I think that an accomodation should be made. If the club feels it is giving away too much, then make a sliding scale. Here a n example of what I'm talking about:

Members that celebrate their 3rd anniversary before 12/1/06 pay $300 now;

Members that celebrate their 2nd anniversary before 12/1/06 pay $350 now;

Members that celebrate their 1st anniversary before 12/1/06 pay $400 now;

Life membership begins for all of the above on their 3rd anniversary.

This would be a one time offer (only because of the dues increase). Offer ends 7/1/06