DeCosmos Village Housing Co-operative began under the name of the United Cooperative Housing Society. The first incorporators were drawn from the business community, credit union and co-operative managerial staff and the United Church. The incorporators were aware that a co-operative enterprise is both a philosophy and a business. The philosophy, being new to Vancouver, had to be supported with a solid financial and contractual framework that would result in houses.
With these considerations in mind the incorporators worked slowly and carefully. The British Columbia Federation of Labour and the Carpenters and Joiners Local 452 were each approached for funds. They put up $5,000. each to be considered a grant if the project did not reach construction, or a non-interest bearing loan if it did. The United Church provided a $100,000. In interim development financing at 6% interest.