Morris Plan bank

noun

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

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

But the secret came out last week when he was indicted for having gutted the local Morris Plan Bank of $400,000 by the simple process of discounting forged notes.

From Time Magazine Archive

At the start Drugman Walpole had established his credit at the Morris Plan Bank with genuine paper.

From Time Magazine Archive