For the 2018-19 member year, we introduced prorated dues for members renewing their CFA Institute and CFA Society dues mid-year.
As we shared with you prior to launch of membership transactions in February 2019, CFA Institute agreed to compensate those societies that incur a loss related to the new prorated dues schedule over a year-long trial period.
Later this month, we will be providing compensation to societies that incurred a year over year relative drop in revenue for the first three months of the trial period (February through April) to close out the last membership cycle. At that time, information will be shared with your society staff about how the compensation amounts are calculated. Not all societies were impacted negatively, as some saw an increase in revenue from members who joined in April (previously a free month, but now requiring a 25% dues payment).
At the end of the next membership cycle, we will provide the remaining compensation to societies accordingly to close out the 2019-2020 membership cycle. We will also evaluate the impact of prorated dues on CFA Institute and society membership retention and satisfaction to determine whether to continue the practice.
For questions, please contact your society relations manager.
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