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Meta Financial Group, Inc.® Publishes 2021 Environmental, Social and Governance Report
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Meta Financial Group (Nasdaq: CASH) released its 2021 ESG Report, emphasizing its mission to enhance financial inclusion. Key initiatives include originating $101.1 million in renewable energy financing, achieving 23% employee participation in resource groups, and receiving an Outstanding Community Reinvestment Act rating. The company also formed an ESG Committee to ensure governance and launched a Community Impact Program to foster positive community change. These efforts align with its commitment to economic mobility for underserved communities.
Positive
Originated $101.1 million in renewable energy financing.
Achieved 23% employee participation in resource groups.
Received an Outstanding rating in Community Reinvestment Act evaluation.
Established an ESG Committee on the Board for better governance.
Negative
None.
2021 report maps progress toward key ESG objectives, including efforts to achieve the Company’s long-standing mission of advancing “Financial Inclusion for AllTM”
SIOUX FALLS, S.D.--(BUSINESS WIRE)--
Meta Financial Group, Inc.® (Nasdaq: CASH) (the “Company”), the financial holding company of MetaBank®, N.A., a leading financial empowerment company, published its 2021 Environmental, Social and Governance Report. In the spirit of its purpose to power financial inclusion for all, the report highlights how the Company is aligning corporate priorities with facilitating the economic mobility of communities nationwide.
“Our purpose – to power financial inclusion for all, helping to provide financial access to underserved communities – lies at the heart of our operations and stands as our defining purpose,” said Brett Pharr, CEO of Meta Financial Group. “Our commitment to the ESG strategy that we’ve implemented aligns with that purpose, delivering on the vision of our Board of Directors and running deep through our people.”
Over the last year, Meta Financial Group advanced its ESG strategy with several initiatives. Highlights include:
Environmental: Originating $101.1 million in renewable energy financing for businesses, particularly solar.
Social: Achieving 23% employee participation in its employee resource groups. The Company also earned an Outstanding rating in its most recent Community Reinvestment Act evaluation in recognition of its commitment to helping low- and moderate-income individuals and small businesses.
Governance: Adding an ESG Committee to its Board of Directors to oversee its work and ensure strong governance in the delivery and implementation of the ESG strategy set forth in 2021.
Governance has been a key focus for Meta Financial Group. Beyond appointing an ESG Committee to its Board of Directors, the Company enhanced its emphasis on employee engagement, retooled its recruitment strategy to attract a more diverse workforce, and invested in developing talent by introducing new opportunities for personal career growth and fulfillment.
Meta Financial Group also launched its Community Impact Program, a public-minded effort toward creating lasting, positive change for the communities in which it operates. And, to create internal alignment between service lines, the Company added the position of an Ethics Officer to serve as an ambassador for its high governance standards and to ensure compliance with its Code of Business Conduct.
“We have built upon our strong foundation to make measurable and meaningful impact for our employees, customers and the communities in which we live and serve,” said Catherine McGlown, Vice President of Environmental, Social and Governance and Diversity, Equity and Inclusion. “From funding projects that reduce carbon emissions to rewarding employee engagement and volunteerism, we continue to pave a path toward achieving MetaBank’s ESG priorities.”
To download Meta Financial Group’s 2021 ESG report, click here.
About Meta Financial Group, Inc.®
Meta Financial Group, Inc.® (Nasdaq: CASH) is a U.S.-based financial holding company driven by its purpose to power financial inclusion for all™. Through our subsidiary, MetaBank®, N.A., we strive to increase financial availability, choice, and opportunity across strategic service lines including Payments, Commercial Finance, and Consumer Solutions, which is comprised of tax services and consumer lending. These solutions are seamlessly integrated to provide end-to-end support to the individuals and businesses who are powering the everyone economy. On March 29, 2022, MetaBank announced it is changing its name to Pathward™, N.A., and Meta Financial Group, Inc. is changing its name to Pathward Financial, Inc.™. Meta Financial Group, Inc. will make certain changes immediately and fully transition to Pathward Financial, Inc.™ by the end of this calendar year. Learn more at MetaFinancialGroup.com.
What is the purpose of Meta Financial Group's 2021 ESG Report?
The 2021 ESG Report highlights Meta Financial Group's commitment to financial inclusion and outlines initiatives to improve economic mobility for underserved communities.
What financial initiative did Meta Financial Group launch in 2021?
Meta Financial Group originated $101.1 million in renewable energy financing for businesses, particularly in solar energy.
How did Meta Financial Group perform in its Community Reinvestment Act evaluation?
Meta Financial Group received an Outstanding rating in its most recent Community Reinvestment Act evaluation for its efforts towards low- and moderate-income individuals and small businesses.
What governance changes did Meta Financial Group implement in 2021?
The company established an ESG Committee on its Board of Directors and appointed an Ethics Officer to ensure high governance standards.
What was the employee engagement metric reported by Meta Financial Group?
Meta Financial Group achieved a 23% participation rate in its employee resource groups.
