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There are very few differences between a credit union operation and a ba= nk operation. The primary difference is the ownership structure. An i= ndividual or a group of individuals owns a bank. The members =E2=80= =93 or account holders - own a credit union.
Products are nearly identical =E2=80=93 the names only are different.&nb= sp; Credit union products can be set up in Mifos X as it is today and = description of the functionality to be achieved.
The difference in setting up a credit union/SACCO account is the members= hip fee.
Credit unions/SACCOs and similarly structured financial institutions cha= rge a membership fee. This fee must be collected that the time of app= lication - therefore it is a client-level fee. This fee must have the= ability to refund back to the client based on the organization's policies.=
The fit in workflow is:
# | Title | User Story | Importance | Notes |
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1 |
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Attribute | Description | Notes |
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Below is a list of questions to be addressed as a result of this require= ments document:
Question | Outcome |
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