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Morris Plan banks born to serve small borrowers
The Morris Plan banks emerged to serve laboring class borrowers denied by usurious lenders. Originating in Norfolk in 1910, the system expanded to many cities, backed by the Industrial Finance Corporation. European experience in France, Italy, and Germany shaped the model, focusing on personal credit and preserving borrower self respect.
MENTIONED IN THIS ARTICLE
America
Morris Plan
Morris Bank
Norfolk
Arthur J. Morris
Europe
France
Italy
Germany
Morris
United States
Waterloo Bank
Atlanta
Washington, D. C
Baltimore
Colo
Columbia
Charleston
S. C
Lynchurg
Richmond
Memphis
Industrial Finance Corporation
National
Schulze Nelitzsch
Raiffeisen J
Tank of
Bank of Paris
England