Ally Bank was established in August 2004 and it is a unit of Ally Financial, Inc., headquartered in Detroit, Michigan. Ally Bank is headquartered in Midvale, Utah, and it is FDIC insured since its establishment. The bank operates two domestic branches in the U.S., one located in Pennsylvania and the other in Utah. As of December 31, 2011, Ally Bank has more than 1,000 employees operating in its two domestic branches. Moreover, some back office operations of Ally Financial and Ally Bank are also located in Charlotte, North Carolina.
The corporation also has a Canadian operation simply called Ally that operates under the Resmor Trust Company, and it is Canadian Deposit Insurance Corporation insured. On the other hand, All Financial, Inc. is majority-owned by the U.S. government. In 1919, Ally Financial was founded as the General Motors Acceptance Corporation (GMAC), which was a auto finance provider. Today, the corporation is one of the world’s leading automotive financial services companies. Being the preferred source of financing for Saab, General Motors, Suzuki, Fiat, Chrysler, and Thor Industries vehicles, Ally Financial provides a complete range of auto financing products and services in major markets around the globe.
Major Ally Bank Products are services include mortgage operations, commercial finance, online retail banking products, insurance options, online savings accounts, interest checking accounts, certificates of deposits (CDs), and money market accounts. The bank also offers a number of convenient online banking services and automotive financing products such as auto financing, auto leasing, and GM vehicle service contracts. The bank offers award-winning savings account with no minimum balance and monthly maintenance fees. When a customer chooses to bank with Ally, he or she will bank online, by phone, chat, or by atm. It is one of the most successful online banks that offer branch-free banking to its customers.
|Bank Name||Ally Bank|
|Year of Establishment||August 2, 2004|
|FDIC Insured Since||August 2, 2004|
|FDIC Certificate No||57803|
|Number of Branches||1 domestic branches|
|Number of ATMs|
|Number of Employees||959|
|Number of States Served||1 State|
|Services Offered (Available Accounts)||Mortgage lending, Interest checking, CDs, Money Market, Online Savings, Retirement accounts, Auto Financing, Home financing/refinancing, Commercial Finance, Dealer Insurance.|
|Mobile and Online Banking||Bill Pay, Online Transfers, Account Alerts, Online Chats, Auto Online Services.|
|Assets (Dec 31, 2015)||111,306,727|
|Liabilities (Dec 31, 2015)||94,811,121|
|Equity Capital (Dec 31, 2015)||16,495,606|
|Net Income (Dec 31, 2015)||238,986|
|Primary Federal Regulator||Federal Deposit Insurance Corporation (FDIC)|
|Consumer Assistance||https://www2.fdic.gov/ starsmail/index.asp.|
|Address||6985 Union Park Center Suite 435, Midvale, Utah 84047, County of Salt Lake.|
(Courtesy: FDIC as on Dec 31, 2015)