MetaBank partners with health care financing company

April 3, 2018

Sioux Falls-based MetaBank has signed a three-year agreement with Health Credit Services, a patient financing company.

MetaBank will approve and originate loans for elective procedures for HCS provider offices nationwide, a relationship the bank expects will involve the creation of at least several hundred million dollars in personal loans.

HCS will work with its provider partners to market the loans, as well as provide servicing for them.

“Health Credit Services is a creative, solutions-driven partner for thousands of medical patients throughout the country, and we couldn’t be more excited to work with them to deliver a seamless experience to those patients,” said Brent Turner, MetaBank executive vice president and head of consumer lending.

“We look forward to leveraging our origination and underwriting platform to help them grow, differentiate themselves in the health care financing industry and continue to serve these patients.”

The relationship is part of the bank’s continued investment in consumer lending following the 2016 acquisition of Specialty Consumer Services. With the new division, MetaBank acquired a platform that provides a total solution for marketplace lending, including underwriting and loan management. Since then, the bank has invested in additional personnel and technology enhancements to enrich its market offerings.

“In our rapidly evolving health care environment, modern consumers carry a financial burden of more than $486 billion in out-of-pocket costs,” said Hans Zandhuis, CEO of HCS. “MetaBank provides a platform that supports our unique product growth plans. Our partnership is expected to increase access to quality-of-life medical procedure financing, giving patients the opportunity to easily and responsibly manage their health care expenses.”

MetaBank partners with health care financing company

Sioux Falls-based MetaBank has signed a three-year agreement with Health Credit Services, a patient financing company.

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