Morris Plan bank

American  

noun

1. a private banking organization, formerly common in the U.S., designed primarily to grant small loans to industrial workers.

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Example Sentences

But when he was defeated for re-election in 1914, he resumed an orderly Cleveland career, as chairman of the Morris Plan Bank, ardent supporter of local opera, squire of a lakefront estate in Bratenahl, swankest of the city's 41 suburbs.

From Time Magazine Archive

In 1910 Arthur J. Morris, lawyer of Norfolk, Va., founded the first "Morris Plan" bank there.

From Time Magazine Archive

No one is in debt to Macy's but some of Macy's customers are in debt to a Morris Plan Bank with a representative right in the store.

From Time Magazine Archive

To Manhattan from Cleveland last week journeyed four members of the Cardinal's entourage—Monsignor Joseph Francis Smith, prothonotary apostolic and vicar general of the diocese; President Thomas Coughlin of the Morris Plan Bank who was chosen as gentleman-in-waiting; Henry Coakley, 18, son of a prominent Catholic family who was given the privilege of bearing the Cardinal's train; Joseph J. Mulholland, who got the job of ecclesiastical valet by writing a prize-winning essay on "The Influence and Benefit of the Congress to Catholics and non-Catholics of Cleveland."

From Time Magazine Archive

Two savings banks, one of them taking some commercial accounts, one Morris Plan bank, a commercial bank and one small state "Thrift Bank" were open under restrictions.

From Time Magazine Archive