Monday April 4, 1938 born our cooperative. On that date met fifty-one (51) companions, who began to dream severally hand "Don Chepe" Together they provided a initial capital of five hundred pesos ($ 500.oo) and the entity it was originally founded under the name of "CREDIT UNION EMPLOYEES UNION AND MUNICIPAL WORKERS oF ENTERPRISES LIMITED" whose acronym was "COSINEM limited".

Monday April 4 statutes are adopted and the charter was made on Wednesday, July 6 legal status is obtained with resolution No. 155. This resolution was approved and signed by Dr. Alfonso Lopez Michelsen, who was minister Industries and Labor in that year.

On Saturday 16 July the charter in the second of Cali and Wednesday, August 10 notice by first-year balance sheet is logged, the cooperative began operations.
These events led to the consolidation of solidarity and cooperative dream of José María Restrepo, who supported by fifty co-workers became reality for the region creating COOTRAEMCALI.