Meta Financial Group, Inc.® (Nasdaq: CASH) is the holding company for the financial services company MetaBank® (“Meta”). Founded in 1954, Meta has grown to operate in several different financial sectors: community banking, national lending, payments and tax services. Meta works with high-value niche industries, strategic-growth companies and technology adopters to grow their businesses and build more profitable customer relationships. Meta tailors solutions for bank and non-bank businesses, and provides a focused partnership approach. The organization is helping to shape the evolving financial services landscape by directly investing in innovation and acquiring complementary businesses that strategically expand its suite of services. Meta has a national presence and over 1,200 employees, with corporate headquarters in Sioux Falls, S.D.
Community banking is the cornerstone of our business. Stanley Haahr founded Storm Lake Savings and Loan Association in Storm Lake, Iowa back in 1954. Today, Meta offers traditional banking services designed to serve the needs of consumers and businesses through our ten branch locations in Iowa and South Dakota.
Meta’s national lending initiatives create a national footprint in diversified channels such as business-to-business working capital solutions, commercial insurance premium financing, SBA lending, tax advance lending and other consumer finance solutions. Our national lending division provides an outlet to deploy prepaid low-cost deposits at higher yields than alternative investments while our low-cost deposit base also provides a competitive advantage to obtain high quality credit at attractive terms.
Meta is one of the founders of the prepaid industry and sponsors nearly half of all retail or non-bank ATMs in the United States. We continue to be an industry leader in the payments industry and consistently rank as one of the top prepaid issuers in the nation. In addition to our growing number of partner relationships, we tackle industry issues by providing significant compliance and regulatory guidance to governing entities.
While we officially entered the tax space in 2014, we’ve already shown ourselves to be major contenders in the industry with key acquisitions to position us for scalable growth. Meta’s tax services division offers interest-free refund advance loans, tax refund-transfer solutions and provides a new distribution channel for our existing prepaid products and other services.