Over the past 15 years, the experience of credit unions in francophone West Africa, Ecuador, Madagascar and the Philippines and rural banks in Ghana shows that adding group-based microfinance (village banking) to existing, locally owned financial institutions in provincial towns is a lower-cost, effective and sustainable alternative to building microfinance institutions de novo in order to extend microfinance to poorer women (many of them so poor their families are chronically hungry), especially in rural areas. The advantage of village banking (as an efficient form of group-based microfinance) may be simply that it keeps costs low enough to facilitate delivery of credit and other services to rural areas that are too costly for other methodologies to reach. The disadvantage of the strategy is that many credit unions and rural banks are relatively fragile institutions; this is compensated by the ability to spread risk across a large number of these relatively small institutions.

Dunford, C. (2002) ‘Building better lives: Sustainable integration of microfinance with education on child survival, reproductive health, and HIV/AIDS prevention for the poorest entrepreneurs’, in Daley-Harris, S. (ed) Pathways Out of Poverty: Innovations in Microfinance for the Poorest Families, Kumarian Press, Bloomfield, CT.

Dunford, C. (2006) Evidence of Microfinance's Contribution to Achieving the Millennium Development Goals, Freedom from Hunger, Davis, CA [online] www.microfiancegateway.org/content/article/detail/35795 www.microfiancegateway.org/content/article/detail/35795

Gray, B., Crookston, B., de la Cruz, N. and Ivins, N. (2007) Microfinance Against Malaria: Impact of Freedom from Hunger's Malaria Education When Delivered by Rural Banks in Ghana, Freedom from Hunger Research Paper No. 8, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-andevaluation/impact-studies/microfinance-against-malaria-impact-of-freedomfrom-hunger-s-malaria-education-when-delivered-by-rural-banks-in-ghana/ www.ffhtechnical.org/resources/research-andevaluation/impact-studies/microfinance-against-malaria-impact-of-freedomfrom-hunger-s-malaria-education-when-delivered-by-rural-banks-in-ghana/

Karlan, D. and Valdivia, M.. (2006) Teaching Entrepreneurship: Impact of Business Training on Microfinance Clients and Institutions, Yale University, New Haven, CT [online] http://karlan.yale.edu/p/TeachingEntrepreneurship.revision.final.pdf http://karlan.yale.edu/p/TeachingEntrepreneurship.revision.final.pdf

Lapenu, C., Sharma. M. and Ralison, E. (2000) ‘Assessing the relative poverty level of MFI clients - development of an operational tool: Synthesis report for the case study of OTIV-Desjardins in Madagascar’, International Food Policy Research Institute research report, International Food Policy Research Institute, Washington D.C.

MkNelly, B. and McCord, M. (2001) Credit with Education Impact Review No. 1: Women's Empowerment, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/ www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/

MkNelly, B. and McCord, M. (2002) Credit with Education Impact Review No. 2: Economic Capacity and Security, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/ www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/

MkNelly, B. and Watson, A. (2003) Credit with Education Impact Review No. 3: Children's Nutritional Status, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/ www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/

Nteziyaremye, A. and MkNelly, B. (2001) Mali Poverty Outreach Study of the Kafo Jiginew and Nyèsigiso Credit and Savings with Education Programs, Freedom from Hunger Research Paper No. 7, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/Mali%20Poverty%20Outreach%20Study/Mali%20Poverty%20Outreach%20Study%2010-01-eng.pdf/?searchterm=Nteziyaremye,%20A www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/Mali%20Poverty%20Outreach%20Study/Mali%20Poverty%20Outreach%20Study%2010-01-eng.pdf/?searchterm=Nteziyaremye,%20A

Stack, K. and Thys, D. (2000) ‘A business model for going down market: Combining village banking and credit unions’, The MicroBanking Bulletin, no 5, www.mixmbb.org/Publications/001-IND/01-IND.ANLS/01-IND.ANLS.MBB/MIX_2000_09_MBB5.pdf www.mixmbb.org/Publications/001-IND/01-IND.ANLS/01-IND.ANLS.MBB/MIX_2000_09_MBB5.pdf

Westley, G. D. (2004) A Tale of Four Village Banking Programs: Best Practices in Latin America, Sustainable Development Department, Best Practices Series, Inter-American Development Bank,Washington DC.

Dunford, C. (2002) ‘Building better lives: Sustainable integration of microfinance with education on child survival, reproductive health, and HIV/AIDS prevention for the poorest entrepreneurs’, in Daley-Harris, S. (ed) Pathways Out of Poverty: Innovations in Microfinance for the Poorest Families, Kumarian Press, Bloomfield, CT.

Dunford, C. (2006) Evidence of Microfinance's Contribution to Achieving the Millennium Development Goals, Freedom from Hunger, Davis, CA [online] www.microfiancegateway.org/content/article/detail/35795 www.microfiancegateway.org/content/article/detail/35795

Gray, B., Crookston, B., de la Cruz, N. and Ivins, N. (2007) Microfinance Against Malaria: Impact of Freedom from Hunger's Malaria Education When Delivered by Rural Banks in Ghana, Freedom from Hunger Research Paper No. 8, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-andevaluation/impact-studies/microfinance-against-malaria-impact-of-freedomfrom-hunger-s-malaria-education-when-delivered-by-rural-banks-in-ghana/ www.ffhtechnical.org/resources/research-andevaluation/impact-studies/microfinance-against-malaria-impact-of-freedomfrom-hunger-s-malaria-education-when-delivered-by-rural-banks-in-ghana/

Karlan, D. and Valdivia, M.. (2006) Teaching Entrepreneurship: Impact of Business Training on Microfinance Clients and Institutions, Yale University, New Haven, CT [online] http://karlan.yale.edu/p/TeachingEntrepreneurship.revision.final.pdf http://karlan.yale.edu/p/TeachingEntrepreneurship.revision.final.pdf

Lapenu, C., Sharma. M. and Ralison, E. (2000) ‘Assessing the relative poverty level of MFI clients - development of an operational tool: Synthesis report for the case study of OTIV-Desjardins in Madagascar’, International Food Policy Research Institute research report, International Food Policy Research Institute, Washington D.C.

MkNelly, B. and McCord, M. (2001) Credit with Education Impact Review No. 1: Women's Empowerment, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/ www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/

MkNelly, B. and McCord, M. (2002) Credit with Education Impact Review No. 2: Economic Capacity and Security, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/ www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/

MkNelly, B. and Watson, A. (2003) Credit with Education Impact Review No. 3: Children's Nutritional Status, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/ www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/

Nteziyaremye, A. and MkNelly, B. (2001) Mali Poverty Outreach Study of the Kafo Jiginew and Nyèsigiso Credit and Savings with Education Programs, Freedom from Hunger Research Paper No. 7, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/Mali%20Poverty%20Outreach%20Study/Mali%20Poverty%20Outreach%20Study%2010-01-eng.pdf/?searchterm=Nteziyaremye,%20A www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/Mali%20Poverty%20Outreach%20Study/Mali%20Poverty%20Outreach%20Study%2010-01-eng.pdf/?searchterm=Nteziyaremye,%20A

Stack, K. and Thys, D. (2000) ‘A business model for going down market: Combining village banking and credit unions’, The MicroBanking Bulletin, no 5, www.mixmbb.org/Publications/001-IND/01-IND.ANLS/01-IND.ANLS.MBB/MIX_2000_09_MBB5.pdf www.mixmbb.org/Publications/001-IND/01-IND.ANLS/01-IND.ANLS.MBB/MIX_2000_09_MBB5.pdf

Westley, G. D. (2004) A Tale of Four Village Banking Programs: Best Practices in Latin America, Sustainable Development Department, Best Practices Series, Inter-American Development Bank,Washington DC.

Dunford, C. (2002) ‘Building better lives: Sustainable integration of microfinance with education on child survival, reproductive health, and HIV/AIDS prevention for the poorest entrepreneurs’, in Daley-Harris, S. (ed) Pathways Out of Poverty: Innovations in Microfinance for the Poorest Families, Kumarian Press, Bloomfield, CT.

Dunford, C. (2006) Evidence of Microfinance's Contribution to Achieving the Millennium Development Goals, Freedom from Hunger, Davis, CA [online] www.microfiancegateway.org/content/article/detail/35795 www.microfiancegateway.org/content/article/detail/35795

Gray, B., Crookston, B., de la Cruz, N. and Ivins, N. (2007) Microfinance Against Malaria: Impact of Freedom from Hunger's Malaria Education When Delivered by Rural Banks in Ghana, Freedom from Hunger Research Paper No. 8, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-andevaluation/impact-studies/microfinance-against-malaria-impact-of-freedomfrom-hunger-s-malaria-education-when-delivered-by-rural-banks-in-ghana/ www.ffhtechnical.org/resources/research-andevaluation/impact-studies/microfinance-against-malaria-impact-of-freedomfrom-hunger-s-malaria-education-when-delivered-by-rural-banks-in-ghana/

Karlan, D. and Valdivia, M.. (2006) Teaching Entrepreneurship: Impact of Business Training on Microfinance Clients and Institutions, Yale University, New Haven, CT [online] http://karlan.yale.edu/p/TeachingEntrepreneurship.revision.final.pdf http://karlan.yale.edu/p/TeachingEntrepreneurship.revision.final.pdf

Lapenu, C., Sharma. M. and Ralison, E. (2000) ‘Assessing the relative poverty level of MFI clients - development of an operational tool: Synthesis report for the case study of OTIV-Desjardins in Madagascar’, International Food Policy Research Institute research report, International Food Policy Research Institute, Washington D.C.

MkNelly, B. and McCord, M. (2001) Credit with Education Impact Review No. 1: Women's Empowerment, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/ www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/

MkNelly, B. and McCord, M. (2002) Credit with Education Impact Review No. 2: Economic Capacity and Security, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/ www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/

MkNelly, B. and Watson, A. (2003) Credit with Education Impact Review No. 3: Children's Nutritional Status, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/ www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/

Nteziyaremye, A. and MkNelly, B. (2001) Mali Poverty Outreach Study of the Kafo Jiginew and Nyèsigiso Credit and Savings with Education Programs, Freedom from Hunger Research Paper No. 7, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/Mali%20Poverty%20Outreach%20Study/Mali%20Poverty%20Outreach%20Study%2010-01-eng.pdf/?searchterm=Nteziyaremye,%20A www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/Mali%20Poverty%20Outreach%20Study/Mali%20Poverty%20Outreach%20Study%2010-01-eng.pdf/?searchterm=Nteziyaremye,%20A

Stack, K. and Thys, D. (2000) ‘A business model for going down market: Combining village banking and credit unions’, The MicroBanking Bulletin, no 5, www.mixmbb.org/Publications/001-IND/01-IND.ANLS/01-IND.ANLS.MBB/MIX_2000_09_MBB5.pdf www.mixmbb.org/Publications/001-IND/01-IND.ANLS/01-IND.ANLS.MBB/MIX_2000_09_MBB5.pdf

Westley, G. D. (2004) A Tale of Four Village Banking Programs: Best Practices in Latin America, Sustainable Development Department, Best Practices Series, Inter-American Development Bank,Washington DC.

Dunford, C. (2002) ‘Building better lives: Sustainable integration of microfinance with education on child survival, reproductive health, and HIV/AIDS prevention for the poorest entrepreneurs’, in Daley-Harris, S. (ed) Pathways Out of Poverty: Innovations in Microfinance for the Poorest Families, Kumarian Press, Bloomfield, CT.

Dunford, C. (2006) Evidence of Microfinance's Contribution to Achieving the Millennium Development Goals, Freedom from Hunger, Davis, CA [online] www.microfiancegateway.org/content/article/detail/35795 www.microfiancegateway.org/content/article/detail/35795

Gray, B., Crookston, B., de la Cruz, N. and Ivins, N. (2007) Microfinance Against Malaria: Impact of Freedom from Hunger's Malaria Education When Delivered by Rural Banks in Ghana, Freedom from Hunger Research Paper No. 8, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-andevaluation/impact-studies/microfinance-against-malaria-impact-of-freedomfrom-hunger-s-malaria-education-when-delivered-by-rural-banks-in-ghana/ www.ffhtechnical.org/resources/research-andevaluation/impact-studies/microfinance-against-malaria-impact-of-freedomfrom-hunger-s-malaria-education-when-delivered-by-rural-banks-in-ghana/

Karlan, D. and Valdivia, M.. (2006) Teaching Entrepreneurship: Impact of Business Training on Microfinance Clients and Institutions, Yale University, New Haven, CT [online] http://karlan.yale.edu/p/TeachingEntrepreneurship.revision.final.pdf http://karlan.yale.edu/p/TeachingEntrepreneurship.revision.final.pdf

Lapenu, C., Sharma. M. and Ralison, E. (2000) ‘Assessing the relative poverty level of MFI clients - development of an operational tool: Synthesis report for the case study of OTIV-Desjardins in Madagascar’, International Food Policy Research Institute research report, International Food Policy Research Institute, Washington D.C.

MkNelly, B. and McCord, M. (2001) Credit with Education Impact Review No. 1: Women's Empowerment, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/ www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/

MkNelly, B. and McCord, M. (2002) Credit with Education Impact Review No. 2: Economic Capacity and Security, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/ www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/

MkNelly, B. and Watson, A. (2003) Credit with Education Impact Review No. 3: Children's Nutritional Status, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/ www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/

Nteziyaremye, A. and MkNelly, B. (2001) Mali Poverty Outreach Study of the Kafo Jiginew and Nyèsigiso Credit and Savings with Education Programs, Freedom from Hunger Research Paper No. 7, Freedom from Hunger, Davis, CA [online] www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/Mali%20Poverty%20Outreach%20Study/Mali%20Poverty%20Outreach%20Study%2010-01-eng.pdf/?searchterm=Nteziyaremye,%20A www.ffhtechnical.org/resources/research-and-evaluation/impact-studies/Mali%20Poverty%20Outreach%20Study/Mali%20Poverty%20Outreach%20Study%2010-01-eng.pdf/?searchterm=Nteziyaremye,%20A

Stack, K. and Thys, D. (2000) ‘A business model for going down market: Combining village banking and credit unions’, The MicroBanking Bulletin, no 5, www.mixmbb.org/Publications/001-IND/01-IND.ANLS/01-IND.ANLS.MBB/MIX_2000_09_MBB5.pdf www.mixmbb.org/Publications/001-IND/01-IND.ANLS/01-IND.ANLS.MBB/MIX_2000_09_MBB5.pdf

Westley, G. D. (2004) A Tale of Four Village Banking Programs: Best Practices in Latin America, Sustainable Development Department, Best Practices Series, Inter-American Development Bank,Washington DC.