Freezing membership fee with love (7)
I believe the answer is:
subzero
'freezing' is the definition.
(I've seen this before)
'membership fee with love' is the wordplay.
'membership fee' becomes 'sub' (I've seen this before).
'with' means one lot of letters go next to another.
'love' becomes 'zero' (I've seen this before).
'sub'+'zero'='SUBZERO'
(Other definitions for subzero that I've seen before include "Colder than freezing" , "perishing" , "very cold" , "Extremely nippy" , "Less than 0" .)