Depends.
I've been involved with three different honor societies while in college: Omicron Delta Epsilon (Economics), Beta Alpha Psi (Accounting), and National Society of Collegiate Scholars (general).
Omicron Delta Epsilon has invited me to join every year since I declared as an econ major: I've always thought it over for a month or two, and always ultimately decided it wasn't worth it. I've never heard of the chapter on the Univ. of Washington campus, only as a larger organization. I don't know anyone else that has joined it nor has anyone mentioned it to me.
I joined the National Society of Collegiate Scholars (NSCS) my first year at the UW, and it sounds like they have a fairly active chapter on campus. I, however, have never noted it on my resume, never attended a meeting, and never met someone else who was actively involved in it. I've never needed it.
Beta Alpha Psi, however, is something else entirely. I joined just this last Winter, got extremely involved both with the leadership and with community service; one of the best investments, financial and time-wise, that I've ever made. I've met more recruiters, professionals, and future leaders than I think I could have had I tried on my own. It's well regarded in the accounting community and it provides dozens of networking opportunities throughout the year. It's primarily an undergraduate organization but I've already pledged my assistance for the coming year (grad school) for a program the UW runs for its med, soon to be MBA, students; I figure the time investment for me over the summer will be the worst part, and it will help me to know the BAP leadership for the coming year and keep an eye out for potential employees/interns for the firm I'll probably be signing with full-time. Opportunities like this are why I like BAP and why I'll seek out BAP members as I assist recruiters in the future.
In short: it depends. BAP has served me well. NSCS and ODE have not, but I suppose for those who have the time and inclination to get involved they will provide value. If you're looking for something to add to your resume I think you're wasting your time, as no one cares unless you're Phi Beta Kappa or similar organization.