The university was founded in Reykjavík in 1918 as a secondary school called the Cooperative College (Samvinnuskólinn). The school was run by the Icelandic cooperative movement (Samband íslenskra samvinnufélaga) and was originally intended as a training college for the staff of cooperative stores and other members of the movement.
A university in Reykjavík was founded in 1918 under the name Cooperative College (Samvinnuskólinn). Initially, it served as a training ground for staff at cooperative stores and other affiliates of the Icelandic cooperative association.