2025 Impact Report
Expanding Financial Access with Purpose
Great Place to WorkTM Monitor's Bank 50 Equipment Leasing and Finance
U.S. News & World Report
2025-26
Best Companies to Work For
Finance and Midwest Insurance
U.S. News & World Report The Benevity CorporateBest Companies to Work For Goodness Awards
NewB Award Finalist
ICMI Global Contact FinTech Breakthrough Award Center Award Best Banking as a ServiceBest Medium Contact Center Solution Provider
MESSAGE FROM THE CEO
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT GOVERNANCE PERFORMANCE
Contents
03 Message from Brett Pharr, CEO 04 Fiscal Year 2025 Highlights
Message from Anthony Sharett, President
About Us
Tax Spotlight | TSG ProAdvisor 08 Tax Spotlight | One Stop Taxes
09 SBA Spotlight | Tropical Gardens Landscape
Partner Solutions Spotlight | BluePenguin
Message from Catherine McGlown, SVP, Sustainability
Financial Access Dashboard
Our Approach to Sustainability
Materiality
Environmental Responsibility
Sustainability Spotlight | BridgePeak: Headwater Energy
Sustainability Spotlight | BridgePeak: ON.energy
Pathward's Sustainability Journey
Environmental Assessment
Social Impact
Employee Engagement
23 Employee Well-being
24 Culture Connection
25 Talent Recruitment, Training, and Assessment
26 Inclusion and Belonging
Employee Resource Groups
Community Impact Program
Community Impact Spotlight | St. Francis House
Community Impact Spotlight | Furniture Bank of Atlanta
Volunteerism
Community Reinvestment Act
- Governance
Sustainability Governance
Ethics
Risk and Compliance
Data Privacy and Cybersecurity
Public Policy and Executive Compensation
- Performance
2025 Awards and Accolades
2025
Impact
2 Report
MESSAGE FROM
THE CEO
Rooted in our
purpose of powering financial inclusion,
" evolving to meet
Pathward continues
the changing and anticipated needs of consumers and businesses.
BRETT PHARR
CHIEF EXECUTIVE OFFICER
FY 2025 HIGHLIGHTS
Message from Brett Pharr, CEO
I am pleased to present Pathward's fiscal year 2025 Impact Report.
MESSAGE FROM THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT GOVERNANCE PERFORMANCE
2025
Impact
3 Report
Rooted in our purpose of powering financial inclusion, Pathward continues evolving to meet the changing and anticipated needs of consumers and businesses. Pathward uses its national bank charter and in-depth experience to bring financial services to communities, businesses and emerging markets that often go overlooked and underserved.
In the past, financial inclusion meant increasing access to financial solutions for the unbanked and underbanked. Now we are experiencing a shift and even redefining financial inclusion to include people who do not have services delivered to them in the way that they prefer - bringing preference and choice into the equation.
With a focus on accessible banking, Pathward offers products and services through a variety of payments innovators and strategic business partners. We deliver true partnerships through co-creation of solutions to enable our partners' innovations and success.
In fiscal year 2025, we supported partners like Clair, a technology company helping hourly workers through earned wage access solutions, as they expanded their reach through a new partnership with Intuit. We extended our lending partnership with Oportun, a Community Development Financial Institution, to originate more loans for underserved consumers. Additionally, we strengthened relationships
with numerous tax software firms to deliver Professional Tax Solutions to a company record of more than 42,000 tax preparers across the U.S.
We also announced a strategic partnership with BridgePeak Energy Capital to support renewable energy loan growth, which led to funding numerous projects across the country.
We are witnessing a digital transformation that is changing the financial services landscape, and it is exciting to be a key player in the ecosystem. I expect it to drive innovation and put Pathward in an even better position to support our partners' growth and further expand financial access.
Pathward offers its partners multi-threaded solutions and a risk and compliance infrastructure led by a consultative governance approach. Pathward enables its partners to
streamline their efforts to increase accessibility to the financial products people and businesses need to thrive.
I am incredibly proud of Pathward's commitment to our purpose, people, and sustainable business practices, and I'm proud of the fiscal year 2025 Impact Report showcasing this exemplary work.
Sincerely,
BRETT PHARR
CHIEF EXECUTIVE OFFICER
42K+
Tax preparer partners across the
U.S. in the previous tax season
MESSAGE FROM THE CEO
Fiscal Year 2025 Highlights
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT GOVERNANCE PERFORMANCE
Diluted Earnings per Share$7.87
$185.9M
$839.9M
Net Income Total Revenue84%
of employees surveyed said Pathward is a great place to work-
27 points higher than the average large U.S.-based company*
$1.8B
Renewable Energy Project Loan Balance
2025
Impact
4 Report
*(over 1,000 employees) According to Great Place to WorkTM
25%
of employees participated in an Employee Resource Group
$1.2M
charitable investments made to nonprofit community partners
MESSAGE FROM THE CEO
FY 2025 HIGHLIGHTS
Message from Anthony Sharett, President
" accomplished
What stands out is not just what
we accomplished, but how we
it: through our
commitment to
increasing financial access and powering financial inclusion.
ANTHONY SHARETT
PRESIDENT
As we evolved in 2025, our partnerships advanced, opening more pathways to financial access for the people, businesses, and communities we serve.
MESSAGE FROM
THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT GOVERNANCE PERFORMANCE
2025
Impact
5 Report
This past year at Pathward stands as a testament to what we achieved through thoughtful planning and strategic execution. From forging transformative partnerships to our continued investments in employees, technology, and risk management, our focus on customer centricity was driven by the hard work of our entire team.
What stands out is not just what we accomplished, but how we accomplished it: through our commitment to increasing
financial access and powering financial inclusion, supported by dedicated employees, the trust of our partners, and a culture that drives our purpose into practice every day.
In 2025, we embraced a new chapter designed to align more closely with our fintech partners regarding money movement, deposit generation, and lending. Building on our evolved operating model empowers us to better deliver integrated, multi-threaded solutions, drive outcomes and offer a stable risk and compliance infrastructure to meet our partners' needs.
Our purpose, which is rooted in expanding financial opportunity, is realized through partnerships that help us meet market needs and glean insights about how to create a more inclusive financial system. That's why in fiscal year 2025, Pathward expanded our existing partnerships with organizations that share that goal.
We believe that we continued to demonstrate our leadership position in the industry through new merchant acquiring
sponsorship agreements like those with Checkout.com, a partnership that illustrates the value, leadership and
collaboration of our organization, and all that we've poured into our infrastructure to help us scale safely and become a partner of choice.
We see the impact of our approach reflected in our partnerships and innovation, as well as the ways we serve our customers. This is especially true in our Tax Division, where our focus on people and service has led to extraordinary results. In 2025, our teams celebrated a Customer Satisfaction score topping 96%-a clear signal that our focus on listening, improving, and building lasting relationships is making a
difference. It's through these actions and more that we embody our commitment to powering people and partners through innovative solutions.
Looking ahead, I believe we will continue to turn purpose into practice by expanding financial access and unlocking opportunity for those we serve.
Sincerely,
ANTHONY SHARETT
PRESIDENT
96%
Customer Satisfaction score in the previous Tax Season
MESSAGE FROM THE CEO
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
Tax Spotlight | TSG ProAdvisor
Tax Spotlight | One Stop Taxes
SBA Spotlight | Tropical Gardens Landscape
Partner Solutions Spotlight | BluePenguin
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT GOVERNANCE PERFORMANCE
About Us
Pathward Financial, Inc. (Pathward Financial) is the U.S.-based financial holding company for Pathward, N.A. (Pathward), a national bank driven by its purpose to expand financial access and power financial inclusion.
We build banking solutions for markets that include individuals and businesses who are underserved or overlooked by traditional banking options. Through our money movement and lending offerings, our goal is to power our partners to deliver programs and solutions that promote financial access, meeting partners and consumers where they want to be met.
In fiscal year 2025, we launched an evolved operating model that positions the company for increased innovation and growth, and clients for greater success.
Business Lines
PARTNER SOLUTIONSPathward's Partner Solutions team collaborates with partners to innovate and build solutions and programs that keep growth and scale top of mind. We are guided by experience, operational excellence, a commitment to true partnership, and a stable risk and compliance infrastructure.
- Issuing: We enable partners to launch and securely scale innovative prepaid and debit products.
- Acquiring: We focus on optimizing the core banking activities to provide secure, compliant, and seamless transactions through merchant acquiring and ATM sponsorship.
- Digital Payments: We deliver secure, time-tested digital payments enabling our partners to move money quickly, efficiently, and at large scale across multiple payment rails.
- Financial Institution Solutions: We partner with financial institutions to deliver banking and lending solutions, enabling them to broaden their offerings and meet the unique needs of their communities.
- Credit Solutions: We enable our partners' lending solutions that serve the borrowing needs of customers in a diverse credit pool.
-
Professional Tax Solutions: We work with a network of over 42,000 tax preparation
offices nationwide to offer tax-related financial products, such as electronic refund advances and refund transfers.
COMMERCIAL FINANCEPathward's Commercial Finance team helps businesses access the funds they need by creating systematized, scalable, and configurable solutions that help businesses grow.
- Working Capital: We provide cash flow solutions through asset-based lending and factoring.
- Equipment Financing: We provide companies with access to equipment without sacrificing their cash flow.
- Structured Finance: We assist businesses and rural borrowers to fund growth, expansion, and refinancing.
"
We succeed when our solutions expand access and strengthen local economies. Across the bank, our employees use creativity and radical collaboration grounded in a consultative risk and compliance program to meet the unique needs of partners, customers, and communities.
GREG SIGRIST
EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
Issuing
Acquiring
Digital Payments
Professional Tax Solutions
FORWARD THINKING BANKING
Credit Solutions
Structured Financing
Financial Institution Solutions
Working Capital
Equipment Financing
2025
Impact
6 Report
MESSAGE FROM THE CEO
Empowerment Through Partnership
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
Tax Spotlight | TSG ProAdvisorTax Spotlight | One Stop Taxes
SBA Spotlight | Tropical Gardens Landscape
Partner Solutions Spotlight | BluePenguin
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT GOVERNANCE PERFORMANCE
In fiscal year 2025, Pathward deepened its commitment to advancing financial inclusion with trusted tax partners who expand access to tax products and education in their communities. These partners advance that mission through innovative products, community outreach, and tailored support, offering solutions to underserved communities and those facing barriers to access. Together, we inspire financial confidence and empower more people to navigate the tax system with clarity, and enable individuals to make informed decisions about their financial futures. These features showcase just a few of our partners leading this work and shaping meaningful change in the communities we serve.10x Tax Pro Corp dba TSG ProAdvisor
After decades in the tax industry, founder and CEO of 10x Tax Pro Corp dba TSG ProAdvisor Carlos Rosario transformed his early experiences into a thriving enterprise. Realizing the importance of financial literacy and client trust early on in his career, Carlos scaled his business from managing multiple
offices to founding TSG ProAdvisor, a service bureau designed to empower tax professionals on a large scale. Today, he and his team operate a family-owned tax practice while leading
a platform that supports more than 1,200 active users, underscoring a commitment to education and mentorship in a sector that can be difficult to break into.
The partnership between TSG ProAdvisor and Pathward is rooted in collaboration and shared values. With critical support from Pathward's Tax Division, Carlos guided his business through transitions from software migrations to revenue optimization. This collaboration enabled TSG ProAdvisor to expand services, streamline onboarding, and deliver innovative solutions like merchant processing for underserved markets.
Early in my career when I was still learning the trade as a tax professional, I realized that the client in front of me knew even less. It took decades to build the level of success we enjoy today, and if I can flatten that learning curve by equipping others with the " knowledge and resources they need to be successful - as clients or as tax professionals themselves - I'm proud to be a part of that journey. We worked with one person who was displaced by Hurricane Maria and was able to learn the U.S. [tax] system through our platform. Within three years, she was able to purchase her first home in the U.S. The relationship we've had with Pathward has been instrumental to that purpose. We know Pathward will have our back and has the infrastructure and oversight to support us. CARLOS ROSARIOCEO OF TSG PROADVISOR
Together, we've opened doors for Latino communities and Puerto Rican tax professionals, creating pathways for financial inclusion and economic opportunity.
Beyond transactional, this partnership is symbolic of mutual investment, trust and empowerment. With education at the cornerstone of TSG ProAdvisor's mission, Carlos and his team have made knowledge-sharing a way for tax professionals and clients alike to build confidence and opportunity, helping small businesses gain access to financial tools, and families achieve milestones like homeownership. By leveraging Pathward's support for events and technology, TSG ProAdvisor amplifies its impact, strengthens communities, and fosters long-term client relationships.
2025
Impact
7 Report
MESSAGE FROM THE CEO
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
Tax Spotlight | TSG ProAdvisor
Tax Spotlight | One Stop TaxesSBA Spotlight | Tropical Gardens Landscape
Partner Solutions Spotlight | BluePenguin
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
One Stop Taxes and Black Tax Fest
Husband and wife team Mowbray and Cherina Rowand launched One Stop Taxes in 2010 from their family home with a used laptop and printer. What began as a mom-and-pop operation quickly evolved into a national platform that trains and supports tax professionals across the country. Today, One Stop Taxes supports a network of more than 10,000 independently owned offices, offering tools and education that empower individuals to build sustainable businesses.
Their journey reflects a commitment to breaking barriers in an industry that often excludes newcomers, creating opportunities for financial independence and entrepreneurship.
The Rowands credit their partnership with Pathward as a catalyst for growth and stability. Pathward's Tax Division provides access to essential banking products such as refund
transfers and refund advances, helping One Stop Taxes level the playing field for small tax professionals. Pathward has proudly offered strategic partnership aligned with One Stop Taxes' vision for financial inclusion, from strengthening its compliance outfit to supporting large-scale initiatives like Black Tax Fest, an annual empowerment and networking event for tax professionals that aims to foster growth and innovation.
Through events like Black Tax Fest, the Rowands have created spaces for training, networking, and collaboration by introducing tax professionals to emerging technologies and compliance best practices. For historically underserved communities, access to knowledge and financial tools helps break cycles of exclusion. With this work, One Stop Taxes helps dismantle systemic barriers, furthering economic empowerment and representation in the tax industry.
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
"
SOCIAL IMPACT GOVERNANCE PERFORMANCE
2025
Impact
8 Report
When you're first starting out as a tax professional, it can feel like you're on an island. We started to create events where we could bring people together in one room, curating space for professionals from all over the country to train, network, and be introduced to verticals that could strengthen their offerings. We're truly proud to have created a space that has grown this way, and we're excited about the partnership we have with Pathward because it allows us to do that on an even bigger scale - reaching more people, bringing in more resources that will help people grow and take their business to the next level. CHERINA AND MOWBRAY ROWANDFOUNDERS OF ONE STOP TAXES AND BLACK TAX FEST
MESSAGE FROM THE CEO
Growth Powered by Custom Solutions
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
Tax Spotlight | TSG ProAdvisor
Tax Spotlight | One Stop Taxes
SBA Spotlight | Tropical Gardens LandscapePartner Solutions Spotlight | BluePenguin
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT GOVERNANCE PERFORMANCE
Loans backed by the U.S. Small Business Administration (SBA) help small businesses access essential funding for growth, expansion, and working capital through flexible terms and lower down payments. However, navigating the requirements can be complex, making the choice of lender critical. As an SBA Preferred Lender since 2016, Pathward streamlines the process with knowledgeable teams who guide businesses from consultation to closing, offering tailored support every step of the way. This commitment to expertise and personalized service is why businesses turn to us.Tropical Gardens Landscape
When small businesses grow, they often face challenges that require customized solutions.
In 2025, Pathward was pleased to be part of the success story of Tropical Gardens Landscape, a Sarasota, Florida-based, family-owned business that has been serving its community for more than a decade. As their client base expanded and their need for space increased, owners Ryan Empey and Adrienne Smith realized their current location could no longer support the next stage of their growth.
With their team of 40, Ryan and Adrienne fulfill a niche by providing full-service horticultural expertise. Where many comparable businesses focus on maintenance, Tropical Gardens Landscape's model encompasses comprehensive
design-build services and maintenance that run the gamut from mowing and trimming to pruning, fertilization, and specialized hardscapes. This approach integrates design, maintenance, and technical considerations like irrigation, drainage, and accessibility into their workflow. Running a holistic landscaping business comes with its own set of unique challenges - including the logistical hurdle of transporting, staging, and storing hardscape materials and plant inventory, underscoring the importance of finding a long-term property to support future growth.
"
I've been a plant nerd my whole life, so I always knew I wanted to work with plants. We realized not many companies do what we do, considering the full design-build aspect and the importance of maintenance and plant healthcare. Our dedication to comprehensive horticultural services is something that distinguishes our business and helps us contribute to our community by supporting sustainable practices and creating jobs for our neighbors. Finding a property that's zoned perfectly for our needs and knowing we wouldn't have to move again gave us true peace of mind. With Pathward's help, we secured a space that isn't just a stepping stone, but an end game and home base where we can keep growing and serving Sarasota for years to come. With that tailored support, we now have the space and capacity to ensure that our passion for horticulture can continue to enrich our community and help our neighborhoods flourish for the long term. RYAN EMPEYCEO, OWNER OF TROPICAL GARDENS LANDSCAPE
When finding the right space - and securing the financing to make it possible - proved difficult, Ryan and Adrienne turned to Pathward for next-level customer service and advanced loan products. Our team worked closely with Ryan and Adrienne
to evaluate their goals, review their existing financial structure, and map out what the business would require as it scaled.
Together, we designed a custom solution that allowed them to secure the property they needed to safely store their materials and house their operations for years to come.
Small businesses like Tropical Gardens Landscape strengthen neighborhoods, create local jobs, and highlight the importance of banking that meets customers where they are. Pathward is proud to support them through personalized solutions.
2025
Impact
9 Report
MESSAGE FROM THE CEO
FY 2025 HIGHLIGHTS
Enabling Secure, Scalable Business
BluePenguin
MESSAGE FROM THE PRESIDENT
ABOUT US
Tax Spotlight | TSG ProAdvisor
Tax Spotlight | One Stop Taxes
SBA Spotlight | Tropical Gardens Landscape
Partner Solutions Spotlight | BluePenguinMESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
At the core of our partnerships is a shared commitment to helping people and businesses succeed. The collaboration between BluePenguin and Pathward reflects this mission by supporting businesses large and small as they navigate an ever-changing digital payments landscape.
BluePenguin's Alchemy™ platform offers intuitive, customizable payment solutions that return a portion of interchange revenue to businesses, while providing
automation, centralized control, and secure digital payments. These upgrades often replace outdated or less secure systems, tailoring solutions to the distinct needs of their clients and enabling BluePenguin to help them retain more earnings
and reinvest in growth. These tools and resources enable underserved groups, many of whom are small businesses or sole proprietors, to scale and build new partnerships that might otherwise be inaccessible.
Pathward proudly supplies the banking infrastructure, as well as the custodial capabilities and funds transfer services for the platform's secure and reliable operation. Now serving aggregators and multi-vendor relationships, BluePenguin expands financial access opportunities for businesses, enhancing their onboarding, enrollment, and overall
user experience.
"Business payment flows are large and the stakes are correspondingly high," said Jake Sterling, Chief Operating Officer of BluePenguin. "For years, we've known we can count on Pathward to help us build and deliver compliant, stable and secure products that don't just meet business needs, but are delivered in a way that builds confidence and trust."
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT GOVERNANCE PERFORMANCE
2025
Impact
10 Report
As a B2B program manager, we encounter unique embedded finance scenarios everywhere. Because of that, we need a true bank partner - not just a service provider - with a robust set of solutions and a willingness to solve for things that are new or non-traditional. In a word, that's Pathward. We are proud to utilize their solutions and are thankful for the great people supporting us."
STEVE BOYERCHIEF EXECUTIVE OFFICER, BLUEPENGUIN
MESSAGE FROM THE CEO
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
Message from Catherine McGlown,
"
At the heart of
this work are our employees. Across
Pathward, our teams led with purpose,
compassion and
astuteness, bringing our values to life
through action.
CATHERINE MCGLOWN
SVP, COMMUNICATIONS,
SUSTAINABILITY AND PUBLIC POLICY
Senior Vice President, Communications, Sustainability and Public Policy
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT GOVERNANCE PERFORMANCE
2025
Impact
11 Report
In fiscal year 2025, Pathward continued to focus on what matters most: empowering our partners, our employees, and the communities we serve. Guided by our purpose and values, we continued to advance financial inclusion and expand access in ways that created meaningful, lasting positive impacts.
At the heart of this work are our employees. Across Pathward, our teams led with purpose, compassion and astuteness, bringing our values to life through action. From supporting education and workforce readiness to advancing economic empowerment, our people showed up with generosity, energy, and conviction.
That commitment was on full display during our first-ever One Hour in Action campaign. With a simple but powerful call-to dedicate just one hour of community action per week-our Community Impact team sparked a movement.
1,000+
The response was extraordinary. Through virtual and hands-on volunteering, our employees contributed and tracked more than 1,000 hours of service, strengthening the communities we call home and reinforcing the collaborative spirit that defines Pathward. Through these initiatives and others, our employees' community impact participation continued to exceed industry benchmarks, a testament to our deeply rooted culture of service.
We also deepened our impact through strategic partnerships with nonprofit organizations working directly in the communities we serve. Together, we addressed critical needs, such as houselessness, financial literacy, and employability, helping individuals and families build stronger, more sustainable financial futures.
As we look ahead, we are energized by what's possible. Whether expanding financial access, advancing sustainability, or strengthening communities, Pathward remains committed to innovation with purpose and impact that endures.
We're proud of what we've achieved and inspired by what's to come.
Sincerely,
CATHERINE MCGLOWN
SENIOR VICE PRESIDENT, COMMUNICATIONS, SUSTAINABILITY AND PUBLIC POLICY
hours volunteered during Pathward's first-ever "One Hour in Action" campaign
$3.9B
MESSAGE FROM THE CEO
Financial Access Dashboard
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT GOVERNANCE
$180K
$203.3M
invested in community development in Pathward's Community Reinvestment Act Assessment Area, including custom mortgage-backed securities and Community Capital Management in calendar year 2025$7.4M
Up from $117.9M in FY 2024
direct investments made to nonprofit community partners that work to advance financial inclusion in FY 2025 commercial loan balance as of FY 2025 end42,000+
900+
PERFORMANCE
in financed Small Business Administration loans in FY 2025 Tax Electronic Return Originators in our Network in the previous tax season hours volunteered by Pathward employees that advanced financial inclusion in FY 20252025
Impact
12 Report
MESSAGE FROM THE CEO
FY 2025 HIGHLIGHTS
Our Approach to Sustainability
Pathward's Commitment to Increasing Financial Access and Powering Financial Inclusion
MESSAGE FROM THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
Materiality
ENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT GOVERNANCE PERFORMANCE
2025
Impact
13 Report
At Pathward, our sustainability efforts begin with increasing financial access and powering financial inclusion. We aim to advance sustainable business practices that create longterm value for our stakeholders, communities, and
the environment.
Pathward is committed to fostering financial stability and mobility among groups that have historically faced barriers to accessing financial services, including but not
limited to small to mid-sized businesses, low-to-moderate income individuals, and those residing in rural or remote areas. By tailoring solutions to the unique needs of these populations, we aim to enhance their financial well-being and open opportunities for greater economic participation.
Through our approach, we strive to create pathways to financial inclusion, helping groups that have faced barriers to accessing financial services. Our sustainability initiatives are bolstered and overseen by our executive management team and our Board of Directors.
OUR SUSTAINABILITY STRATEGYOur sustainability strategy centers on envisioning a world in which:
We enable a digital and inclusive financial system for everyone.
We promote an engaged and inclusive workforce.
We invest in environmental sustainability.
We build trust with our stakeholders through responsible governance.
We perform regular assessments to verify that our priorities align with the expectations of our stakeholders, and that they are rooted in our values and purpose.
Enable an Inclusive Financial SystemEmpower customers on their journey to financial prosperity, forge community bonds, and inspire a culture of impactful giving.
Engage our WorkforceSupport an employee-first workplace by offering physical and mental well-being programs, career development opportunities, and prioritizing feedback through transparent communication channels.
Invest in Environmental SustainabilityPromote environmental stewardship by minimizing carbon emissions and contributing to community development by financing renewable energy.
Build Trust Through Good GovernanceRun our business with the highest level of ethics, compliance, and risk standards and communicate our policies and strategy clearly to our stakeholders.
REPORTINGDisclosures in this report are informed by the Sustainability Accounting Standards Board (SASB) Commercial Banks standard. The Global Reporting Initiative (GRI) and the U.N. Sustainable Development Goals (UNSDGs) also help inform the content, narrative, and data included in this report.
The reporting boundaries and scope of reporting of our sustainability disclosures include all activities that fall within Pathward's operational control unless otherwise noted.
MESSAGE FROM THE CEO
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
MaterialityENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT GOVERNANCE PERFORMANCE
2025
Impact
14 Report
Materiality
Materiality Assessment Process
Access & Affordability
Risk & Compliance
Business Ethics
PATHWARD'S MATERIAL TOPICS
Responsible Governance
Data Privacy & Cybersecurity
Public Policy
Economic Performance
In 2024, we completed our second formal materiality* assessment to sharpen our focus on topics that influence long-term value creation and to facilitate alignment of our
sustainability initiatives and reporting with the priorities of our stakeholders. This assessment was conducted with guidance from an independent third party and involved a systematic process of identifying, prioritizing, and validating our material topics. The final list of topics was subsequently reviewed and approved by our senior management team.
A critical component of the materiality assessment was meaningful engagement with key stakeholders. We conducted in-depth interviews with a diverse group of Pathward leaders and distributed surveys to employees across all levels of management. In addition, we sought feedback from external partners, customers, industry associations, and nonprofit organizations. The insights gathered from these stakeholders were analyzed in conjunction with global sustainability standards and frameworks, including those of SASB, GRI, and UNSDG.
Key Findings and Future CommitmentAmong the material topics identified, Access & Affordability emerged as foundational to our business and the most significant priority. The results of this assessment affirmed that our sustainability strategy continues to reflect the expectations and interests of our stakeholders. These findings will guide our ongoing efforts, including the incorporation of key factors into our Enterprise Risk Management process. We remain committed to best practices and plan to continue to assess our material topics every few years to facilitate ongoing relevance and alignment with stakeholder priorities.
*In this report, we use the terms "material" and "materiality" with respect to Sustainability topics and not as defined by the Securities and Exchange Commission, or by securities laws including, without limitation, as applicable to Pathward Financial, Inc. Unless otherwise noted, the boundary for the topics is enterprise-wide.
MESSAGE FROM THE CEO
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
Sustainability Spotlight | BridgePeak: Headwater Energy
Sustainability Spotlight | BridgePeak: ON.energy
Pathward's Sustainability Journey
Environmental Assessment SOCIAL IMPACT GOVERNANCE PERFORMANCE
Environmental Responsibility
Sustainability Spotlight | BridgePeak: Headwater Energy Sustainability Spotlight | BridgePeak: ON.energy Pathward's Sustainability Journey
Environmental Assessment
2025
Impact
15 Report
MESSAGE FROM THE CEO
Accelerating Sustainability Through Partnership
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
Sustainability Spotlight | BridgePeak: Headwater EnergySustainability Spotlight | BridgePeak: ON.energy
Pathward's Sustainability Journey
Environmental Assessment SOCIAL IMPACT GOVERNANCE PERFORMANCE
BridgePeak | Headwater
As artificial intelligence rapidly reshapes industries and the world races to unlock its potential, its energy demands continue to grow. As we look to harness the transformative power of this technology, we believe that it's more important than ever to enable a renewable energy infrastructure that can meet the moment.
Pathward and BridgePeak Energy Capital (BridgePeak) are supporting a new wave of renewable infrastructure development designed to power communities and industries-including the growing energy demands of AI and data infrastructure-demonstrating our shared commitment to sustainability and innovation.
In October 2025, Pathward partnered with BridgePeak to provide construction financing for Headwater Energy (Headwater)'s 112.5 Megawatts Direct Current (MWdc) Gum Swamp Solar Project (Gum Swamp Solar) in North
Carolina. The project represents a significant step toward expanding renewable generation in the Southeast, which Headwater expects to deliver enough clean power to serve 17,000 North Carolina homes annually while strengthening regional grid resilience.
Launched as part of Headwater's broader Independent Power Producer strategy, Gum Swamp Solar adds to a growing fleet of 177MWdc of operational assets and
a 2.8GWdc development pipeline across the region. The financing package-a construction loan co-led by Pathward, with BridgePeak serving as lender service
provider-is intended to accelerate project completion and provide efficient capital deployment into one of the state's most promising renewable assets.
"This financing marks an important milestone in Headwater's continued growth and expansion as a longterm owner and operator of clean energy assets," said Michael Cohen, CEO of Headwater. "BridgePeak and Pathward have been exceptional partners whose support reflects the strength of our platform and our shared commitment to building reliable, scalable clean energy infrastructure across the Southeast."
Pathward's energy lending program provided critical liquidity and structure to facilitate the transaction, while BridgePeak's market expertise and servicing expertise helped streamline execution and align stakeholder priorities. The collaboration between Pathward, BridgePeak, and Headwater exemplifies how strong partnerships can advance sustainable infrastructure at scale, and how innovation and environmental stewardship can coexist.
17K
North Carolina homes expected to receive green power annually from Gum Swamp Solar Project
2025
Impact
16 Report
MESSAGE FROM THE CEO
FY 2025 HIGHLIGHTS
Storage for Stability: Grid Resilience
BridgePeak | ON.energy
MESSAGE FROM THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
Sustainability Spotlight | BridgePeak: Headwater Energy
Sustainability Spotlight | BridgePeak: ON.energyPathward's Sustainability Journey
Environmental Assessment SOCIAL IMPACT GOVERNANCE PERFORMANCE
2025
Impact
17 Report
In January 2025, Pathward and lender service provider BridgePeak Energy Capital (BridgePeak) closed construction credit facilities with ON.energy, one of North America's fastest-growing power asset owners, to fund the development of the 160 MWh Palo de Agua portfolio across Texas. The projects expect to deliver essential battery energy storage capacity to balance intermittent renewable generation in a state where solar power generated more electricity than coal for the first time in 2024, according to the Institute for Energy Economics and Financial Analysis.
"We continue to identify and partner with best-in-class developers and Independent Power Producers in each technology and sub-market across the U.S.," said Shawn Andrews, CEO of BridgePeak. "The facility with ON.energy, and the pipeline of follow-on projects,
highlights the effectiveness of our approach to developing deep relationships with the companies changing the energy sector."
Texas' growing portfolio of renewable energy projects underscores the need for flexible, distributed storage assets capable of stabilizing the grid during peak demand and volatile pricing events. According to ON.energy, the Palo de Agua portfolio aims to provide firm capacity to absorb surplus daytime solar generation and discharge during evening peaks, mitigating strain on transmission networks and enhancing system reliability for millions
of Texans.
Financing the Energy TransitionThe multi-project construction facility with ON.energy exemplifies how private capital can accelerate renewable deployment while managing credit risk and project execution. By enabling the integration of over 160 MWh of storage capacity, this partnership demonstrates Pathward's and BridgePeak's shared commitment to building resilient infrastructure that sustains economic growth and supports the transition to a cleaner, more reliable energy mix.
160MWh+
integrated storage capacity enabled
MESSAGE FROM THE CEO
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
Sustainability Spotlight | BridgePeak: Headwater Energy
Sustainability Spotlight | BridgePeak: ON.energy
Pathward's Sustainability JourneyEnvironmental Assessment SOCIAL IMPACT GOVERNANCE PERFORMANCE
2025
Impact
18 Report
Pathward's Sustainability Journey
Pathward is dedicated to monitoring its environmental impact and implementing measures to mitigate the effects of climate-related risks. As part of our commitment to resilient communities, we are proud to partner with Disaster Relief at
Work (DRAW) to advance disaster recovery and preparedness through volunteer engagement and strategic charitable grants. DRAW, a Michigan-based nonprofit organization, provides critical support to communities across the United States by delivering timely, on-the-ground relief efforts and essential supplies in response to natural disasters.
During fiscal year 2025, our employees contributed a total of 100 volunteer hours to DRAW, assisting the organization in delivering prompt aid to people affected by natural disasters. According to DRAW, they provided support to 4,000 individuals within 72 hours after events like wildfires and hurricanes, distributing necessary materials for flood cleanup and temporary roof repairs. Notably, 90% of families assisted met the United States Department of Housing and Urban Development's low-income definition, underscoring the importance of reaching communities with the greatest need. DRAW also customized 500 heat buckets to address cold conditions in mountain communities following Hurricane Helene.
100
total volunteer hours Pathward employees contributed to DRAW in FY 2025, assisting the organization in delivering prompt aid to people affected by natural disasters
4,000
individuals supported within 72 hours after natural disasters by DRAW in FY 2025
MESSAGE FROM
Fiscal Year 2025 Environmental
234 mt CO e
THE CEO
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
Sustainability Spotlight | BridgePeak: Headwater Energy
Sustainability Spotlight | BridgePeak: ON.energy
Pathward's Sustainability Journey
Environmental Assessment SOCIAL IMPACT GOVERNANCE PERFORMANCE2025
Impact
19 Report
Assessment
In fiscal year 2025, we continued our efforts to track energy usage and greenhouse gas emission factors, continuing
to pursue real data for previous areas of estimation and expanding the data collected for Scope 3 reporting, such as emissions from remote employee activities. Scope 3 emissions are indirect greenhouse gas emissions that occur as a result
of a company's activities but arise from sources not owned or directly controlled by the organization, such as business travel, employee commuting, and supply chain operations. To further our data collection efforts, we launched a company-wide survey to help gather new data around employee commuting and home energy usage by geographic region.
Talent Anywhere
As of the end of fiscal year 2025, Pathward employees stretched across 46 states, the District of Columbia, and Canada. This continued geographic diversification is a direct result of our Talent Anywhere program and has allowed us to enrich our talent pool with external hires while reducing our physical office-space footprint by two buildings. While the majority of our workforce was remote during the fiscal year, we maintained physical presence in seven locations, one of which is both LEED (Leadership in Energy and Environmental Design) and ENERGY STAR-certified. A LEED-certified building meets strict criteria for sustainability, focusing on energy efficiency, water conservation, and healthy environments. For ENERGY STAR certification, a building must score 75 or higher on the EPA scale, performing better than 75% of similar buildings nationwide. In fiscal year 2025, we continued our commitment to the reduction of technology waste and recycled more than 5,600 pounds of business technology equipment through two vendors: Secure Enterprise Asset Management and Insight Disposition & Asset Recovery Service.
GHG Emissions (scope 1) 2
4,956,212 kWh
Total Energy Used
3,674,252 kWh
Total Electrical Power Used
1,673 mt CO e
GHG Emissions (scope 2) 2
1,558 mt CO e
GHG Emissions (scope 3) 2
5,600+ lbs
Electronic Recycling
MESSAGE FROM THE CEO
FY 2025 HIGHLIGHTS
MESSAGE FROM THE PRESIDENT
ABOUT US
MESSAGE FROM THE SVP, SUSTAINABILITY
FINANCIAL ACCESS DASHBOARD
OUR APPROACH TO SUSTAINABILITY
ENVIRONMENTAL RESPONSIBILITY
SOCIAL IMPACT
Employee Engagement Employee Well-being Culture Connection
Talent Recruitment, Training, and Assessment
Inclusion and Belonging
Employee Resource Groups Community Impact ProgramCommunity Impact Spotlight | St. Francis House
Community Impact Spotlight | Furniture Bank of Metro Atlanta
Volunteerism
Community Reinvestment Act
GOVERNANCE PERFORMANCE
2025
Impact
20 Report
Social Impact
Employee Engagement Employee Well-being Culture Connection
Talent Recruitment, Training, and Assessment Inclusion and Belonging
Employee Resource Groups Community Impact Program
Community Impact Spotlight | St. Francis House
Community Impact Spotlight | Furniture Bank of Metro Atlanta Volunteerism
Community Reinvestment Act