The RSL NSW has nearly $350 million in cash and liquid assets held across hundreds of sub-branches, much of which critics say is not being properly used to help needy veterans.

A detailed analysis by Fairfax Media of the state RSL's finances reveals huge wealth that is concentrated in larger metropolitan sub-branches and regional centres, and that RSL headquarters acknowledges needs to be better exploited for veterans services.

Fairfax Media has been told of cases in which sub-branches were handing out "beer cards" of up to $500 value with every membership renewal, sub-branch executives wanting to fly themselves and their spouses to Thailand and Indonesia to personally view the tailoring of their RSL blazers, and fully-paid trips for executives and their spouses to overseas battlefield sites.

There have also been cases of sub-branches having gold commemorative badges made for members.