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Prepayment Discounts. Example: Semester Dues are $325 (5 monthly installments of $65). Those who can/or make arrangements to pay $300 by the first day of classes only pay $300, and get a $25 discount.
The key to this is you want to make the discount big enough that at least some members want to take advantage of it, but not SO big that everyone does...otherwise, you'll be doing a disservice to your chapter budget.
Another thing you could do is purposely raise chapter dues with the intent of offering a discount, or building your chapter budget based on the discounted amount per member and anybody who paid in installments was just adding a little more padding to the chapter budget by paying the higher amount. This may be necessary if your have a cash flow issue at the beginning of the semester....raising chapter dues to offer a discount to those who can pay in full, forces those members to pay in full early on in order to avoid paying more money over a longer period of time.
It's no different that paying an installment fee, like for your car insurance, versus a discount for paying the entire premium up front.
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AΞΔ - Courage, Graciousness, & Peace
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