You can add news that only members can see when logged into their members area.
If you add news then a News button will appear, which once clicked will take them to the page with all of the news posts you've created.
An RSS button will also appear allowing them to subscribe to an RSS feed of your news.
If you do not add news then neither of these buttons will appear.

When logged in as the admin go to "Manage News".
From here you can add new news and edit/delete existing news.