The membership options panel in Alumni.Fund Options has two primary functions. First, it offers you the ability to set memberships available for all clubs/chapters to sell without the ability to edit them. Or, it offers you the ability to create suggestions for memberships that clubs can then edit from.
To start, you'll need to create the various tiers of membership. To do so, enter a name of the membership tier in the Label text field. Then, enter the price for that membership tier. If you have an additional tier you'd like to add, click the Add More button. If you wish to get rid of one that you've added, click the red subtraction symbol next to that tier (this only appears after you have more than two tiers present).
The final question in the Membership Choices panel is where you can determine whether or not club/chapter leaders will have the ability to change these pricing tiers for an Alumni.Fund page they've designated as being for memberships. If you select "Yes" then when a club creates an Alumni.Fund page for memberships your options will appear, but they can edit them. If you click "No", then when a cluck creates their Alumni.Fund page for memberships they'll be unable to edit the various membership tiers.
As always, be sure to click Save Settings at the bottom when you're done editing.