What is Normal(PCTM) and ONLINE Membership?
WAIIC is a club run by volunteers. Hence in order for WAIIC to be active and vibrant, WAIIC needs its members to actively contributing and sharing knowledge.
(Update: Under eWAIIC, we no longer need to classify Members as Normal(PCTM) or ONLINE Membership.
With effect from 1 Aug 2019, we have implemented ONE Membership.
https://www.investorsinnercircle.com/blogs/implement-one-membership-scheme-wef-1-aug-2019)
WAIIC Membership is divided into two types:
- Normal(PCTM) Membership where PCTM stands for Participating, Contributing Team Member, and
- ONLINE Membership where the member may avail himself/herself to WAIIC resources without participating or contributing in return
To encourage members to choose Normal(PCTM) Membership over ONLINE Membership, we have set the Membership fee for ONLINE Membership to be twice that or Normal(PCTM Membership)
Normal(PCTM) Membership
Under Normal(PCTM) Membership, the member has to be part of a Team. Being part of a Team means that the member will be involved in a support system that could include physical meet-ups, email communications, and instant message groups. Since the Team will be scheduled to do Stock Presentations, the member will be able to participate and contribute. It is this process of debating and preparing for the Stock Presentation that will bring the greatest benefit in understanding, practising, and gaining confidence in WA strategies.
ONLINE Membership
Should a member decide not to join a Team, he/she will be under ONLINE Membership. Since the member is not part of a Team, he/she will never be scheduled to do a Stock Presentation. Meanwhile the ONLINE member can still avail himself/herself to WAIIC resources available. ONLINE members do not need to attend Club Meetings. When seats are limited at Club Meeting, ONLINEmembers will not be allowed to attend Club Meetings.
Note: First year members (aka Freshmen) are given a 1-year period to look for and join a Team. During this period, Freshmen are placed on ONLINE membership scheme, but allowed to pay Normal(PCTM) membership rate, and allowed to attend Club Meetings.
Given a choice, the natural tendency of members is to avoid joining a Team so that they would not be scheduled for Stock Presentation. However, without Teams doing Stock Presentations, WAIIC would not be beneficial and relevant anymore. Hence, in order to encourage members to join Normal(PCTM) Membership rather than ONLINE Membership, we have raised the Membership fee for ONLINE Membership to be twice that of Normal(PCTM) Membership.
Historical Note on Origin of ONLINE Membership
When WAIIC was started, there was only one Membership scheme, which is Normal(PCTM) membership. All WAIIC Members had to join a Team. Members without a Team were not allowed to renew their Membership. Along the way, we found that there were some members who are keen to join WAIIC, but they had valid reasons for not being able to attend WAIIC Club Meetings, or to join a Team. Some of these reasons were:
(1) There is no WAIIC Club in my City. Many WA graduates travel from other countries to attend WA course.They return to their own city after the WA Course. They would like to attend WAIIC Club Meetings, but there is no WAIIC Club in their home city.
(2) Frequent Travel / Outstation. Some members have jobs which require them to travel frequently, or they may be out-stationed several months a year. This makes it difficult for them to attend WAIIC Club Meetings, or participate in Team meetings.
(3) Night Shift / Classes. Some members are on night shift, or taking night classes, which clashes with WAIIC Club Meetings.
Given the above situations, we created the ONLINE Membership scheme to cater to members in such situations.