Yes it will, however you'll still be left with a list of duplicates.
I'd reccommend using a pivot table.
Make sure column A and B are lableled, I'll assum "Member" and "Dollars".
Highlight your data and insert a pivot table. I dont know what version of excel you're using so you may have to find it.
Drag "member" to the "Row" section of the pivot table, and then drag "Dollars" to the "Value" section. Repeat this so that it is entered twice.
You'll then have two "Sum of Dollars". Click on the firstone, choose Value Field Settings and change "Sum" to "Count".
You can then easily at a glance see total dollar value for each member, as well as the number of entries for each member.