The Holy Spirit Community Multi-Purpose Cooperative (HOSCOMCO) was founded through the initiative of Rev. Fr. Oscar Florencio of Holy Spirit Parish to promote unity and improve livelihoods in the community. Fifteen representatives formed the first leadership group, and operations began with a ₱10 membership fee and ₱10 savings contribution.

HOSCOMCO was officially registered with the Cooperative Development Authority (CDA) on December 10, 1993. Operations Paused for three years due ti limited management experience but resumed in 1996 with support from Novaliches Development Cooperative (NOVADECI).

With ₱15,000 remaining capital, the cooperative restarted as a savings and credit cooperative and held its first General Assembly in 1997, marking the beginning of its steady growth and continued service to the community.