Announcement of 2019 ECCT membership fee increases
At the ECCT’s Annual General Meeting held on 7 December 2018, Regular ECCT members approved a proposal made by the ECCT’s 2018 Board of Directors to raise ECCT membership fees for 2019 and the related change to the ECCT’s constitution that this necessitates (since ECCT membership fee amounts are written into the ECCT’s constitution).
Background context and rationale
After careful deliberations, the ECCT’s Board of Directors has decided that an increase in membership fees is necessary to ensure the future sustainability of the chamber.
ECCT membership fees have not been raised for 4 years, despite an increase in inflation and an increase in expenses following the expansion of the ECCT office in 2017. The chamber had managed to avoid increasing fees since the last increase in 2015 thanks to a steady rise in membership that had offset the rise in expenses. However, after posting a small surplus in 2017, the chamber is expected to post a deficit in 2018. Despite managing to keep costs under control and under budget, the chamber’s revenues in 2018 have not been sufficient to cover offset expenses. While the chamber can absorb a single annual deficit, the operations of the chamber would not be sustainable in the long term unless finances are balanced. The Board of Directors has therefore concluded that the only viable option to ensure the future financial sustainability of the chamber is to increase membership fees.
At the AGM, members approved the proposal by the Board of Directors to increase membership fees by approximately 6% (the actual amounts depend on the membership category and are rounded off to the nearest NT$500). The board believes that this increase is modest given 4 years of inflation.
For a list of membership fees please refer to the Fee Chart below,