History

An ally through
the years

From our beginnings in auto finance to our expansion into online banking, our commitment to customers has remained strong for nearly 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."

1919 Opened our doors in New York City and later that year added offices in Detroit, Chicago, San Francisco and Toronto 1924 Financed our 4 millionth vehicle 1939 Formed Motors Insurance Corporation (MIC)

Detroit Car Factory – 1910s
Detroit Car Factory – 1910s

1940s – 1950s

Financing beyond cars

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.

1941 Financed locomotives during WWII 1951 Financed household appliances through participating retailers 1956 Introduced the Time Payment Plan

Honolulu Clipper - 1939

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.

1965 Offered comprehensive coverage for vehicles 1973 Introduced mechanical coverage 1977 Financed our 75 millionth vehicle

Print Ad - 1967

1980s – 1990s

Exploring new roads

Expanding our financing capabilities

In the 1980s we leased the auto industry's first electric-powered cars. We also expanded our business to include mortgage lending, 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.

1985

Financed our 100 millionth vehicle

Offered loans to home buyers

1999

Formed our Corporate Finance division

Print Ad - 1989

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.

2000 Established GMAC Bank

Launched SmartAuction, our unique online remarketing tool for dealers

2001

Reached $1 trillion in financing for 150 million vehicles

2009

Transformed GMAC Bank into Ally Bank

Ally Bank Print Ad - 2014

2000 Established GMAC Bank

Launched SmartAuction, our unique online remarketing tool for dealers

2001

Reached $1 trillion in financing for 150 million vehicles

2009

Transformed GMAC Bank into Ally Bank

Ally Bank Print Ad - 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.

2010

Renamed our company Ally Financial

2012

Exceeded 1 million Ally Bank customer accounts

2013

Granted financial holding company status

2014

Completed our IPO

Ally IPO Launch — 2014

Today

Delivering on our promise

Living up to our name

Today we are an independent market-driven financial services company that's passionate about serving auto dealers and their customers — and dedicated to making online banking better with great rates and a simpler, smarter experience. In every line of business, our distinct customer focus is at the center, and will continue to drive our company moving forward.

Currently Ally Auto serves 17,000 auto dealers in the U.S. and more than 4 million of their retail customers

Ally Bank surpasses $50 billion in customer deposits

Ally Bank named "Best Online Bank" by MONEY® magazine for the 4th consecutive year since 2011

Ally Bank Print Ad - 2014

Currently Ally Auto serves 17,000 auto dealers in the U.S. and more than 4 million of their retail customers

Ally Bank surpasses $50 billion in customer deposits

Ally Bank named "Best Online Bank" by MONEY® magazine for the 4th consecutive year since 2011

Ally Bank Print Ad - 2014