5. Findings . Development of a savings culture - from the clients visited (all of them are saving at the various FSCs) it is evident that the creation of a savings culture in South Africa is crucial for economic development. . Importance of savings - clients (especially those in the rural areas) who saves with an FSC is in a position to access funding to start their own business which could lead to an improvement in their socio- economic conditions. The money they borrowed are used to meet their basic needs, e.g. food, shelter, health, education etc. . "Second Tier" banking industry - FSCs have created a "second tier" in the banking industry. . Role of FSCs in economic development - members of the FSC are in a position to establish a micro-business both rural and urban areas which has raised their standard of living. . Funding provided by Samaf - Samaf provides capacity building grants to FSCs, provides these members with training on various skills like leadership and management skills, record keeping, importance of savings and basic financial management. . Assistance to vulnerable groups - the development of FSCs provides financial service to vulnerable groups including woem, the youth and the disabled. This has helped to elevate their status in society through economic and asocial empowerment. . Interests charged by FSCs - interests charged differs by the various FSCs, in other words there is no consistency with regard to the rates charges, e.g. some charge rates per month and others per year. . Application of Samaf rules and regulations - the application of Samaf rules and regulations differ from province to province.