Introducing Ally Bank Name

Ally Bank Name was founded in 1919 as a subsidiary of General Motors, making it one of the oldest online banks in the US.

It's a bank that's been around for over a century, and has been serving customers for over 100 years.

Ally Bank Name is a direct bank, which means it doesn't have any physical branches, and all of its banking services are available online or by phone.

This unique approach to banking allows Ally Bank Name to offer higher interest rates on savings accounts and lower fees compared to traditional banks.

GMAC Bank is now known as Ally Bank, a name chosen after extensive interviews with customers. The re-branding effort aims to distance itself from its troubled parent, GMAC LLC.

Ally Bank will offer a variety of savings products, including no-penalty certificates of deposits, online savings accounts, and money market accounts. This is a clear effort to expand its consumer banking offerings.

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The name Ally was chosen because it "aptly fit the character of the brand", according to Sanjay Gupta, chief marketing officer. This new brand is all about treating customers with total transparency.

The re-branding of the bank is a result of GMAC's struggle amid the collapse of the housing and auto markets. The company needs $11.5 billion in capital, and the most likely source is the government itself.

Ally Bank will operate as a unit of GMAC Financial Services, a company jointly owned by automaker General Motors and an investor group led by private equity firm Cerberus Capital Management LP.

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