The Masterton Cosmopolitan Club has called a special meeting with "all members urged to attend".
Club treasurer Alan Stewart said he could not disclose the reason behind the meeting, but the club's Facebook page says it "is to consider the future of the club, its property and finances".
The members' meeting is at the Queen St club on Wednesday at 7pm and will be followed by a Cosmopolitan Club Trust meeting for members with money invested with the trust. The Cossie Club, established in 1972, has faced financial struggles and a stagnant membership.
Last year, Cossie Club members agreed to explore amalgamation with Wairarapa Services and Citizens Club, as members agreed a merger would be the club's best chance of long-term survival. Wairarapa Services & Citizens Club, also known as Club Wairarapa, said no to the merger.
Club Wairarapa president Bill Hey told the Times-Age in November that of the club's members "there were about 98 per cent not in favour" of the amalgamation.
In May, the Cossie Club launched a debenture scheme which asked members to lend money to help save it from going under. In June the club told the Times-Age it had met its minimum target of $100,000. If $250,000 was raised, the club would be able to clear its bank debts.