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SOURCE Meta Financial Group
SIOUX FALLS, S.D., Sept. 2, 2014 /PRNewswire/ -- MetaBank's payment solutions division Meta Payment Systems recently signed an agreement to partner with Card Limited, a company based out of Utah that provides financial products and services for unbanked and underbanked consumers. MetaBank will be the issuer of Card Limited's general purpose reloadable (GPR) cards, which are distributed through the company's online and affiliate channels.
Card Limited President Christopher Scanlon hopes that the partnership with MetaBank will continue his company's goals of driving ongoing value to its consumers and clients alike. "The work that MetaBank does is work that we can get behind," he said. "We're two companies with similar visions and goals, so it's a fitting match."
MetaBank has a history of utilizing Card Limited's services in the past, so expanding the issuing relationship is a welcome addition, according to MetaBank President Brad Hanson. "We've enjoyed a great working relationship with Card Limited and we look forward to taking that partnership to the next level," he said. "Our values and our desire to provide financial inclusion for everyone align very well in the work we plan to continue to do together."
About Card Limited
Card Limited (CLC) offers services to a network of consumers that use prepaid debit cards and do not have, do not wish to have or are unable to open a traditional bank account or use traditional financial services. In the United States, there are 60 million unbanked and underbanked consumers who are currently not being fully served by the traditional banking system. CLC seeks to provide an innovative alternative for these users and create an interactive network of consumers.
MetaBank, through its Meta Payment Systems® (MPS) division, delivers innovative financial products that change the way people use, borrow and manage money. Based in Sioux Falls, South Dakota, MPS is a recognized leader in the prepaid card industry and provides innovative payment solutions delivered nationally in collaboration with market-leading partners. MPS focuses on offering specific product solutions in the following areas: prepaid cards, credit products, ACH origination and ATM sponsorship. Meta Financial Group, Inc.® (NASDAQ Global Market®: CASH), is the holding company for federally chartered savings bank MetaBank, Member FDIC. For more information, visit www.metapay.com.
This press release and other important information about the Company are available at www.metafinancialgroup.com.
Meta Financial Group, Inc.®, ("Meta Financial" or "the Company" or "us") and its wholly-owned subsidiary, MetaBank® (the "Bank" or "MetaBank"), may from time to time make written or oral "forward-looking statements," including this earnings release, statements contained in its filings with the Securities and Exchange Commission ("SEC"), in its reports to stockholders, and in other communications by the Company, which are made in good faith by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.
You can identify forward-looking statements by words such as "may," "hope," "will," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential," "continue," "could," "future" or the negative of those terms or other words of similar meaning. You should read statements that contain these words carefully because they discuss our future expectations or state other "forward-looking" information. These forward-looking statements include statements with respect to the Company's beliefs, expectations, estimates, and intentions that are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond the Company's control. Such statements address, among others, the following subjects: future operating results; customer retention; loan and other product demand; important components of the Company's balance sheet and income statements; growth and expansion; new products and services, such as those offered by MetaBank® (the "Bank") or Meta Payment Systems® ("MPS"), a division of the Bank; credit quality and adequacy of reserves; technology; and the Company's employees. The following factors, among others, could cause the Company's financial performance to differ materially from the expectations, estimates, and intentions expressed in such forward looking statements: the strength of the United States economy in general and the strength of the local economies in which the Company conducts operations; the effects of, and changes in, trade, monetary, and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System (the "Federal Reserve"), as well as efforts of the United States Treasury in conjunction with bank regulatory agencies to stimulate the economy and protect the financial system; inflation, interest rate, market, and monetary fluctuations; the timely development of and acceptance of new products and services offered by the Company as well as risks (including reputational and litigation) attendant thereto and the perceived overall value of these products and services by users; the risks of dealing with or utilizing third parties; the scope of restrictions and compliance requirements imposed by the Consent Order entered into by the Company with the Federal Reserve; the impact of changes in financial services' laws and regulations, including but not limited to our relationship with our regulators, the OCC and the Federal Reserve; technological changes, including but not limited to the protection of electronic files or databases; acquisitions; litigation risk in general, including but not limited to those risks involving the MPS division; the growth of the Company's business as well as expenses related thereto; changes in consumer spending and saving habits; and the success of the Company at managing and collecting assets of borrowers in default.
The foregoing list of factors is not exclusive. Additional discussions of factors affecting the Company's business and prospects are contained in the Company's periodic filings with the SEC. The Company expressly disclaims any intent or obligation to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company or its subsidiaries.
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