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Our History

An ally through the years.

Black and white photo of men and women wearing 1920s fashion working on old time print ads, with modern Ally logos superimposed onto the ads

How it all began

From our beginnings in auto finance to our expansion into online banking, credit and lending and wealth management, our commitment to customers has been our focus for more than a century.

1920s – 1930s | Starting our engines

Helping auto dealers be successful

The invention of the assembly line changed the way the auto industry did business. To keep factories running smoothly, manufacturers needed auto dealers to buy vehicles in large quantities. In 1919, we opened our doors as GMAC, a division of GM, to help dealers finance and maintain their inventory and keep up with consumer demand.

Making auto financing more accessible

In the early 1920s, people looking to buy a car or truck had to pay cash or secure their own financing from banks that didn’t typically issue loans for automobiles. We made it convenient for customers to get financing right at the dealership. During the Great Depression, car manufactures began segmenting vehicles by cost, from low-price to luxury models. We introduced this pricing concept to the public with our slogan "A car for every purse and purpose."


Opened our doors in New York City and later that year added offices in Detroit, Chicago, San Francisco and Toronto


Financed our 4 millionth vehicle


Formed Motors Insurance Corporation (MIC)

Black and white 1910 photo of the exterior of the Detroit Car Factory, with one black 1910 automobile in front

Detroit Car Factory - 1910s

1940s – 1950s | Financing beyond cars


Financed locomotives during WWII


Financed household appliances through participating retailers


Introduced the Time Payment Plan

Black and white 1939 photo of the Honolulu Clipper airplane behind three black automobiles

Honolulu Clipper - 1939

Meeting the needs of the time

During World War II, we helped support the war effort as the financing arm of GM, which supplied the Allies with submarine engines, airplanes, trucks and tanks. Back home, we helped financially troubled railroads stay in business by renting and financing locomotives. In the 1950s, we diversified and worked with participating household appliance retailers and extended financing to customers who couldn't afford to buy a refrigerator, washer or stove outright.

Providing convenience and more options

Americans' love for cars was on the rise during the golden years of automobile design. With our slogan, ''Enjoy financing where you buy,'' more people took advantage of getting the car they wanted and the financing they needed at the same place. In 1956 we introduced "Buying cars on time" with our Time Payment Plan and gave over 2 million customers more options to finance a vehicle with a payment plan that fit their budget.

1960s – 1970s | Ensuring peace of mind

Protecting vehicles inside and out

As car manufacturers pushed innovation and style, auto prices rose and insurance became an increasingly important part of our products and services offering. Our Motors Insurance Corporation provided dealers with physical damage coverage to protect the vehicles they sold, and in the mid 1960s we became the first insurance company to offer comprehensive coverage to dealers' customers. In 1973, we introduced mechanical coverage for new vehicles and for certain used vehicles.


Offered comprehensive coverage for vehicles


Introduced mechanical coverage


Financed our 75 millionth vehicle

Black and white 1967 print ad photo of four white males wearing 60s fashion standing around an automobile, with the one by the driver’s side proudly holding up keys

Print Ad - 1967

1980s – 1990s | Exploring new roads

1980 - 1990

Initial launch of loans to home buyers


Financed our 100 millionth vehicle

Offered loans to home buyers


Formed our Corporate finance division

Black and white 1989 print ad photo of a white male and female wearing tennis gear and holding tennis rackets as they walk from their white convertible car to their house

Print Ad - 1989

Expanding our financing capabilities

In the 1980s we leased the auto industry’s first electric-powered cars. We also made our initial offering of mortgage products, helping thousands of Americans become homeowners. In the late 1990s, we purchased The Bank of New York's lending unit. This led to the creation of our Corporate Finance division that soon became one of the most trusted sources of capital for equity sponsors and middle-market companies.

2000s – 2010s | Beginning a transformation

Examining our strengths

During one of the most significant economic downturns our country experienced, we were tested like many other financial services companies. For us, it was an opportunity to review our business model, define our competitive advantages and build on our strengths.

Building a better bank

The world didn't need another bank — it needed a better one. We decided to make a stand on our commitment to customers and put our promise in our name. So we transformed our banking subsidiary into Ally Bank on 3 simple principles: do right, talk straight and be obviously better. As an online bank without physical branch locations, we were able to offer greater value with consistently competitive rates and convenient around-the-clock support when our customers needed it.


Established GMAC Bank

Launched SmartAuction, our unique online remarketing tool for dealers


Reached $1 trillion in financing for 150 million vehicles


Transformed GMAC Bank into Ally Bank

Black and white 2014 print ad photo of a large Ally lowercase A against a solid background, with the slogan ‘we speak human’ written inside the opening of the A

Print Ad - 2014


Renamed our company Ally Financial


Exceeded 1 million Ally Bank customer accounts


Granted financial holding company status


Completed our IPO

Black and white 2014 photo of a crowded stock exchange floor, with Ally logos appearing on overhead monitors

Ally IPO - 2014

Redefining our company

In 2010, we rebranded as Ally Financial and transformed our auto finance business into Ally Auto — a premier independent finance provider offering dealers of many vehicle makes, including RVs, the most comprehensive suite of products and services available. With our transformation complete, we became a publicly traded company with a diverse mix of investors in 2014.

Today | Doing it right

A relentless ally for your financial well-being

As a leading digital financial services company that’s constantly creating and reinventing, Ally continues to build award-winning experiences and products that bring our customers innovative approaches to online banking, lending, home loans, auto financing and wealth management.

2016 Ally print ad featuring a bald white male wearing a tie and shrugging in the bottom left hand corner, with the headline 'If you really want to make a difference in this business, your status can never be quo' in large purple lettering covering the rest of the ad.

Print Ad - 2016

Amazon, Alexa, and all related logos and motion marks are trademarks of, Inc. or its affiliates.


Ally served 18,000 auto dealers in the U.S. and more than 4 million of their retail customers.

  • Launched our direct to consumer home loans to help people reach their home buying and refinancing goals.


After acquiring TradeKing Group, Inc., Ally launched Ally Invest® — a wealth management and brokerage platform.

  • Ally launched Clearlane® to digitally connect consumers with finance providers.

  • Ally launched The Ally Skill® for Amazon Alexa.


The inaugural Ally Challenge presented by McLaren, an official PGA TOUR Champions event at Warwick Hills Golf and Country Club on September 10-16, 2018.

  • Ally sponsored seven-time NASCAR Cup Series Champion Jimmie Johnson.