Canberra Club past president Ray Dawson and director Chris Stephens have called an extraordinary meeting on Wednesday night to ensure members, and not the board alone, determine the struggling club's future.

Members approached Mr Dawson and Mr Stephens unhappy with the board's handling of affairs since selling its interests last year in Canberra House in West Row Civic, which the Morris Property Group plans to redevelop.

Deloittes consultants were engaged to analyse proposed mergers with the Commonwealth Club, Yarralumla, or Yowani Country Club at Lyneham, but Mr Stephens said members could not see the final report. ''The members paid for it. They own it. It is their report. As things stand, a majority of the board say members can't see it,'' he said. ''Ray and I are going to take this head on and make sure members do get it.''

Emails among members show, although owning assets of more than $4 million, the club has traded poorly in recent years, lost $474,000 last year and is losing nearly $40,000 a month.

Some are concerned the Yowani Club, although good for golfers, was also trading poorly, while the Commonwealth Club's offer, while more suited to a business membership, was inadequate.

Mr Stephens said the club was drawing on reserves to trade. ''The money we received from selling first the building then the lease, is actually financing the current operations of the club and no business can continue doing that.''

Secretary John Bundock said Deloitte may not have meant the report to be distributed to members. Mr Bundock said other board members felt Wednesday's meeting was premature.

President Rick Reeks did not comment but, in a letter to members, said the Commonwealth Club's proposal was not a merger, and would see the dissolution of the Canberra Club.

''The oldest social club in Canberra will be gone, all of its traditions and history will be down the drain,'' Mr Reeks said.

Commonwealth Club president Barry Walker said a letter in September 2013 from his club was not a merger proposal, but a response to the Canberra Club.

The letter proposes members wishing to join the Commonwealth Club would pay an application fee of $350, and the entrance fee of $3000 would be met from funds transferred from the Canberra Club to the Commonwealth Club. They would also have no annual subscription fees for five years, and reduced subscription fees in subsequent years.

In his letter, Mr Reeks said a merger with Yowani would mean a new name - The Canberra Yowani Country Club - and constitution, with board members from each club and life-members' benefits.

''Of the proposals submitted to the club over the years, this proposal is the only one that creates a true merger with a like-minded club and has the attributes that meet the criteria of being in the club and members' best interests,'' Mr Reeks said.