SIOUX FALLS, S.D., May 26, 2021 (GLOBE NEWSWIRE) — Meta Financial Group, Inc.® (Nasdaq: CASH) (“Meta”), the financial holding company of MetaBank®, N.A., a leading financial enablement company, today announced the release of its inaugural 2020 Environmental, Social and Governance (“ESG”) Report, highlighting the Company’s progress in fulfilling its commitment to high governance standards, customers, employees, the community and the environment.
In 2020, Meta Financial Group built its ESG infrastructure through endeavors that supported the Company’s mission. These foundational programs, policies and strategies established baseline standards to assure Meta’s continued momentum and progress.
“ESG is a core tenet of Meta’s mission of financial inclusion for all. We have been a mission-driven company since our founding, one that strives to create value for our society and produce an economic benefit for people,” said Brad Hanson, President and CEO of Meta Financial Group. “2020 spoke to the interconnectedness of our mission, culture, ESG efforts and what we do as a company. We look forward to building on our commitment to community engagement and high governance standards as we carry our ESG strategy forward.”
The 2020 report highlights activities across five key pillars: governance, customers, employees, community, and environment. Internal results include MetaBank’s actions on diversity and inclusion through recruitment, employee training and development, and health and safety benefits for all Meta staff. External metrics include Meta’s sustainability performance in its business in alternative energy financing, as well as its impact on the community through reinvestment, corporate giving and employee volunteerism.
“The programs and policies we implemented in 2020 demonstrate our values and ongoing support of customers, employees and the communities we serve,” said Catherine McGlown, VP of ESG and Community Impact. “We have established criteria to measure our progress and facilitate alignment of our corporate vision and ESG priorities, which will have a positive impact on our customers and employees.”
Highlights of MetaBank’s activities detailed in its 2020 ESG report include:
- Acted as the financial agent for distributing prepaid debit cards used in the first round of the Economic Impact Payments (“EIP”) program for COVID-19 relief in the U.S. under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), distributing $6.42 billion in financial relief through 3.6 million prepaid cards. Meta served in the same capacity for the second and third rounds of the EIP program in 2021.
- Distributed $219 million in funds as a funder in the Paycheck Protection Program (“PPP”), supporting 689 small businesses and preserving more than 20,000 jobs.
- Continued its long-time support of Operation HOPE, Inc., a non-profit organization providing financial literacy empowerment and economic education to youth and adults.
- Accelerated work on its diversity and inclusion strategy, prioritizing D&I with employees, customers and vendors.
- Began development of a Community Impact Program, to be introduced in 2021, to elevate the effectiveness and scope of corporate giving programs, employee volunteer programs and other external engagement.
The full 2020 ESG report can be found and downloaded at https://www.metafinancialgroup.com/environmental-social-governance.
About Meta Financial Group, Inc.®
Meta Financial Group, Inc.® (Nasdaq: CASH) is a South Dakota-based financial holding company. Meta Financial Group’s subsidiary, MetaBank® N.A., is a financial enablement company that works to increase financial availability, choice, and opportunity for all. MetaBank strives to remove barriers that traditional institutions put in the way of financial access, and promote economic mobility by providing responsible, secure, high quality financial products that contribute to individuals and communities at the core of the real economy. Additional information can be found by visiting www.metafinancialgroup.com.
Investor Relations Contact
Brittany Kelley Elsasser
Media Relations Contact