Exhibit 99.1

                                               FOR IMMEDIATE RELEASE
                                               Contact: Investor Relations
                                               Telephone: 712.732.4117


              META FINANCIAL GROUP, INC. (R) DECLARES CASH DIVIDEND

(Storm Lake, Iowa - August 28, 2006) Meta Financial Group, Inc. (NASDAQ Global
Market: CASH) announced that the Company will pay a cash dividend of $0.13 per
share for the fourth fiscal quarter of 2006. This dividend will be payable on or
about October 2, 2006 to shareholders of record as of September 15, 2006.

At June 30, 2006, Meta Financial Group had assets of $746.8 million and
shareholders' equity of $43.5 million.

The Company, and its wholly-owned subsidiaries, MetaBank, MetaBank WC, and Meta
Trust Company may from time to time make written or oral "forward-looking
statements," including statements contained in its filings with the Securities
and Exchange Commission, in its reports to shareholders, 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.

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
the following subjects: future operating results; customer growth and retention;
loan and other product demand; earnings growth and expectations; new products
and services, such as those offered by the Meta Payment Systems Division; credit
quality and adequacy of reserves; technology; and our 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 Federal Reserve Board;
inflation, interest rate, market, and monetary fluctuations; the timely
development of and acceptance of new products and services of the Company and
the perceived overall value of these products and services by users; the impact
of changes in financial services' laws and regulations; technological changes;
acquisitions; litigation; changes in consumer spending and saving habits; and
the success of the Company at managing and collecting assets of borrowers in
default and managing the risks involved in the foregoing litigation.

The foregoing list of factors is not exclusive. Additional discussion of factors
affecting the Company's business and prospects is contained in the Company's
periodic filings with the SEC. The Company does not undertake, and 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.