Tower Sacco has continued to record success after success, trailblazing in many fronts and leaving an indelible mark that other Saccos look up to with envy.
In recent years, the Sacco has recorded outstanding growth in membership, thanks to prudent management. Its branch network is spread across seven counties in the country. Every month, the Sacco adds about 2,500 members and boasts of 110,000 members, owing to its achievement in uplifting and transforming livelihoods.
Its list of millionaires has been fast-growing currently nearing 700, with the highest saver having over Sh24 million in deposits.
Its total assets, total deposits, gross loans, and core capital have continously increased at the fastest rate in the country.
Saccos Societies Regulatory Authority (Sasra), the body that licenses DT-Saccos, has for the second year running ranked Tower Sacco as having the highest growth rate of asset size at 30.99 per cent in 2019. This is according to the Sacco Supervisory Annual Report released in August this year.
With the Sacco’s asset base now valued at Sh11.16 billion, Tower is ranked the 11th wealthiest DT-Sacco in the country, two positions up from 13th place in 2018. An ambitious institution, it is targeting asset size of Sh20 billion by 2021.
Tower  Sacco that has its headquarters in Ol Kalou, Nyandarua County also registered the highest growth rate in its total deposits of 31.83 per cent among its peer-group: large-tiered DT-Saccos.
The Sacco has implemented private wide area network aiming to reduce on cost and improve efficiency in service delivery across its 21branches.
The Sacco has boosted use of technology especially now that the country is facing Covid-19 pandemic to ensure members continue enjoying services anywhere and anytime.
Tower Sacco has also restructured loan products ensuring they are affordable and issued on the competitive interest rate. The Society is also offering a leeway for individuals who had earlier borrowed, and their businesses or jobs have been affected by the pandemic, making it difficult to repay, by allowing them to negotiate repayment terms.
Another factor behind Tower Sacco outstanding growth is higher returns on members’ savings. Since 2015, Tower has paid returns on members’ share capital at a rate of 20 per cent and interest on deposits at a rate above 11 per cent annually.
