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Teach Children to Save South Africa™ (TCTS SA™) is a generic financial literacy programme of The Banking Association South Africa. The programme is a collaborative effort of the banking industry and broader financial sector located within Consumer Education/Financial Education, an element of the Access to Financial Services transformational pillar. The overall goal of the initiative is to teach children to save. The secondary goal is to promote volunteerism in the sector. Volunteer bankers and financial sector professionals deliver one-hour savings lessons to Grades 4 to 7 nationwide. It was on the 25th July 2008 that the TCTS SA™ was piloted in South Africa.
The custodians of TCTS SA™ are The Banking Association South Africa and the South African Savings Institute (SASI). The concept of Teach Children to Save was founded by the Washington DC based American Bankers Association Education Foundation (ABAEF) in 1997. This concept was adopted, localised, customised and successfully piloted in July 2008 by The Banking Association South Africa and the South African Savings Institute (SASI) in conjunction with ABAEF, Operation HOPE and Citi.
TCTS SA™ was piloted and after resounding national interest generated, was adopted as an annual programme of the South African banking industry and broader financial sector, under the auspices of Consumer Education/Financial Education. Consumer Education in the banking industry is in competitive space. Thus TCTS SA™ was the first collaborative effort in the banking industry’s Consumer Education space.