morris plan bank: meaning, definition, pronunciation and examples
Very Low (Historic / Specialized)Historical / Formal / Technical (Banking/Finance History)
Quick answer
What does “morris plan bank” mean?
A type of industrial bank or consumer finance company established in the early 20th century United States, which specialized in making small loans to individuals of modest means, often structured with installment repayment plans.
Audio
Pronunciation
Definition
Meaning and Definition
A type of industrial bank or consumer finance company established in the early 20th century United States, which specialized in making small loans to individuals of modest means, often structured with installment repayment plans.
A historical term for financial institutions that pioneered consumer credit and character-based lending, named after Arthur J. Morris, who founded the Morris Plan system. The term can be used historically to describe any similar institution that used the 'Morris Plan' system of industrial banking and loan associations, which emphasized thrift and creditworthiness over collateral. Today, the term is largely archaic but may appear in historical or economic texts about the development of consumer banking.
Dialectal Variation
British vs American Usage
Differences
The term is exclusively American in origin and historical context. It has no specific equivalent or common usage in British English financial history.
Connotations
In American English, it connotes early 20th-century financial innovation, Depression-era banking, and the democratization of credit for the working class.
Frequency
Extremely rare in contemporary use. Found almost exclusively in historical, economic, or banking history texts in American English. Virtually nonexistent in British English usage.
Grammar
How to Use “morris plan bank” in a Sentence
The [LOCATION] Morris Plan bank provided loans.Morris Plan banks were pioneered by Arthur J. Morris.The system was known as Morris Plan banking.Vocabulary
Collocations
Examples
Examples of “morris plan bank” in a Sentence
verb
British English
- The community sought to **Morris-Plan** their lending, but the term is not used as a verb.
American English
- The movement aimed to **Morris-plan** the local credit system, though this is a non-standard, derived usage.
adverb
British English
- The bank operated **in a Morris Plan manner**, a very awkward construction.
American English
- They lent money **according to Morris Plan principles**, a clunky but descriptive phrase.
adjective
British English
- The **Morris-Plan** model was discussed in the economic history seminar.
American English
- He studied **Morris Plan** institutions for his thesis on 1930s finance.
Usage
Meaning in Context
Business
Used in historical discussions of business and consumer finance models.
Academic
Appears in economic history papers, histories of consumer credit, and financial innovation studies.
Everyday
Virtually never used in everyday contemporary conversation.
Technical
A technical term within the niche field of banking history or the history of consumer credit.
Vocabulary
Synonyms of “morris plan bank”
Strong
Neutral
Weak
Vocabulary
Antonyms of “morris plan bank”
Watch out
Common Mistakes When Using “morris plan bank”
- Using lower case ('morris plan bank').
- Using it to refer to any modern bank's financial planning department.
- Omitting 'Plan' from the term ('Morris bank').
FAQ
Frequently Asked Questions
No, it was a specific historical type of industrial or consumer finance bank that focused on small, character-based loans. Modern banks have much broader functions.
As distinct institutions under that exact name, they are largely extinct. Some were absorbed into larger commercial banks, and their functions are now part of standard consumer banking.
It is named after the 'Morris Plan' system of banking devised by Arthur J. Morris, which involved a specific method of assessing creditworthiness and structuring loan repayments.
No, it is a highly specialized historical term. Learners are unlikely to encounter it unless studying specific areas of American economic history.
A type of industrial bank or consumer finance company established in the early 20th century United States, which specialized in making small loans to individuals of modest means, often structured with installment repayment plans.
Morris plan bank is usually historical / formal / technical (banking/finance history) in register.
Morris plan bank: in British English it is pronounced /ˈmɒrɪs plæn bæŋk/, and in American English it is pronounced /ˈmɔːrɪs plæn bæŋk/. Tap the audio buttons above to hear it.
Phrases
Idioms & Phrases
- “None”
Learning
Memory Aids
Mnemonic
Imagine a man named Morris with a PLAN to help people BANK their trust and get small loans.
Conceptual Metaphor
BANK AS A COMMUNITY TOOL (historical view) vs. BANK AS A PROFIT-CENTER (modern view).
Practice
Quiz
What was the primary function of a Morris Plan bank?