Motivated by the need of the medical profession to find an institution that could provide them with consumable materials and medical instruments, on Monday, May 4, 1964, in the city of Valverde Mao, the National Medical Consumer Cooperative of Santiago was founded, by decree No. 1192, in view of law 127 on Cooperative Associations dated January 27, 1964, this being the first Medical Consumer Cooperative in Latin America.
In 1992, through an Extraordinary General Meeting, its services were expanded to include savings and loan programs. In 1994, it joined the Association of Rural Savings and Credit Institutions, Inc. (AIRAC), further strengthening the institution and contributing to its progress.
On June 18, 2007, at an Extraordinary Assembly of Members and by means of Decree No. 31-09 dated January 14, 2009, the name of Cooperativa Nacional de Consumo Médico de Santiago was changed to Cooperativa Médica de Santiago de Servicios Múltiples, Inc., from this point onwards establishing the commercial name of COOPMEDICA along with a new brand line, with the logo and brand identity in accordance with the new times and market demand.
In 2014, COOPMEDICA embarked on a project to expand its physical infrastructure, opening its new administrative office building and relocating its Gurabo branch. The inauguration ceremony was attended by President Danilo Medina Sánchez, who became a member of the cooperative, an honor bestowed upon him by the Board of Directors.
COOPMEDICA's growth has not stopped, expanding in the northern part of the country, where it originated, and reaching new locations in the east of the country.
Our cooperative is recognized as a financial intermediary, serving as a channel for members and associates to access activities that benefit all who use its services. We are compliant with state regulatory bodies, such as the Institute for Cooperative Development and Credit (IDECOOP), and Law 127 on the association and regulation of cooperative enterprises, enacted by the government on January 27, 1964; as well as the Dominican Republic's Financial Analysis Unit (UAF), an institution dedicated to financial analysis related to potential money laundering, predicate offenses, and the financing of terrorism.
Currently, Cooperativa Médica de Santiago de Servicios Múltiples, Inc. is open to all social classes, respecting ideas, race, language, sex, religion, and political creed, as established by the philosophy of cooperativism.