You do not have to be president for residencies to care. A CV of multiple club officer positions goes a long way. The test packets at Nova from SOMA are absolutely essential. You need these old tests in order to be prepared, but some courses like physio do not allow you to keep the old tests which stunk when you were trying to figure out what you missed.
At the same time, only join clubs that you are interested in. The fees start to add up, and look into what these clubs offer you. It does not help if there are annual conferences, and the club does not help you get your absence excused and do not help with the costs.