Outgoing president Lyn Comer said the club's closure is because a new president and board members haven't been nominated.

"There are some members who have been president twice, or three times," Ms Comer said.

The club has only 18 members remaining, with some of those still working full-time.

"I didn't do my first presidency until I retired," Ms Comer said.

"Some people think it is a lot of work but it is really what you want to put into it and how much work you create for yourself."

The club is best known for its Christmas Raffle, which has been a fixture of the festive season for more than 20 years.

Ms Comer said the raffle won't be lost to the community, with two local Rotary clubs expected to step in.

Rotary District Governor Grant Hocking said the club's decision to fold was made earlier this year and is unrelated to COVID-19.

"The club have had a proud and vibrant history supporting many groups in their local community and around the world," Mr Hocking said.

"Most members are moving to one of the other five Rotary clubs in Bendigo."

An 11-year veteran of the club, Ms Comer will be taking a break from Rotary duties.

Other club members have flagged they will join other clubs, including Rotary Club of Bendigo Sandhurst and Bendigo South.

By June 30, the club's members will have either resigned or transferred to another club.

Five members, comprising the club's board, will continue until December 31 to clear out the Rotary club's Park Street facilities.