In the current financial climate we wanted to see what sort of financial packages each of the different destination clubs were offering to help members with their joining fees. We asked each of the clubs about the packages that they offer.

What we found was that only a handful of the clubs now offered a financing package. Several of the clubs used to have financial packages in place but had stopped offering them because of the low take up from members.

Most of these clubs had found that members preferred to arrange their own financing through established relationships, rather than using the financing the club had put in place. Some members have the cash available to pay for the fees outright. Others arranged for a home equity line or liquidated some investments to produce the cash for the member deposit.

In the current financial climate with equity markets dropping and equity lines having tighter standards, it may make sense to look into the financing packages offered by the destination clubs themselves. Here is a summary of the current offerings:

*Exclusive Resorts: Transfer fee and $7,500 service fee are paid at time of membership. This option is a monthly interest-only payment based on amount financed and LIBOR + 1.95%. Members must repay the principal within five years. And there will be a 1% bank fee charged on amount financed.

**High Country: The home equity line of credit with a variable interest rate will rise or fall according to changes in the Federal Reserve Rate. Members can also lock in a fixed interest rate on all or a portion of their line of credit balance.

If you're looking at a destination club as an alternative to buying a second home the member deposit is typically only about the same as the deposit you would put down on a second home. Start with our comparison of the destination clubs table to see the largest membership deposits by club.