Ally Bank
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| Type | Private |
|---|---|
| Industry | Bank |
| Founded | 2001 (as GMAC Bank) |
| Headquarters | Midvale, Utah USA |
| Products | Deposit products |
| Employees | 616 (June 2009) |
| Website | www.ally.com |
Ally Bank is a unit of Ally Financial, headquartered in Detroit, Michigan, which became a bank holding company in December 2008.[1][2] The bank is based at 6985 Union Park Center, Midvale, Utah, and is Federal Deposit Insurance Corporation (FDIC) insured,[3] since August 2, 2004. It operated two offices in the United States, one in Utah and one in Pennsylvania, and has 616 employees as of June 2009. It also has a Canadian operation, simply called Ally, which operates under the Resmor Trust Company, and which is Canadian Deposit Insurance Corporation insured. Ally Financial is majority-owned by the United States government.[4]
Ally Bank is a direct bank that markets to customers offering simple, transparent products at competitive interest rates[citation needed]. It offers FDIC-insured savings products, including no-penalty certificates of deposit (CDs), online savings accounts, money market accounts and interest checking accounts.
[edit] Location
Ally Bank is based in Midvale, Utah, but some back office operations for Ally Bank and Ally Financial are located in Charlotte, North Carolina. In April 2009, Ally Financial (then GMAC) announced plans to move its corporate center from Ballantyne, Charlotte to 106,525 square feet (9,896.5 m2) on four floors of 440 South Church, also in Charlotte, with possible expansion later. At the time, Ally Financial 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. The Ally Financial headquarters, however, would remain in Detroit.[5][6][7][8]
[edit] References
- ^ Dash, Eric and Bajaj, Vikas "Fed Approves GMAC Request to Become a Bank " New York Times (24 December 2008)
- ^ Saha-Bubna, Aparajita "GMAC Will Change the Name of Its Bank " Wall Street Journal (15 May 2009)
- ^ FDIC Certificate #57803
- ^ Treasury aims to exit Ally bailout, Fortune, 30 December 2010
- ^ Boye, Will (2009-04-10). "GMAC Financial selects 440 South Church". Charlotte Business Journal. http://charlotte.bizjournals.com/charlotte/stories/2009/04/06/daily62.html. Retrieved 2009-12-07.
- ^ Dalesio, Emery P. (2009-03-20). "GMAC Financial adding jobs with NC expansion". Chicago Tribune. http://archives.chicagotribune.com/2009/mar/20/business/chi-ap-nc-gmac-charlotte. Retrieved 2009-12-07.
- ^ O'Daniel, Adam (2009-11-30). "GMAC’s Charlotte expansion on move". Charlotte Business Journal. http://twincities.bizjournals.com/charlotte/stories/2009/11/30/story3.html. Retrieved 2009-12-07.[dead link]
- ^ Rexrode, Christina (2009-11-25). "New CEO: Charlotte a key to GMAC". The Charlotte Observer. http://www.charlotteobserver.com/topstories/story/1074165.html. Retrieved 2009-12-07.
