I've been thinking the same for a while. Would allow prize funds to be set up for tournaments outide of the strokeplay format that is only thing that can be formally set up through current CC tournament process.
For example, if you want to set up a CC matchplay knockout there is no way currently to set up a prize fund for it. If you could set up a prize fund with set rules for payout everyone could pay their entry fee in to it and the tournament/CC owner can then dish out the prizes on completion. I see no reason why this can't be as credits rather than Pro Shop items.
Would need competition rules and payout to be clearly defined (not difficult) so that if someone feels hard done by they can appeal but hopefully this will never/rarely happen.
WGT can still take their cut, I have no issue with this, if they didn't then WGT may not exist.
And yes, ability to set up CC mailing/messaging list would be great (although there is the CC Forum I suppose). For those wishing a short term solution, captains can get members to send their email addresses to them and set up a mailing list outside of WGT for those happy to be on it.