying your fraternity dues late is sure to teach you some life lessons—such as what it’s like to sit out this semester’s big social, or to be benched from the intramural soccer team. Yet what you learn by paying them is even more important.
OmegaFi’s here to let you and your treasurer know that the mothership isn’t coming, and no one can predict the day the world will end. But you can help your chapter flourish by learning to be financially responsible.
Here’s why Paying Fraternity Dues on Time Will Change Your Life.
Teambuilding: How Paying Your Fraternity Dues Brings Brothers Together
You remember the teambuilding exercises you did with your pledge class, right?
Those skills you learned working together weren’t meant to be stashed away in your dirty closet, only for you to bring them out on the intramural fields.
Paying your membership dues may not seem like a big deal. Why would your brothers care whether you pay?
They’ve never said anything to your face. And they probably won’t.
But rest assured, not paying means your brothers pay more. You know it. They know it. They aren’t happy about it, either.
Now imagine a world where every brother’s dues are paid in advance, and the budget is thriving. Imagine no brother carries another’s weight, and all are on the same page thanks to the treasurer’s financial management and guidance.
The benefits compound. Fewer chapter initiatives need to be cut mid-semester. More brothers are participating in events. You share a sense of community and responsibility.
You can see the results of your dues dollars in action, and truly understand the positive impact you have when you work together.
Take this semester’s formal as an example. Gary paid for the venue. Will paid for the caterer. Francisco paid for the raffle prizes. Ahmad paid for the PA system rental.
Together, you made that formal rock.
That’s the lesson you learn from paying fraternity dues on time.
How You Do One Thing Is How You Do Everything as a Fraternity Man
The financial habits you form now will stay with you as you graduate and enter the professional field.
Paying your fraternity dues late may not seem like a big deal in the short run, but chances are you’re late because of a bigger money management problem.
If you could easily substitute fraternity dues with an electric bill or a credit card payment in this scenario, it means you’re uncareful with money. If you’re not thinking ahead for dues payments, you’re probably not savings-minded, either.
That’s a habit you want to fix before you graduate. It can have unfortunate consequences in the meantime as well, like:
- Loss of full participation in your chapter. That’s time you’ll never get back with your brothers, and they’ll be paying extra for you to sit events out. Make every second count.
- Loss of membership. If your dues debt piles up, you may reach a point where not only can you not pay it, but the chapter is forced to arbitrate and potentially strip you of your brotherhood. After that, other chapters will likely avoid you like the plague, too.
- Being sent to collections. Goodbye, credit score. Not only that, but if brothers must write off your unpaid dues after unsuccessful attempts to collect, you’re hurting the very men you’re supposed to be looking out for. Not cool.
- Nobody wants to network with you. Even if you manage not to get the boot from your chapter or end up with creditors hounding you, chances are brothers will remember you. Not paying your dues on time, especially if it’s a chronic problem, makes you look lazy, disorganized, uncommitted and disrespectful of others’ time and effort. Once you graduate, you may get the cold shoulder or a blow-off by brothers or alumni you once thought were great network contacts.
Luckily, you still have time to break bad financial habits and get back on track.
Start by studying your treasurer’s budgeting habits. Typically, a treasurer will budget for a surplus. Even if that surplus gets spent on unforeseen expenses, it helps keep your chapter out of the red.
Pick his brain about his budgeting process. See if your campus offers financial advising as well. Talk to anyone and everyone who can help.
Get a handle on your personal finances with as much authority and planning as the chapter does. And pay your dues on time. Your treasurer will appreciate your help.
Once you learn the lessons of paying fraternity dues on time, you’ll also learn to balance your budget, become fully involved in your chapter, and stash a little extra in your pocket for a Crème? Brulée Latte or two.
Who knew paying your dues could be so delicious?
What are some ways that paying your dues on time has improved your life as a fraternity man? What are some negative impacts you’ve experienced from paying late? Put your money where your mouth is in the comments below.