Ally Bank Headquarters Information

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Ally bank is a subsidiary of Ally Financial. Ally Financial is a bank holding company that’s based in Detroit. It provides banking products but is also well known in the auto financing market. It’s one of the top lenders in the car market.

Ally Financial is the 21st largest bank in the U.S. based on the value of its assets. As of 2016, its assets were valued at $163.728 billion.

The History of Ally Financial

Ally financial was founded by the General Motors Corporation back in 1919. It was then known as the General Motors Acceptance Corporation. It would keep this name until 2009 when it became Ally Financial.

The company was founded with the purpose of providing financing for customers who wanted to buy cars. In the beginning, the company had five offices based in:

  • New York City
  • Chicago
  • Detroit
  • San Francisco
  • Toronto

The bank grew over the years and extended its reach into other parts of the continent. It also expanded its services and products and was soon providing:

  • Mortgages
  • Commercial finance
  • Insurance etc.

GMAC would even acquire Colonial Mortgage in 1985 from Norwest Mortgage. GMAC would, in 2005, establish Residential Capital to act as a holding company for its mortgage services.

In 2006, General Motors sold a 51% portion of GMAC to Cerberus Capital Management. In the same year, it would also sell a controlling interest in its real estate division.

In 2012, the company sold its Canadian banking operations and in 2014, it went public.

One year later, it moved its headquarters to One Detroit Center which was then re-branded Ally Detroit Center.

The Headquarters

The headquarters of Ally Financial are located at Ally Detroit Center which is currently the tallest building in Michigan. The building is located in downtown, overlooking the city’s financial district.

The skyscraper is 619 feet tall which makes it the second tallest building in the state. It has 43 stories in total. The building was constructed between 1991 and 1993.

Several other companies also have their headquarters in the same building including the law firm, Dickinson Wright.

Ally Bank, the banking subsidiary of the holding company has a separate headquarters at 200 W Civic Center Drive in Sandy, Utah. This building was completed in 2006 and has a total of six stories.

Ally Financial Divisions

  • Ally Auto: This one of the company’s major divisions. It is currently one of the top lenders in this market in terms of volume. Its customers include 18,000 dealerships and 4.4 million customers. The company also owns SmartAuction through which more than 5 million cars have been sold.
  • Ally Bank: This is a direct bank which currently has $66.6 billion in deposits from its retail customers. The bank also offers other standard banking products such as credit cards, checking accounts, CDs etc.
  • Ally Invest: This is a discount brokerage firm that operates online. The electronic trading platform can be used to trade in stocks, funds, bonds, options, futures etc.
  • Ally Corporate Finance: This division provides financing options to businesses in certain industries.

Ally Bank Headquarters Address

200 Civic Center Dr, Sandy, UT 84070

Ally Bank headquarters address

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