Custom Membership Fields

When a user signs up using WordPress Membership, Step 1 asks for the following:

Choose a Username

Email Address

Confirm Email Address


Confirm Password

How can I customize (add new) fields? I would like to ask for phone number, address, etc.

Secondly, I would like members to be able to edit these fields through their WordPress membership profile. So that they can change their username, email address, password as well as phone number, address, etc.

Help is much appreciated!!