Geoff, has it right

For us Its usually Pledge or The Pledges(plural)
I was honored to pledge Beta Theta Pi. Definitely some fun times when everything was new

I can understand why we lapse into the whole word of "new member". Of course I've never heard of my fraternity using it. I think it really sugar coats things and really is unnecessary. But then I guess old school is totally different than the way things are now.
Kevin
Beta Theta Pi Alumnus
Epsilon Mu
George Mason