Ally Bank
Encyclopedia
Ally Bank is a unit of Ally Financial, headquartered in Detroit, Michigan, which became a bank holding company in December 2008. The bank is based at 6985 Union Park Center, Midvale, Utah
, and is Federal Deposit Insurance Corporation
(FDIC) insured, 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.
Ally Bank is a direct bank that markets to customers offering simple, transparent products at competitive interest rates. It offers FDIC-insured savings products, including no-penalty certificates of deposit (CDs), online savings account
s, money market accounts and interest checking accounts. Recently, Ally Bank aired a TV commercial, where they claim the main character is a complete stranger, but we know this man to be a commercial TV actor. The actor is wearing glasses, and becomes a disguised stranger.
. In April 2009, Ally Financial (then GMAC) announced plans to move its corporate center from Ballantyne, Charlotte to 106525 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.
Midvale, Utah
Midvale is a city in Salt Lake County, Utah, United States. It is part of the Salt Lake City, Utah Metropolitan Statistical Area. The population was 27,029 at the 2000 census.-Geography:Midvale is located at ....
, and is Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...
(FDIC) insured, 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.
Ally Bank is a direct bank that markets to customers offering simple, transparent products at competitive interest rates. It offers FDIC-insured savings products, including no-penalty certificates of deposit (CDs), online savings account
Savings account
Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return...
s, money market accounts and interest checking accounts. Recently, Ally Bank aired a TV commercial, where they claim the main character is a complete stranger, but we know this man to be a commercial TV actor. The actor is wearing glasses, and becomes a disguised stranger.
Location
Ally Bank is based in Midvale, Utah, but some back office operations for Ally Bank and Ally Financial are located in Charlotte, North CarolinaCharlotte, North Carolina
Charlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009...
. In April 2009, Ally Financial (then GMAC) announced plans to move its corporate center from Ballantyne, Charlotte to 106525 square feet (9,896.5 m²) on four floors of 440 South Church
440 South Church
440 South Church is a 15-story skyscraper in Charlotte, North Carolina with of space. Smallwood, Reynolds, Stewart, Stewart & Associates designed the building, and Bovis Lend Lease was the general contractor. Major tenants are GMAC Financial Services and HDR...
, 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
North Carolina
North Carolina is a state located in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties. Its capital is Raleigh, and its largest city is Charlotte...
. Charlotte had many employees with banking knowledge who had been laid off from Wachovia
Wachovia
Wachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo in 2008, Wachovia was the fourth-largest bank holding company in the United States based on total assets...
and Bank of America
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
. The Ally Financial headquarters, however, would remain in Detroit.