MetaBank® and H&R Block® Announce Program to Offer Interest-Free Tax Refund Advances
October 26 2016 - 8:30AM
Meta Financial Group, Inc.’s (NASDAQ:CASH) bank subsidiary,
MetaBank®, has entered into an agreement with certain H&R Block
entities to originate up to $1.45 billion and retain up to $750
million of interest-free Refund Advance loans for H&R Block®
tax preparation customers during the 2017 tax season. H&R Block
has approximately 10,000 company-owned and franchise retail
locations in the U.S. This program builds on MetaBank’s growing
presence in the tax payments industry.
“We are delighted to team with H&R Block, a respected brand
and trusted household name in the tax preparation business,” said
Brad Hanson, President of MetaBank and Meta Payment Systems.
“Importantly, we are working with Specialty Consumer Services, LP,
proven leaders in underwriting and risk management of tax related
financial products, and BofI Federal Bank who has agreed to
purchase consumer-friendly Refund Advance loans originated by
MetaBank to H&R Block’s loyal customer base.”
“H&R Block looks forward to working with MetaBank to offer
this consumer friendly product,” said Greg Macfarlane, Senior Vice
President, U.S. Retail Products and Operations, H&R Block. “We
want to ensure delivery of exceptional value to our customers, and
interest-free Refund Advances are a great addition to our already
competitive suite of products.”
About Meta Financial Group® Meta Financial
Group, Inc. (MFG) is the holding company for MetaBank®, a federally
chartered savings bank. MFG shares are traded on the NASDAQ Global
Select Market® under the symbol CASH. Headquartered in Sioux Falls,
SD, MetaBank operates in both the Banking and Payments industries
through: MetaBank, its traditional retail banking operation; Meta
Payment Systems, its electronic payments division; AFS/IBEX, its
insurance premium financing division; and Refund Advantage, its
tax-related financial solutions division.
About H&R Block®H&R Block, Inc.
(NYSE:HRB) is a global consumer tax services provider. Tax return
preparation services are provided by professional tax preparers in
approximately 12,000 company-owned and franchise retail tax offices
worldwide, and through H&R Block tax software products for the
DIY consumer. H&R Block also offers adjacent Tax Plus products
and services. In fiscal 2016, H&R Block had annual revenues of
over $3 billion with 23.2 million tax returns prepared worldwide.
For more information, visit the H&R Block Newsroom at
http://newsroom.hrblock.com/.
Media Contact:
Katie LeBrun
Corporate Communications Director
605.362.5140
klebrun@metabank.com
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