North Melbourne is poised to reduce its debt to below $1 million by the end of the year, according to CEO Carl Dilena.

"Our plan is to keep chipping away by $400,000 a year because it's at a fairly manageable level with interest rates, but with any surplus we would look to take a little more off it," he told The Herald Sun.

"We are forecasting a profit on par, if not slightly better, than last year and the season is going well with membership and sponsorship strong."

The club broke its membership record last week and now sits just under 42,500 which is about 1,000 ahead of the previous best mark. However there's still around 8,000 unrenewed members from 2015 that the club is hoping will rejoin soon.

"If we can entice the majority of those people back, we'd be looking at an incredible year. We believe we can get to 45,000 and we are eying 50,000 in the not too distant future," Dilena told NMFC.com.au.

"Our message to those people has been, 'What are you waiting for?'"