I highly recommend http://www.mailchimp.com , they are free if you're sending under 12,000 emails per month, they have pre-existing templates

If you have the "full" suite of Microsoft Office, Publisher and Word have templates for newsletters. I use OpenOffice, for which you can download a number of templates. I also use PrintShop from Broderbund - they often have sales and you can get it right now for 29.99.

Plus one to infoscouter's recommendation of OpenOffice.
It's free and is an excellent suite of tools with wide ranging compatibility with similar tools.

1. Create a free blog (I prefer WordPress) and create each newsletter item as a new post.
2. Copy the permalinks into an email. Write headlines.
3. Send the email.

That way, too, it's all online for reference.

Write everything in post on this forum. Post it and e-mail everyone the link.

It needs to be in a document format, so something that would render as a PDF or other document that could be both electronically send and printed if necessary.

I'll look into OpenOffice.

Google docs is free and can be used to easily accomplish all of your tasks. All you need is a Google account and web access.

1. Sign in to your Google account - create one if you don't already have one. http://doc.google.com

2. Click on Create and then click on From Template

3. In the search box at the top of the page, enter "newsletter" and click the Search Templates button.

4. Scroll through the results and pick one that you like.

5. Click on the "Use this template" button and make your newsletter.

Once you're done with your masterpiece, you can email it, turn it into a web page, or download it in several different formats (including PDF). One cool feature in Google docs is collaboration. You can share your project with others and work on it at the same time.