Ally Financial Inc. is a leading, independent, diversified financial services
firm. Founded in 1919, we are a leading financial services company with over
95 years of experience providing a broad array of financial products and services,
primarily to automotive dealers and their retail customers. We operate as a
financial holding company (FHC) and a bank holding company (BHC). Our banking
subsidiary, Ally Bank, is an indirect, wholly-owned subsidiary of Ally Financial
Inc. and a leading franchise in the growing direct (internet, telephone, mobile,
and mail) banking market.
Dealer Financial Services, which includes our Automotive Finance and Insurance
operations, and Mortgage are our primary lines of business. Our Dealer Financial
Services business is centered on our strong and longstanding relationships with
automotive dealers and serves the financial needs of over 17,500 dealers in
the United States, including nearly 11,000 dealers outside of the General Motors
Company (GM) and Fiat Chrysler Automobiles US LLC (Chrysler) channels, and approximately
4.5 million of their retail customers with a wide range of financial services
and insurance products. We believe our dealer-focused business model, with a
focus on premium service and deep relationships, value added products and services,
and full credit spectrum expertise proven over many credit cycles, makes us
the preferred automotive finance company for thousands of our automotive dealer
customers. We have developed particularly strong relationships with thousands
of dealers resulting from our longstanding relationship with GM as well as relationships
with other manufacturers, including Chrysler, providing us with an extensive
understanding of the operating needs of these dealers relative to other automotive
finance companies. In addition, we have established relationships with thousands
of Growth channel (non-GM/Chrysler) dealers through our customer-centric approach
and specialized incentive programs. Our Growth channel primarily focuses on
franchised and larger, well capitalized dealers.
Ally Bank, our direct banking platform, is focused on the continued prudent
expansion of assets while growing a stable deposit base and deepening relationships
with its 1.1 million primary customers driven by its compelling brand and strong
value proposition. Ally Bank raises deposits directly from customers through
direct banking via internet, telephone, mobile, and mail channels. Ally Bank
offers a full spectrum of deposit product offerings including savings and money
market accounts, certificates of deposit, interest-bearing checking accounts,
trust accounts, and individual retirement accounts. We continue to expand the
deposit product offerings and accessibility in our banking platform in order
to meet customer needs.
Our strategy is to extend our leading position in automotive finance in the
United States by continuing to provide automotive dealers and their retail customers
with premium service, a comprehensive product suite, consistent funding and
competitive pricing, reflecting our commitment to the automotive industry. We
are focused on expanding profitable dealer relationships, prudent earning asset
growth, and acceptable risk-adjusted returns. Our growth strategy continues
to focus on diversifying the franchise by expanding into different products
as well as strengthening our network of dealer relationships and on the newer
online marketplaces. Over the past several years, we have increased our focus
on the Growth channel, which has resulted in increased new standard rate and
used vehicle financing volume. We also seek to broaden and deepen the Ally Bank
franchise, prudently growing stable, quality deposits while extending our foundation
of products and providing a high level of customer service.
In addition, as we look ahead, we are well positioned as the marketplace continues
to evolve and are working to build on our existing foundation of approximately
5.6 million customers, strong brand, innovative culture, and leading digital
platform to expand our products and services and to create an integrated customer
experience.
Use of the word "loan" in this document is intended to refer to, as
the context suggests, retail installment sales contracts that we have acquired
or other financing products. The term "originate" generally refers
to our acquisition of retail installment sales contracts, other financing products,
or leases as the context suggests.
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