Ally Bank, a subsidiary of Ally Financial, is a direct bank serving customers over the Internet. Ally promotes CDs, savings accounts and other deposit products without minimum deposits, monthly fees or minimum balance. It also offers Auto Loans, retirement/IRA accounts. Ally was the 2013 recipient of the Stevie Award for innovations in customer service and Money Magazine's 2012 award for Best Online Bank.
Ally's history dates all the way back to 1919, when the General Motors Acceptance Corporation (GMAC) was founded to provide financing for new car purchases and leases. In 2009, GMAC Bank was rebranded as Ally Bank. Today, Ally is no longer associated with General Motors, although Ally Financial is still headquartered in Detroit, Michigan. Ally Bank's headquarters are in Midvale, Utah.
Ally Bank is one of the largest direct-to-consumer Internet banks with over 1 million accounts. Additionally, the company provides many auto loans every year, with over 1.5 million loans since 2011. Ally offers traditional checking & savings accounts, money market accounts, and certificates of deposit (CDs).
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