A new member who has not attained the age of 41 may request the board to approve a youth equity membership allowing the payment of the full purchase price in up to five (5) annual payments. The initial payment at the time of approval is 20% of the current inception price (currently $12,000.00) and the same amount is to be paid each year thereafter until fully paid. All purchase funds will be held in an equity escrow account until fully paid. The balance must be paid before attaining the age of 41. A membership certificate is not issued until membership is paid in full. If all payments are not made, member withdraws from the club or similar, all sums towards the purchase price are forfeited.
As a youth equity member, annual dues and minimum food and beverage spending commitment are one half of the then current full dues and spending minimum. A youth equity member would be responsible for the full Capital Reserve and Improvement Fund contribution, currently $1,140.00 per year.
In summary:
$2,400.00 per year towards membership purchase until fully paid, provided all paid before age 41.
Annual Dues: $1,614.00 at current dues rate
Capital Reserve and Improvement Fund: $1,140.00
Minimum Spending Commitment (food/beverage):
Family: $600.00
Single: $400.00