Ally Bank Earns Praise as a Top "Trustworthy" Retail Bank

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Jul 16, 2012, 09:00 ET

MIDVALE, Utah, July 16, 2012 /PRNewswire/ --

Ally Bank named one of top five "Most Trusted Companies for Retail Banking" by Ponemon Institute
Featured as a "trustable company" in new business book, "Extreme Trust"

Ally Bank's customer-centric approach to banking is earning a trusted reputation among consumers and third parties. In addition to ranking among the top five 2011 "Most Trusted Companies for Retail Banking" in a study recently released by Ponemon Institute, Ally is featured in the new book, "Extreme Trust: Honesty as a Competitive Advantage" (2012, Portfolio/Penguin).

In its ninth year, the 2011 Privacy Trust Study for Retail Banking by the Ponemon Institute measures consumer perceptions of trustworthiness for retail banking institutes.

"Customer trust and loyalty in retail banks is dependent upon the perception that the institution is taking every measure to protect their personal information," says Dr. Larry Ponemon, chairman and founder, Ponemon Institute.

Similarly, customer trust and loyalty serve as the backbone for "Extreme Trust" by Don Peppers and Martha Rogers, Ph.D.

An excerpt from the book reads, "At Ally Bank, customers are proactively reminded if they have funds in an account that could be earning higher interest, no depositor is ever charged for moving money from a savings account to a checking account in order to cover an overdraft, and the bank reimburses customers for ATM fees charged to them by other banks."

Customers have also shown their trust in Ally Bank; CD retention is at 91 percent, customer accounts have increased 30 percent year over year, and satisfaction ratings are consistently around 90 percent.

For more information on Ally Bank and its reputation, which also scored among the top five in American Banker/Reputation Institute's "2012 State of Bank Reputations" survey, visit the Ally Awards and Recognitions web page.

About Ally Bank
Ally Bank is a direct bank in the U.S. that offers a straightforward approach to banking with no minimum deposit required to open an account, 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. Member FDIC. For more information, visit the Ally media site at http://media.ally.com.

Contacts:
Beth Coggins
313-656-6964
[email protected]

Jessica Howell
313-656-6993
[email protected]

SOURCE Ally Financial