Davivienda’s Little Red House (Casita Roja) was inspired by the fairy tale "Hansel and Grettel", in which there was a friendly little house in the woods where everyone was welcomed. In 1972, a comprehensive advertising strategy was made with the little house and the phrase that still today is of highest recall: "Davivienda, donde está el ahorrador feliz". (Davivienda, where happy savers are”)
In May 1972, under the Presidency of Mr. Misael Pastrana Borrero, Decrees 678 and 679 were issued, whereby the Colombian constant value system was created. Through this system, savers in addition to preserving the value of their money over time -despite the rising cost of living- could achieve yield or interest, which allowed financial institutions to grant long-term housing loans. To manage this system, an account unit was created, called Constant Purchasing Power Unit (Poder Adquisitivo Constante - UPAC-), name that summarizes the philosophy of the system. With this legal basis, an analysis was implemented to create a Savings and Housing Institution (Corporación de Ahorro y Vivienda). The work team was integrated with the participation of Banco de Bogotá, Seguros Bolívar and Colseguros.
In August 1972, the entity was created under the name "Corporación Colombiana de Ahorro y Vivienda" organized under the laws of the Republic of Colombia. However, on January 30, 1973, the entity changed its name to "Corporación Colombiana de Ahorro y Vivienda – DAVIVIENDA". The Organic Record of DAVIVIENDA was approved by the Banking Superintendence on October 4, 1972, by Resolution 2798. With its Head office at Carrera 10 No. 14 – 47, Banco de Bogotá building and concurrently at the offices of Banco de Bogotá of 7 de Agosto, Chapinero and Restrepo; in the city of Medellin at the office of Parque Berrio; in the city of Cali at the office of Plaza Caicedo and in Barranquilla at Carrera 14, with authorized capital of COP 60 million to begin operations, 23 officers and the “Red Little House” (Casita Roja) symbol, DAVIVIENDA began its primary activities related to the intermediation of financial services, aimed at saving individuals and families”