Tower Sacco is a deposit-taking financial institution regulated by Sacco Societies Regulatory Authority, SASRA.
The institution has been in existence since 1976 when it was started mainly to serve teachers in the larger Nyandarua but later opened the common bond to allow people of all walks of life to become members.
Today, the Sacco boasts of more than 170,000 members comprising government employees, county employees, the armed forces, business people, farmers, and others from all sectors of the economy.
The main business of the Sacco is mobilizing savings from members and lending loans. The Sacco currently boasts of an asset base of over Kes. 16B making it one of the most stable and strongest Saccos in Kenya.
With such a financial strength, Tower Sacco is a Sacco of choice where members can invest their money and watch it grow over time, thereby creating wealth for them.
Tower Sacco list of millionaires increased to over 1300 in 2022 with the highest saver having over Ksh151 million in their account according to a list published in its latest annual newsletter.
https://towersacco.co.ke/magazines-agm-tenders/
There are various avenues through which one can invest in Tower Sacco. They include:
1. Share deposit contribution: Through regular contributions in share deposits, one can qualify for any amount of loan to acquire assets such as land, commercial houses, motor vehicles, school fees payments, and other needs. These deposits also earn rebates at very competitive rates.
2. Share capital contribution: Once in a while, the Sacco floats share capital where members are encouraged to buy. These shares earn and are paid dividends at the end of each financial year at very competitive rates. In the financial year ended on 31st December 2021, the Sacco paid a dividend at a rate of 20%, which was one of the best rates in the industry.
3. Fixing your money in the fixed deposit account: If you have some cash not being used in the short term, you can deposit it in a fixed deposit account and earn interest for the fixed period. One can deposit the money in a fixed account for three, six, nine, or twelve months. The interest paid towards the fixed deposit depends on two factors;
a) The length of time fixed, and
b) The amount fixed.
The longer the period, the higher the interest earned, and the higher the amount fixed, the higher the interest earned.
Tower Sacco is an equal opportunity investment vehicle that one can use to invest his money and watch it grow over time, which results in the creation of wealth. I take this early opportunity to invite you all to invest with us, and you will never regret it.
By George Kamau, Tower Sacco Board Director.
