SANDY, UTAH - Ally Bank, the customer-obsessed banking arm of Ally Financial Inc. (NYSE: ALLY), announced a major milestone recently, surpassing $100 billion in retail deposits.
SANDY, UTAH - Ally Bank, the customer-obsessed banking arm of Ally Financial Inc. (NYSE: ALLY), announced a major milestone recently, surpassing $100 billion in retail deposits.
The news comes just months after the bank celebrated its 10th anniversary.
Ally Bank’s 1.9 million retail deposit customers have demonstrated strong loyalty over its 10-year history, where retention levels have remained consistently above 90%.
Through the first half of 2019, Ally grew retail deposits by $9.5 billion and added more than 200,000 customers.
DO IT RIGHT
Ally Bank launched in 2009 under the premise that customers didn’t need another bank, they needed a better bank, which is reflected in the company’s “Do It Right” mantra.
Ally Bank is an all-digital platform, providing 24/7 customer service and consistently competitive rates, with no monthly maintenance fees or minimum balance requirements on deposit accounts.
According to a study by Civ- icScience, 8 out of 10 people bank online and more than 6 in 10 use a mobile device for their banking needs. Ally Bank’s branchless model has benefited from these trends.