Meta grows agreement with Jackson Hewitt
From staff reports
One week after Meta Financial Group announced it did not renew an agreement with H&R Block for next tax season, the Sioux Falls-based financial services company has reported expanding its agreement with Jackson Hewitt Tax Service.
The new agreement will allow Meta to offer up to $750 million in interest-free refund advance loans, an increase of $300 million in available funds over last tax season.
The agreement includes underwriting, origination, servicing and loan retention, and is supported by Specialty Consumer Services, a division of MetaBank. Under the extended agreement, Meta will continue to provide these services through the 2020 tax season.
“We are delighted to build upon our existing relationship with Jackson Hewitt, one of the most respected brands in the nation and certainly in the tax-preparation industry,” said Brad Hanson, president of MetaBank and Meta Payment Systems. “Being able to help customers nationwide with additional funding certainly fits MetaBank’s vision of financial inclusion for everyone.”
Jackson Hewitt CEO Alan Ferber said he was “extremely pleased” with the partnership.
“The Refund Advance product exceeded our expectations last tax season, achieving our highest levels of participation thus far,” he said. “The additional funding and support from MetaBank allows us to further expand this and other products to help our clients meet their financial needs.”
