What is a bond share?
A bond share is a unit of ownership. The club sells bond shares to new members in accordance with its bylaws and then either repurchases or retires bonds when members leave the club.
How much is a bond share worth?
The cost of a bond share is $200. This is a one-time cost and members then use the same bond shares each year and just pay their yearly membership dues and any other fees that may be assessed.
How many bond shares do I need?
Each membership whether single, couple, family or tennis only requires one bond share.
How do I resign my membership?
Memberships must be resigned in writing prior to April 1st in order to be eligible for repurchase and all previous season pledge invoices must be paid in full. Bond redemptions received between October 1st – April 1st will be refunded the following October.
Please complete the following Bond Redemption form https://www.cognitoforms.com/WallingfordSwimAndRacquetClub/BondRedemptionForm
What if I don’t resign my membership before April 1st.
If you don’t resign your membership before April 1st then you are responsible for the annual dues for that year. If the annual dues are not paid prior to opening day, then you will not have access to the pool and will be charged inactive dues. If there is a wait list you will be notified your membership has been canceled and your bond will be retired and have no value. Any former member is welcome to re-join the club by paying the then current new member dues and fees in addition to repurchasing bond shares if they are available.
When do I get my refund if I resign my membership before April 1st?
The club will repurchase the bonds of any shareholder that properly resigns their bond. Checks will be issued by the treasurer in October.