To answer you, here is information from Wikipedia.Ally Bank is a unit of GMAC Financial Services (GMAC), which became a bank holding company in December 2008.[1] GMAC's banking unit officially changed its name to Ally Bank on May 15, 2009.[2] The bank is headquartered at 6985 Union Park Center, Midvale, Utah and is FDIC insured[3], since August 2nd, 2004. They operated two offices in the domestic United States, one in Utah and one in Pennsylvania, and have 616 employees as of June 2009. They also have a Canadian operation, simply called Ally which operates atop the Resmor Trust Company, and which is CDIC insured.
Ally is an Internet bank that attempts to attract savers by offering simple, transparent products at competitive interest rates. They offer FDIC-insured savings products, including no-penalty certificates of deposit (CDs), online savings accounts and money market accounts. Ally also recently introduced an interest checking account.
[edit] History
After the resignation of GMAC Financial Services CEO Al de Molina in November 2009, GMAC chairman Franklin Hobbs said in a statement:
Al helped steer GMAC through an extraordinarily challenging period. He was instrumental in the conversion of GMAC into a bank holding company, the recruitment of talented managers into GMAC, and the establishment of Ally Bank.[4]
Many back office operations for Ally and GMAC are located in Charlotte, North Carolina. In April 2009, GMAC Financial Services announced plans to move its corporate center from Ballantyne to 106,525 square feet on four floors of 440 South Church, with possible expansion later. At the time, GMAC had 265 Charlotte employees in three business units, with plans to cut as many as 60 jobs. However, 30 new sales jobs and 236 new jobs at the corporate center meant a net increase of 200 jobs. By creating the jobs and keeping them for nine years, GMAC would receive $4.5 million in incentives from the state of North Carolina. Charlotte had many employees with banking knowledge who had been laid off from Wachovia and Bank of America, and de Molina, who spent 17 years at Bank of America, lived in Charlotte. The GMAC headquarters, however, would remain in Detroit.[5][6] GMAC started its move in late November 2009 into 440 South Church.[7] Michael Carpenter, who replaced de Molina, said of Charlotte's role in the company, "I'm not saying it's going to grow at the rate it has grown in recent times. But it's a central part of the activities of GMAC.
Ally was built around a simple premise: you should expect more from your bank. It’s their job to help you save more. So at Ally, they work to earn your business every day.
They talk straight. They don’t hide behind confusing jargon and fine print. They’ll always tell it to you straight. Because they believe it starts and ends with the customer.
They do right by you and your money. No minimum deposits or balances required. No hidden fees or penalties, either. They’re committed to finding the pain points in banking and fixing them so your money works harder every day.
They work to help you save more than other banks. They keep our overhead low, our rates competitive, and design every Ally product to maximize your savings.
