Achievement

A credit association management system that integrates accounting functions with members’ records management periodic contribution collection processes and automatic dividend and rebate computation functions.

Web-based member statement of accounts statement over the Internet.

Operational since year 2004

Location

Economic Commission for Africa

Addis Ababa

Facts

More than 1,810 members

Members from multiple UN Agencies

Multiple loan and saving types with multiple interest rates

Dual currency system, Ethiopian Birr and United States Dollars

Description of Software System Delivered and Implemented

Financial Management

Accounts, Members and Association

Dual currency handling, Ethiopian Birr and United States Dollars

Automatic conversion facility between Birr and USD

Automatic generation of members’ monthly contribution and loan repayment lists

Automatic journalizing of members’ contributions and loan repayment transactions

Real time account balance generation

Automatic processing of members dividends every six months

Automatic processing of members rebates on loan balances every six months

Members’ statement reports over a secure Internet connection