Ally Bank Names the Second Monday in October National Online Bank Day

- Alignment with trends in consumer banking behavior have fueled steady growth for online banks

- Lower-cost online bank model allows institutions like Ally to offer a better value proposition over traditional banks

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Oct 12, 2015, 09:00 ET

MIDVALE, Utah, Oct. 12, 2015 /PRNewswire/ -- To recognize that it has surpassed 1 million retail deposit customers, Ally Bank, the direct banking subsidiary of Ally Financial Inc. (NYSE: ALLY), has named the second Monday in October of each calendar year National Online Bank Day. In addition, National Online Bank Day provides an opportunity to highlight the value, ease and convenience of banking with online-only institutions.

Approximately 87 percent of U.S. households currently bank online, according to Javelin Strategy & Research¹. In the case of Ally Bank, its steady customer growth is the result of a highly competitive spectrum of products, features and services, combined with a growing population of technologically savvy consumers who like the ability to manage their online bank accounts whenever and wherever they want. The distinct cost advantage of Ally's online model allows it to pass those savings along to its customers in the form of features they value most, such as competitive rates, minimal fees and a simpler, smarter way to bank.

Ally Bank customer-centric approach, including 24/7 live customer service and convenient access via online banking and a broad variety of mobile apps, is another factor in its strong acceptance by consumers. The result is strong customer satisfaction and advocacy, as well as industry recognition as a 'Best Online Bank' by a number of noteworthy personal finance outlets, including Money Magazine®, Kiplinger's Personal Finance, Go Banking Rates and My Bank Tracker.

"As an online bank, we are able to offer consumers a compelling value proposition due to our lower cost structure compared with traditional banks with brick-and-mortar locations," said Diane Morais, chief executive officer and president of Ally Bank. "In addition to the value and high-level of service we provide, in banking with Ally, our customers can accomplish nearly every task they might typically conduct at a bank branch simply and efficiently."

Learn more about National Online Bank Day at http://nationaldaycalendar.com/calendar-at-a-glance/, as the percentage of customers who prefer to do their banking through direct channels, including internet phone and mobile, continues to grow.

¹Javelin Strategy & Research's Online Banking and Bill Payment Forecast 2014-2019.

About Ally Bank
Ally Bank is a direct bank in the U.S. that offers a straightforward approach to banking with no minimum deposits, no monthly maintenance fees and 24/7 live customer service. A subsidiary of Ally Financial Inc., the bank offers online savings, interest checking, money market accounts, certificates of deposit with terms ranging from three months to five years and IRA Plans and products. Follow us on Twitter @allybank or at facebook.com/allybank. Member FDIC. For more information, visit the Ally media site at http://media.ally.com or on Twitter, @ally.

Contact:

Andrea Puchalsky
313-656-3798
[email protected]

SOURCE Ally Financial