These can work quite well. Students need to be involved from the very outset, as stakeholders. They should be allowed to select their own leaders. There must be close contact with, and easy access for leaders to a faculty contact. Students often appreciate talks by faculty members on their specialisms. They should be given a space to get together and organise their own discussions and other events.
You can start with focus groups and extracurricular activities, such as scientific seminars and community-service. Support at the beginning from seniors and other faculty members is a key.
I did not organize scientific associations for students. I created and ran student research clubs and I have positive experiences in this matter. Students' scientific circles can play the role of additional instruments of student motivation for scientific work. Students usually enroll in student science groups who plan to develop their scientific research workshop and plan to develop their research projects in a specific field in which they specialize.