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Posted on Jun 14, 2017
J. Tyler Haahr, chairman and chief executive officer of Meta Financial Group and MetaBank, addressed the Rotary Club of Downtown Sioux Falls Monday, June 12.

MetaBank is a federally chartered savings bank with headquarters in Sioux Falls.  Meta Financial Group, Inc., is the holding company of MetaBank and its divisions, including Meta Payment Systems. 

Meta differs from traditional banks due to the unique products and channels we’ve developed,” Haahr said.  “We are constantly looking for ways to implement our vision of financial inclusion for everyone through the products and services we offer.”
Haahr calls Meta Financial Group “a great homegrown success story.” The company was founded in 1954 as Storm Lake Savings and Loan.  It has evolved into a national financial technology company with assets exceeding $4 billion. 

Haahr earned a bachelor’s degree in accounting from the University of South Dakota and graduated with honors from the Georgetown University Law Center in Washington, D.C.  Prior to joining Meta, Haahr was a partner with the Phoenix law firm Lewis and Roca. Haahr serves on the board of LifeScape and the Sioux Falls YMCA, where he is a past board chair. 
 
Program Highlights:
  • Meta Financial Group, Inc., the holding company of MetaBank, is a homegrown success story, founded in 1954 as Storm Lake Savings and Loan.  It has evolved into a national “fintech” or financial technology company with assets exceeding $4 billion.
  • The goal is to deliver innovative financial service solutions that change the way people use, borrow and manage money.
  • MetaBank has created a financial ecosystem through the development of products and services including banking (retail bank and specialty finance) and payments (prepaid and tax services).
  •  The tax services division offers interest-free refund advance loans, tax refund-transfer solutions and provides a new distribution channel for prepaid products and other services.
  • The specialty finance division provides an additional outlet to deploy prepaid low-cost deposits.
  • MetaBank grew from $60 million five years ago to over $850 million today.  It has a five-year average asset growth of 25%.
  • Net income for the first half of fiscal year 2017 has outperformed all of fiscal year 2016 and has almost doubled fiscal year 2015.
Next Week’s Program:
Dr. Kenneth A. Snell- Coronor/Medical Examiner/Forensic Pathology