The kanji and the radical are the same, so remembering the meaning of this kanji is as simple as making sure you know the radical for towel first! If you know the radical, you know this kanji means towel as well.
You know who loves towels? The King (きん) of England. He loves towels so much that he went around and put きん on every towel in the land, so you think of him whenever you use one.