Non-traditional bank that makes loans to the poor and otherwise disadvantaged sections of society often spurned by the mainstream banks. Founded in 1910 at Norfolk, Va. by Arthur J. Morris, an enterprising attorney in his late 20's, as Fidelity Savings & Trust Co. with $20,000 in capital. While this bank follows the prudent lending criteria, it extends credit not only on the basis of the financial strength of the potential borrowers but also takes into account their good character and standing in their respective communities. There are now over 100 Morris plan banks all over the U. S., with an average loss on loans at less than 0.1 percent.

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