Steel Ring strives to maintain a diverse membership adequate in numbers to achieve its goals. This requires attracting new members at least once a year, more typically each semesester.

Prospective members apply to the Undergraduate Committee for membership by means of a letter of application that includes a list of past and present activities. The application letter also addresses the issue of available time and willingness of the candidate to be an active participant for the current semester. The applications are distributed to Steel Ring for review and decisions. Once informed of the membership decisions, the Undergraduate Committee notifies successful and unsuccessful applicants of the decisions. At the first meeting after selection of new members, orientation of new members is the first order of business. Steel Ring membership is renewable each semester by invitation of the Undergraduate Committee. Renewal is based solely upon significant participation in SR.