I held a Vice President and then president position for a club sport at my university and I definitely put that on my application in the extracurricular section. I am currently the treasurer for my podiatry class but I was told it doesn't matter too much residencies. The more you can add to your application the better, and leadership always looks good.
It is definitly a feather in your cap, obviously it is not a golden ticket but it helps. It probably helps the biggest in interview material and essay material. Being a physician requires a lot of leadership and coordination, being a club officer shows you are capable and enjoy both.