The top fifteen percent of undergraduates may be eligible after completing the first year of study. Part-time or full time students qualify. The Society's constitution prohibits discrimination of the bases of race, colour, sex, religion, handicap, age, sexual orientation, political orientation and financial or social status. The most obvious benefit is recognition of outstanding academic achievement. This is achieved firstly through obtaining membership, and then by formal recognition at a reception.
All members receive a certificate acknowledging their membership.
The society encourages its members to become involved in community service. Through involvement with these programs, Golden Key members are given the opportunity to develop their leadership, organisational and time-management skills, and to improve upon their communication skills. A very important service to students in the awarding of annual scholarships. The undergraduate scholarships are awarded by each chapter to its most outstanding members. Members are given the opportunity to develop corporate contacts and to improve their job interview and resume writing skills.