MIDVALE, Utah, July 24, 2013 /PRNewswire/ -- Ally Bank, the direct banking subsidiary of Ally Financial Inc., announced it has crossed the $40 billion threshold in deposits from retail customers. The milestone comes on the heels of a 32 percent year-over-year increase in retail deposits in the first quarter of this year, the highest quarterly growth in four years.
- 722,000 customers who hold more than 1.4 million accounts
- Grew customers by 100,000, or 16 percent, in the first six months of 2013
- Brand awareness of 44% in 2Q 2013; up from 11% in 2009
- Retail deposits of $40 billion as of July 2013; up from $7.2 billion in 2009
- CD retention rate of 92%
- Customer satisfaction stands at 94%
"This accomplishment represents a significant achievement for Ally Bank, and our steady growth is another testament to our customer-first approach to direct banking," said Barbara Yastine, chief executive officer and president of Ally Bank. "Our deposit base is built from customers who want competitive and flexible products, without having to sacrifice convenience and best-in-class customer service for their banking needs."
Since the launch of the Ally Bank brand in 2009, the Bank has maintained strong business momentum. In addition to a portfolio of straightforward products, many that are ideally suited for trusts, the Bank has introduced popular online and mobile banking tools backed by a comprehensive customer service platform and call center. The Bank has also received numerous awards and recognition for its products and services, including:
- The Forrester "Outside In" Award in Customer Experience Design for Ally Mobile Banking
- Ranking second among 30 large banks for its favorable reputation in the American Banker & Reputation Institute Survey of Bank Reputations
- Top rating in The Pew Charitable Trusts' study "Checks and Balances: Measuring Checking Accounts' Safety and Transparency"
- Two 2013 Stevie® Awards for Sales & Customer Service(SM)
- "Best Online Bank," "Best Savings Account" and "Best One-Year CD" in MONEY® Magazine's annual "Best Banks in America" ( October 2012)
- Savings & CDs – High Yield CD, Raise Your Rate CD, No Penalty CD, Money Market Account and Online Savings Account
- IRAs – Traditional, Roth and SEP IRAs
- Interest checking – free standard checks, no minimum deposit/monthly maintenance fees, free mobile banking app, bill pay and Popmoney; Ally charges no ATM fees and we reimburse other U.S. banks' ATM fees nationwide