Common Good Economy
Software Requirements Specification

1. Bank
   1. General Ledger
      1. Standard GAAP capabilities.
      2. Gets data only automatically from check-writing software etc. (no human data entry)
      3. Reporting
         1. Report public infomation to the public on the internet. (Everything is public at some level of aggregation.)
         2. Electronic reports to the Association.
         3. Regulatory reporting.
         4. Reporting for the Bank as a whole and individually for each Common Good Community.
   2. Deposit Accounts
      1. Conventional Account Features
         1. Create/Edit Account Types
            1. Checking/Savings (NOW)
            2. CD
            3. IRA, Education Savings, 401k
         2. Manage Deposits and Withdrawals -- electronically, but not in person
            1. Check Clearing
            2. Online BillPay
            3. ATM, POS, and credit card
            4. Phone transfers
         3. Online Reporting to Customer
      2. Common Good Account Particulars
         1. Real-time electronic notification to Association, of transaction requests.
         2. Accept requests from Assocation to process other transactions first.
   3. Lending
      1. Constraints
         1. Risk Management
         2. A way to manage strict regulatory and policy constraints as well as soft constraints such as Common Good Community investment priorities.
         3. Read data from General Ledger as the basis for some constraints.
         4. Accept data from the Association (on behalf of remote Common Good Communities) specifying investment priorities.
         5. Supply data to the Evaluation and Approval process.
      2. Credit-line Applications (web-based customer interface)
      3. Loan Structuring (tools for Community Advisors and Loan Officers to design and set credit-line terms, including expected credit from the Association, other financial institutions, and/or other partnering organizations)
         1. With collateral
         2. Without collateral
      4. Evaluation and Approval (tools for Community Advisors and Loan Officers to evaluate specific credit-line applications)
      5. Loan Tracking / Servicing
         1. Structured Status Reporting by Borrower (becomes part of the regulatory reports).
         2. Generates reminders to customers and alerts to Community Advisors.
      6. Regulatory Reporting
2. Association
   1. General Ledger
      1. Same capabilities as the Bank's G/L, except for regulatory reporting.
      2. Human interface for tracking expenses at the community level.
      3. Reporting for Association (exclusive of the Bank).
      4. Reporting for the Common Good Economy (including both the Association and the Bank).
   2. Accounts
      1. Mutual Credit Accounts (like a checking/savings account)
      2. Virtual Hybrid Accounts
         1. Like a checking/savings account, with automatic sweeps from other accounts)
         2. Receive real-time notifications from Bank about transaction requests.
         3. Request transactions between Members.
         4. Request stock transfers.
      3. Mirror/Audit Bank Account(s)
      4. Mirror/Audit Stock Account
      5. Customer can manage options through SMS, phone, or web interface
      6. Notifications by email, fax, SMS, and/or phone
   3. Lending and Granting
      1. Similar to the Bank's lending capabilities.
      2. Loans and Grants are made in Mutual Credit.
3. Transfer Company
   1. Keep track of who owns how many shares of Bank stock.
   2. Accept transaction requests from the Association or the Bank to transfer n shares from itself to a Member or vice versa.
   3. Accept requests from Bank personnel to issue or retire n shares.
   4. Report to public on ownership and transfer statistics.
   5. Alert Association and Bank to any unusual activity.