A news letter sent out is mostly for the benefit of the Alums. So center it around Alums.
Current events and updates of the Chapter.
Pick one or two Alums to give an update about.
List Marriages/Births along with the name and affiliation of the wife/Husband.
Calendar of the Semesters events if room.
List someone who is in charge of keeping the email addresses. Any changes of email or addres moves should be funneled through one person. You may need someone with the savvy to be able to keep a running list for address changes in a file somewhere.
Missing Alums.
While Pictures are fun, they can also add to the cost of printing.
Try to do at least one a Semester. If can afford more so be it.
Most Alums no mater how far they are removed thirst for any information to try to keep abreast of what the Chapter and other Alums are doing.
By doing this, it will help you when you need help instead of just asking when in need.