Tower SACCO Profile
Tower SACCO was founded in 1976 in Ol’Kalou, Nyandarua County, by a group of visionary primary school teachers who wanted a safe and convenient platform to save and access affordable credit. What began as a small teachers’ cooperative has, over the decades, grown into one of Kenya’s most successful and trusted Savings and Credit Cooperative Societies.
Today, Tower SACCO boasts a membership of over 250,000 members drawn from across the country and an asset base exceeding Sh20 billion. Its steady growth reflects the confidence and trust members continue to place in the institution.
Membership and Expansion
Initially targeting teachers, Tower SACCO has since opened its doors to members from diverse sectors, including civil servants, entrepreneurs, farmers, and employees in both the private and public sectors. This inclusivity has fueled its expansion, making it a household name in Kenya’s cooperative sector.
The SACCO has established a strong physical and digital presence to serve its growing membership. Currently, it operates 29 outlets in 8 counties, supported by over 300 agents, and provides modern banking services such as internet banking and mobile banking, ensuring that members can access services conveniently, anytime and anywhere.
Products and Services
Tower SACCO offers a wide range of financial products tailored to meet the unique needs of its members. These include:
- Savings products: Fixed deposits, children’s accounts, and special savings schemes that encourage a saving culture.
- Credit products: Personal loans, business loans, asset financing, development loans, and emergency loans provided at competitive interest rates.
- Digital services: Mobile banking platforms and automated systems that allow members to access their accounts conveniently from anywhere.
By combining traditional cooperative values with modern technology, Tower SACCO ensures its services remain relevant and accessible in a fast-changing financial environment.
Governance and Leadership
Tower SACCO is governed by a democratically elected board of directors who provide strategic direction and oversight.
Tower Sacco is represented by 9 Board of Directors and 3 supervisory Board members who are elected from various electoral zones. The Board of Directors is a policy making body that oversees the implementation of the resolutions made by the Annual General meeting & directs the affairs of the Society.
The management team is composed of experienced professionals who are committed to driving the SACCO’s vision of financial empowerment. Through regular Annual General Meetings (AGMs), members actively participate in decision-making, a reflection of the SACCO’s transparent and accountable governance structure.
Impact and Contribution
Beyond providing financial services, Tower SACCO has played a significant role in improving the lives of its members. Many have been able to educate their children, expand businesses, acquire land, and build homes through the affordable credit facilities offered. The SACCO also contributes to community development initiatives, supporting education, social welfare, and economic empowerment programs in the regions where it operates.
Tower SACCO envisions becoming the preferred financial institution for all Kenyans by continuously innovating its products and adopting emerging technologies. Its mission remains to enhance the economic and social well-being of its members through savings mobilization and provision of affordable credit. With its strong financial base, transparent governance, and commitment to service excellence, Tower SACCO is well-positioned to remain a leader in Kenya’s cooperative movement for decades to come.
Author: Andrew Walyaula
Andrew Walyaula is a seasoned multimedia journalist. satrendmagazine@gmail.com
