I have noticed that some members are confused about Flight Credit vs Advance Time. While the two accounts bear some similarities, they could not be more different. I thought an article in the Vortex might help some of you understand this topic better.
The club has had Advance Time for more than 30 years. Think of this as a checking account that bears no interest. You can put money into your account at any time and you can use money in your account to pay for any club obligation or even request that it be refunded to you. Many members put money in their advance time account to reduce the paperwork required (both on the club’s part and the member’s part) to pay for dues and flights. It is also a great way to give the club more working capital.
The club started Flight Credit just last year. This account holds funds that have been assessed due to not meeting the MMFR (Monthly Minimum Flight Revenue) requirement. As a reminder, all members on flying status are expected to generate a minimum of $800 in flight revenue during any 12-month period (this is prorated if you have not been on flying status the entire time). If you did not generate this amount of revenue in the past 12 months, then you will be assessed up to one-twelfth of the yearly minimum, rounded to the nearest dollar, or $67. This amount is charged to your dues account and credited to your Flight Credit account. You can only use Flight Credit to pay for flight time and it will expire in 12 months if you have not used it by then.
The following table summarizes the similarities and differences:
If you still have questions, please feel free to reach out to me. The best way to reach me as at firstname.lastname@example.org.