Tower Sacco Membership Eligibility & Requirements

This article focuses on Tower Sacco membership eligibility and requirements. Tower Sacco is one of the largest deposit-taking Saccos in Kenya with an asset base of 19.57 billion.

The Sacco was registered on 15th September 1976. The purpose then was to serve primary school teachers by according them an opportunity to save regularly, borrow wisely and repay their loans promptly.

Tower Sacco Membership Eligibility

The Sacco draws membership mainly from;

Government ministries.
County governments.
Teachers service commission.
Kenya defense forces.
Kenya police.
Kenya prisons.
Hospitals.
Parastatals.
Farmers.
Business community.
Private and public institutions of learning (including non-teaching staff).

Tower Sacco Membership Requirements

Filled registration form.
Copy of ID/passport.
Registration fee of Kshs 1,000 for corporate employees under check off and a minimum share capital of 10,000.
Registration fee of Kshs 500 for premium (individual employees and business persons) and minimum shares capital of 2,000.
Registration fee of Kshs 500 for corporate partnerships, diaspora members and groups, minimum share capital of 50,000, 25,000 and 2,000 respectively.
Registration fee of Kshs 300 for micro groups and a minimum share capital of Kshs 500.

Upon successful completion of membership registration, the following mandatory accounts are created;