Investors and Consumers must read between the lines to find out the truth: META FINANCIAL GROUP,INC. drives away corporate sponsor’s customer base and that entity will eventually fail because of META FINANCIAL GROUP, INC.s way of doing business

You will only find part of META FINANCIAL GROUP, INC.’s  history below which is from META BANK’s Investors Information Page….. Oddly, META FINANCIAL GROUP, INC fails to mention any of the customer service problems they encounter and have failed to properly address if they have ever addressed the needs of their customer base.

Consumers have found META FINANCIAL GROUP, INC. to be predatory in the way they do business.

META BANK is mainly a collections agency, a rather heavy handed collections agency at that.

META BANK began as a bank for giving out sub-prime loans to what they refer to as the “Under-Banked” which means those people who are living pay check to pay check in our society. META BANK seeks out the most vulnerable and markets products to all segments of society’s vulnerabilities. If META BANK was providing a legitimate service, I would feel differently, but after I was scammed by META BANK, I went on-line and I found that this was more of a pattern that META BANK practiced to abuse their customer base.

What I find most deplorable is that META BANK now offers lessons to other banks about their practices so that the scam that META BANK created can appear to be legitimate business practices once they can get other banks to follow their deplorable role model.

META BANK is not the kind of business that helps our economy. Please do not do business with META FINANCIAL GROUP,INC. – The problem is that META BANK, META FINANCIAL GROUP, INC. has historically operated using the exact same scam over and over, but by using a new name for a product line…. You may not even know that you are using a META BANK Product because they use a partner company to promote and to push their product line for them. It appears that the partner company’s CEOs are wined and dined by META BANk so that META BANK/META FINANCIAL GROUP, INC. can gain access to their partner company’s customer base.

The way that META FINANCIAL GROUP, INC. treats their corporate partners who are pushing the META Bank Cards for them will drive away that corporate partners customer base.

If you thought you were having liquidity difficulties before partnering with META FINANCIAL GROUP,INC., you will find that initially you may make more money with their product. Then customers will begin to complain and long standing customers will no longer be able to trust any of your products. By partnering with META FINANCIAL GROUP,INC. as their corporate partner, you will only be driving your long term growth into its grave and nailing the nails on the coffin of whatever business you may have once had.

Meta Financial Group Investor Relationscontent cap

Our History

In 1954 Stanley H. Haahr founded a new bank in Storm Lake, Iowa. He joined a handful of friends who invested a total of ten thousand dollars to incorporate the Storm Lake Savings and Loan Association. On February 22, 1954, Haahr opened the doors with nothing more than a desk, a cash box and a borrowed vault

Stanley Haahr didn’t need a complex mission statement or business philosophy. Instead, he practiced one simple credo: to take good care of employees and customers and to promote thrift and homeownership.

We’ve changed a little since those early days. Customer accounts are updated with computers instead of pens and ten-keys. And that original $10,000 of capital is now approaching a billion dollars in assets!

But we have not changed in our commitment to help people by making local banking serve them well.

MetaBank History

1954

Storm Lake Savings and Loan Association was granted a charter by the State of Iowa as a state chartered savings and loan. Founded by Stanley H. Haahr and 34 depositors, the principal objective of First Federal was to promote thrift and home ownership. The original subscribed capital was $10,000.

1957

The Association was converted to a Federal Charter and changed its name to First Federal Savings and Loan Association of Storm Lake.

1970

First Federal bought the Bradford Hotel site at Fifth and Erie. The hotel was demolished and construction began on the new First Federal building. Construction was completed in time to move to our new headquarters in 1972.

1977 – 1981

First Federal maintained a mortgage banking operation. The two offices of First Services Mortgage Corporation were located in Sioux Falls and Rapid City, South Dakota.

1993

First Federal Savings and Loan Association of Storm Lake became First Federal Savings Bank of the Midwest, a subsidiary of First Midwest Financial, Inc. First Federal evolved from a mutual savings institution to a public company.

On September 20, 1993, 1.9 million shares of stock in First Midwest Financial, Inc., were issued at $10 per share and began trading on the NASDAQ stock market under the symbol “CASH.”

1994

Brookings Federal Bank, a federal savings bank in Brookings, South Dakota (a subsidiary of Community Financial Systems, Inc.) was acquired by First Federal and operates as the Brookings Federal Bank Division of First Federal Savings Bank of the Midwest.

1995

Iowa Savings Bank in Des Moines was purchased by First Federal and operates as the Iowa Savings Bank Division of First Federal Savings Bank of the Midwest.

2000

First Federal opened the doors to its first Sioux Falls office – a temporary facility – on September 6, 2000.

2001

Construction was completed for First Federal Sioux Fall’s new 12,000 square foot bank building.

2004

Meta Payment Systems®, the bank’s electronic payment systems division, is established in Sioux Falls, SD. Meta Payment Systems supports clients domestically and internationally and manages four primary business lines that contribute to MetaBank’s revenue and deposits: prepaid cards, credit products, Automated Teller Machine (ATM) sponsorship and Automated Clearing House (ACH) origination.

2005

All bank divisions under First Federal change name to MetaBank, making banking easier for customers in its four market areas: Brookings, Central Iowa, Northwest Iowa and Sioux Falls.

Meta Payment Systems is recognized as one of the premier financial institutions in the prepaid arena.

2006

Meta Payment Systems completed two patent applications for software developed to support client programs.

At year end, 500 banks representing 3,600 branch locations nationwide were selling gift cards through agreements with Meta Payment Systems. [The META PAYMENT SYSTEMS PREPAID CARDS and GIFT CARDS weren’t working at this time. Many consumers were complaining.]

2007

The company added office space for Administration and Meta Payment Systems in Sioux Falls, South Dakota and Omaha, Nebraska.

At fiscal year end, Meta Payment Systems supported clients by implementing more than 1,110 prepaid programs and issuing 35.7 million cards, up 94 percent and 49 percent from 2006 year end respectively.

Meta Payment Systems’ ATM services unit now sponsors more than 44 percent of the white-label ATMs placed nationally, up from 28 percent a year ago.  [This indicates that the scam was moving into the general public. META PAYMENT SYSTEMS was giving customers the run around. WHY? HOW? Once META PAYMENT SYSTEMS has the customer’s cash, and they are required to give META PAYMENT SYSTEM real cash money, META PAYMENT SYSTEM then has full control of the consumer’s money. The customer has no control of their own money… Gift Card??? Just send your friends and family checks… Spare them from having to deal with META PAYMENT SYSTEMS, please!!!!]

2008

Meta Payment Systems (MPS), our electronic payments division, delivered resoundingly on one of our primary initiatives by increasing revenue 76% and adding 124% to non-interest income. MPS produced these impressive advances from both existing products and from exciting new offerings, such as our innovative iAdvance loan solution. New product offerings during the last 15 months accounted for 65% of 2008 MPS non-interest income.

Meta Financial Group made genuine progress in both revenue growth and long-term value creation for our owners in fiscal 2008. And, despite profitability challenges during a year of widespread turmoil in the economy, we declared and paid $0.52 per share in cash dividends, demonstrating to shareholders our stability and resolve by extending to fourteen years our record of consecutive quarterly dividends.

Meta Financial Group has grown to more than 400 employees, a 151% increase since 2006. [ This is close to the time that META PAYMENT SYSTEMS, INC. began their scam in the sale of bogus CD’s… All of the blame for those bogus CD’s was put off onto one employee. My question has always been: Why didn’t this scam appear during an internal audit process so that META PAYMENT SYSTEMS,INC. could correct the problem??? The scam was found out by other partner banks and even then META PAYMENT SYSTEM, INC. didn’t respond in a responsible manner. The case went to court. Haahr’s son is an attorney, but it appears that he spends more time trying to figure out how to stay two steps in front of law enforcement and in hiring Rupli and Associates, who are D.C. Lobbyists to get laws in place so that META PAYMENT SYSTEMS/GROUP, INC can further their scam…. META PAYMENT GROUP,INC. is a collections agency and not a bank that provides a real customer based service. If you need a bank, go elsewhere. If you want to deal with loan sharks, partner up with META FINANCIAL GROUP,INC….. Who in their right mind, knowingly would want to do business with loan sharks, and yet in practice, over and over again, this is what META BANK, META PAYMENT SYSTEMS, META FINANCIAL GROUP is LOAN SHARKS, greedy loan sharks!!! Please be forewarned!!!]

2009

Tested like all financial institutions in a business climate marked by unprecedented change and economic upheaval throughout 2009, Meta Financial Group nevertheless made measureable progress in key areas of our enterprise. Our long heritage of disciplined fiscal management served us well during the year as we carefully managed our balance sheet and strengthened our base to take advantage of a slowly emerging economic environment. [ASK Their customer base what they thought about META FINANCIAL GROUP in 2009? This is when META FINANCIAL GROUP, INC was taken to court by other banks they had scammed. This is the year that META FINANCIAL GROUP, INC. said that Boesen had presented them with fake documents to get loans… It is a pattern of META BANK, META PAYMENT SYSTEMS, META FINANCIAL GROUP, INC. or by whatever name they may be using at any given time to push blame off onto their customers. META “whatever” has that customer’s money already so they can do whatever they want…. this is the part where META “WHATEVER” becomes the perpetrator of one of the biggest scams that this country and perhaps the world has ever seen…. Please be forewarned…. Don’t do business with META “WHATEVER Their current name may be”]

MPS grew revenues by more than 80%, continuing its strong performance despite a lower deposit earnings credit resulting from lower interest rates. We are a leading issuer of gift cards and rebate cards in the US and the world, the #1 sponsor of ATMs in the US, and are among the top issuers of prepaid cards for Visa, MasterCard, and Discover. [The rest of the economy was in a state of decline, also by giving loans to people who couldn’t really afford them, but META had found a small niche where they could make oodles of money and quickly. What META “WHATEVER” was doing was immoral, but they had worked really hard to stay inside the law as far as how court cases would be presented and it amounted to nothing more than lies and empty jargon…. When META PAYMENT SYSTEM lied to me, I knew that something was very much out of order. Why lie to a customer? Oh that is right, I had given them money to load on a prepaid card and they just held my money…. This is immoral, but they had  a pack of lies that they thought might work…. I never fell for their lies.]

MetaBank introduced a new retail product line to meet customer demand and actually create additional demand among current and potential customers. Extensive research and development allowed us to offset costs of our new market-leading checking accounts by changing consumer debit card usage while cost-effectively offering new features to address growing consumer concerns regarding identity theft and account fraud. [It was about this time, that one of META BANK’s partner banks in Israel sold 26 prepaid cards to assassins. META BANK said they didn’t know they were being given false ID’s and yet that bank said they had the best ID fraud detectors in use in the world… It sounds almost, if not, premeditated to me that 26 people could then buy prepaid cards to use for travel to commit an assassination…. There is nothing good nor wholesome about how META BANK (Whatever) does business. All that I can do is to try to warn others so that what happened to me will not happen to them.]

2010

Meta Financial Group’s financial results for fiscal 2010 showed significant gains in four key areas: revenues, earnings, deposits and assets. Timely restructuring of MPS completed in January 2010 created an estimated $5.0 million in continuing annual savings. Shareholders’ equity rose to $23.15 per share at the end of the fiscal year from $17.97 per share in the prior year. [Customer complaints were very high all over the internet at that time, but META BANK/META PAYMENT SYSTEMS/META FINANCIAL GROUP, INC. is reporting huge profits…. meanwhile during this same time period, the US and even the global economy was failing… META “Whatever” was profiting from the suffering of others, their own customers whom they were scamming. This is not a company that I would do business with knowingly. Customers will be lied to and mislead with false promises.]

2011

Net income for fiscal year 2011 was $4.6 million, or $1.49 per share, the second best in our history – a notable achievement given the harsh conditions prevailing in the banking industry and the national economy. [The general economy is failing. META BANK’s customers are complaining about META’s fraudulent practices and how META …. has abused them as customers. META BANK was making money off of the suffering of others. Many of META’s clients were from online sources so META… charged those customers to even phone META…. to ask for assistance or to correct problems the customers had encountered. META… showed a great indifference toward their customers and their customers on-going welfare…. It is operations like META FINANCIAL GROUP,INC. that has really been responsible for the economic recession; they caused it. There is nothing noble nor worthy of admiration in what META does. Consumers, please be warned!!!!! Investors, I find it difficult to believe that you will actually be treated any better that META’s customer base. META is out to make money, lots of money quickly, by changing the rules at will so they can win or gain more and more money for them, not you.]

MPS and the Retail Bank Division had the resiliency to achieve standalone profitability in 2011. The Retail Bank launched a comprehensive, long-term sales culture project which is a major component in our effort to ensure MetaBank is better positioned for continued growth and success.

James S. Haahr announced his resignation as Chairman of the Board. For more than half a century, Mr. Haahr guided each step of our growth from a small mutual savings and loan association through our IPO as a publicly-traded holding company and beyond. The Meta Financial Group board, management and employees deeply appreciate his enormous contributions in the past and his lasting influence on our future. J. Tyler Haahr was named Chairman and he remains President and Chief Executive Officer.

[ J.Tyler Haahr may be the legal brains behind these manipulations. The retirement of his father doesn’t indicate a change of practice or in policy within META BANK. META FINANCIAL GROUP, INC. has gotten away with one of the biggest scams of all times… so far, but we, as consumers, must not allow this this to continue… META “whatever their name is today” is not reputable nor are they even decent human beings. Do they get what they are doing is immoral? Perhaps. Do they care? Not while they can make as much money during a recession as they are. In fact, this report seems to indicate that META FINANCIAL GROUP, INC. is gloating about their monetary success during a period of recession. The HAAHR’s example is not one that should be copied and practiced elsewhere because in the long run they are the underlying cause for the economic recession; they get lots of money and the rest of the world suffers. META’s HAAHR FAMILY DOESN’T CARE ABOUT WHAT HAPPENS TO YOU !!!!!]

The Future

Our delivery and product development mechanisms at both MetaBank and Meta Payment Systems are continuously being sharpened to maximize future returns. [ META is always one step ahead of law enforcement. META only wants to make money for themselves. META doesn’t care about their customers or others in general.]We are truly excited that new opportunities for growth and profitability are becoming available. [Oh, my!! This means that  META is still at it as much as they have ever been at it before in the past. META spends more time trying to figure out how to scam us, as consumers, that in actually looking for ways to serve humanity and to improve the economy for everyone…. This is what is so immoral about META.]

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