ally.com Contact Help Search Our Company Social Impact Careers Investor Relations Press Room Suppliers Ally Home About Us Our Company History Our History 1920s – 30s 1940s – 50s 1960s – 70s 1980s – 90s 2000s – 10s Today 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." 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 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 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. 1980-1990 Initial launch of loans to home buyers. 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 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 - 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 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. 2017 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. 2018 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. Print Ad – 2016 ABOUT Our Company Social Impact Careers Investor Relations Press Room Suppliers BUSINESS SOLUTIONS Corporate Finance Dealer Services Ally Ventures Ally Lending LEARN Financial Life Tips & Tools Do It Right Wallet Wise RESOURCES Contact Give Feedback ATM Locator Site Map Shop Ally Gear TERMS & PRIVACY Ally Invest Disclosures Legal Privacy Security A FEW THINGS YOU SHOULD KNOW Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company, NMLS ID 3015. Ally Bank, the company's direct banking subsidiary, offers an array of deposit, personal lending and mortgage products and services. Ally Bank is a Member FDIC and Equal Housing Lender , NMLS ID 181005. Credit products and any applicable Mortgage credit and collateral are subject to approval and additional terms and conditions apply. Programs, rates and terms and conditions are subject to change at any time without notice. Ally Servicing LLC, NMLS ID 212403 is a subsidiary of Ally Financial Inc. Options involve risk and are not suitable for all investors. Review the Characteristics and Risks of Standardized Options brochure (PDF) before you begin trading options. Options investors may lose the entire amount of their investment or more in a relatively short period of time. Trading on margin involves risk. You can lose more funds than you deposit in a margin account. Please review Margin Account Agreement and Disclosure for more information regarding margin trading. Securities products and services are offered through Ally Invest Securities LLC, member FINRA/ SIPC. You can find background on Ally Invest Securities at FINRA’s BrokerCheck. View Securities Disclosures Advisory services are offered through Ally Invest Advisors Inc., a registered investment adviser. View Advisory Disclosures Ally Invest Advisors, Ally Invest Securities, and Ally Invest Forex LLC are wholly owned subsidiaries of Ally Invest Group Inc. Ally Bank and Ally Invest Group are wholly owned subsidiaries of Ally Financial Inc. Securities products are NOT FDIC INSURED, NOT BANK GUARANTEED, and MAY LOSE VALUE. Foreign exchange (Forex) products and services are offered to self-directed investors through Ally Invest Forex LLC. NFA Member (ID #0408077), who acts as an introducing broker to GAIN Capital Group, LLC ("GAIN Capital"), a registered FCM/RFED and NFA Member (ID #0339826). Forex accounts are held and maintained at GAIN Capital. Forex accounts are NOT PROTECTED by the SIPC. View Forex Disclosures Ally and Do It Right are registered service marks of Ally Financial Inc. App Store is a service mark of Apple Inc. Google Play is a trademark of Google Inc. Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license. From NerdWallet. © 2017-2021 and TM, NerdWallet, Inc. All rights reserved. From Kiplinger's Personal Finance. © 2021 The Kiplinger Washington Editors. All rights reserved. Used under license. From MONEY. © 2020 Ad Practitioners, LLC. All rights reserved. Used under license. ©2009–2021 Ally Financial Inc.