Coady, like Raiffeisen, Hermann Schulze-Delitzsch and Alphonse Desjardins was part of a global movement in co-operative microfinance. Due to the poor performance of many community-based credit unions in the developing world, this movement lost its momentum in the 1970s, to be replaced by the more centralized approach characteristic of the microcredit movement. However, the main successes in microcredit have been confined to urban or very densely populated rural areas. In recent years there has been a revival of interest in village-based and participatory approaches, such as the SHG movement in India and the ASCA movement in Africa to address the problem of financial services for poor rural farmers.