Ally Financial Inc., incorporated on February 21, 1997, is a digital financial services company. The Company is a bank and financial holding company. The Company offers various financial products for consumers, businesses, automotive dealers and corporate clients. The Company's segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. Dealer Financial Services business line includes the Company's Automotive Finance and Insurance segments. Its primary customers are automotive dealers, which are typically independently owned businesses. Its Dealer Financial Services operations offer a range of financial services and insurance products to automotive.
The Company's banking subsidiary, Ally Bank, is an online bank, and a subsidiary of Ally Financial Inc., offering a range of deposit and other banking products. Ally Bank offers a spectrum of deposit product offerings, such as checking, savings and certificates of deposit (CDs), including various raise-your-rate CD terms, individual retirement account (IRA) deposit products, Popmoney person-to-person transfer services, e-check remote deposit capture, and mobile banking. In addition, brokered deposits are obtained through third-party intermediaries. Ally Bank raises deposits directly from customers through direct banking through the Internet, telephone, mobile and mail channels.
Automotive Finance operations
The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities. Its automotive finance services include providing retail installment sales contracts, loans, and leases, offering term loans to dealers, financing dealer floorplans and other lines of credit to dealers, fleet financing, providing financing to companies and municipalities for the purchase or lease of vehicles and equipment, and vehicle remarketing services. For consumers, it provides retail financing and leasing for new and used vehicles, including recreational vehicles (RVs). In addition, its Commercial Services Group (CSG) provides automotive financing for small businesses and automotive and equipment financing for companies and municipalities. Through its commercial automotive financing operations, it funds dealer purchases of new and used vehicles through wholesale floorplan financing.
The Company's other commercial lending products for dealers include real estate, working capital and acquisition loans. It also provides a range of automotive remarketing services, including the use of SmartAuction, its online auction platform, which supports dealer-to-dealer and other commercial wholesale vehicle transactions. The Company and others, including dealers, fleet rental companies and financial institutions, utilizes SmartAuction to sell vehicles to dealers and other commercial customers.
Insurance operations
The Insurance operations segment offers both consumer finance protection and insurance products sold primarily through the automotive dealer channel, and commercial insurance products sold directly to dealers. As part of its focus on offering dealers a range of consumer financial and insurance products, it provides vehicle service contracts (VSCs), vehicle maintenance contracts (VMCs) and guaranteed asset protection (GAP) products. It also underwrites selected commercial insurance coverages, which primarily insure dealers' wholesale vehicle inventory. In addition to its product offerings, it provides consultative services and training to assist dealers in optimizing Finance and Insurance results. Its services also include an advisory role to the dealer relative to the necessary liability and physical damage coverages for a dealership. Its VSCs for retail customers offer owners and lessees mechanical repair protection and roadside assistance for new and used vehicles beyond the manufacturer's new vehicle warranty. These VSCs are marketed to the public through automotive dealerships and on a direct response basis. The VSCs cover virtually all vehicle makes and models.
The Company also offers GAP products, which allow the recovery of a specified economic loss beyond the covered vehicle's value in the event the vehicle is damaged and declared a total loss. Ally Premier Protection is its vehicle service contract offering and provides coverage for new and used vehicles of virtually all makes and models. Wholesale vehicle inventory insurance for dealers provides physical damage protection for dealers' floorplan vehicles.
Mortgage Finance operations
The Mortgage Finance operations segment consists of the management of a held-for-investment consumer mortgage finance loan portfolio, which includes bulk purchases of high-quality jumbo and LMI mortgage loans originated by third parties. It also offers direct mortgage originations consisting of jumbo and conforming mortgages through a third-party fulfillment partner, LenderLive.
Corporate Finance operations
The Corporate Finance operations segment provides senior secured leveraged cash flow and asset-based loans to mostly the United States-based middle market companies. Its primary focus is on businesses owned by private equity sponsors with loans typically used for leveraged buyouts, mergers and acquisitions, debt refinancing, restructurings and working capital. The portfolio is diversified across multiple industries, including retail, manufacturing, distribution, service companies and other specialty sectors. These specialty sectors include its Healthcare and Technology Finance verticals. The Healthcare vertical provides financing across the healthcare spectrum, including services, pharmaceuticals, biotechnology, manufacturing, and medical devices and supplies. Its Technology Finance vertical provides financing solutions to venture-backed, technology-based companies.
Corporate and Other
The Corporate and Other segment consists of activity related to centralized corporate treasury activities, such as corporate investment securities and loan portfolios, short- and long-term debt, retail and brokered deposit liabilities, the amortization of the discount associated with debt issuances and bond exchanges, and the residual impacts of its corporate funds-transfer pricing (FTP) and treasury asset liability management (ALM) activities. Corporate and Other also includes certain equity investments which primarily consist of Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) stock, the management of its legacy mortgage portfolio, which primarily consists of loans. It also includes financial activities TradeKing Group, Inc. (TradeKing). TradeKing a digital wealth management company with an online broker-dealer, digital portfolio management platform and educational content.
500 Woodward Ave Fl 10
The company trades on NYSE exchange. The company headquarter is located in Detroit, MI, United States. The company was established in the 1919.| Ticker | ALLY |
| Long Name | Ally Financial Inc. |
| Short Name | Ally Financial |