[2] Society inductees who have graduated are also honored by having their names listed at the Memorial Union.

In 1907, the UW–Madison president asked Iron Shield members to help convert the failing Madison YMCA into a more meaningful student institution.

[3] Initially only open to men in their senior year of college, The Iron Shield later allowed both juniors and women to join.

[2] In 2011, the Iron Shield published an endorsement of the Wisconsin Idea in the Badger Herald.

The exact selection process is not known,[2] but students' extracurricular, community accomplishments, and (to a lesser extent) GPA are taken into consideration.