2011
- Began repaying U.S. Treasury investment (U.S. Treasury sells $2.7 billion in Ally trust preferred securities).
- Maserati North America chooses Ally Financial as its official preferred financing provider for Maserati vehicles in the U.S. and Canada.
2010
- Company renamed Ally Financial.
- Established preferred financing relationships with Saab, Fiat and Thor Industries.
2009
- Entered into agreement with Chrysler to provide automotive finance service and products to Chrysler dealers and customers.
- GMAC Bank rebranded as Ally Bank.
2008
- Approved as a bank holding company under the U.S. Bank Holding Company Act.
2007
- SmartAuction reaches another milestone in its service to auto dealers, hitting $2 million in online remarketing sales.
2005
- Official launch and initial funding of a new parent holding company for its mortgage business, Residential Capital, LLC (ResCap), a global real estate finance business.
- Semperian becomes a subsidiary.
2004
- SmartAuction records 1 millionth sale, cementing its position as one of the nation's leading wholesale used-vehicle auction websites.
2001
- $1 trillion of financing for 150 million cars and trucks around the world.
- Mortgage business forms the International Business Group (IBG), expanding operations to Europe and Latin America.
2000
- Automotive finance business launches SmartAuction, an Internet-based remarketing channel.
1999
- GMAC Commercial Finance Group established.
1985
- 100 millionth vehicle financed.
- Mortgage business founded.
1977
- 75 millionth vehicle financed.
1958
- 40 millionth vehicle financed.
1939
- Motors Insurance Corporation (MIC) forms.
1920
- Automotive finance business expands to Great Britain.
1919
- Branches open in Detroit, New York, Chicago, San Francisco, and Toronto.
Our History
Ally Financial Inc. was founded in 1919 as the General Motors Acceptance Corporation (GMAC), a provider of financing to automotive customers. Since then, the business has expanded to include insurance, direct banking, mortgage operations and commercial finance. See the timeline to trace Ally's evolution.
