Ally Financial to Make FICO Scores Available to Auto Customers

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Jan 12, 2015, 12:46 ET

WASHINGTON, Jan. 12, 2015 /PRNewswire/ -- As announced at President Obama's BuySecure event at the Federal Trade Commission today, Ally Financial Inc. (Ally) will begin to offer its auto finance customers free access to their FICO^® Score as a means to better understand their credit health. The effort will begin with a pilot program in February and a full launch this summer. The FICO Score will be available to customers who use Ally Auto Online Services (https://www.ally.com/auto/) or the Ally Auto Mobile Pay app.

"Efforts such as the BuySecure initiative help to drive awareness of the resources available to help consumers manage their financial matters, and we commend the White House for their attention to these issues. Having free and easy access to your FICO Score is one simple measure for consumers to continually monitor their credit health and track improvements, as well as a means to know early if your credit profile has been compromised," said Ally Chief Executive Officer Michael A. Carpenter. "We are pleased to offer this information at no cost to approximately two million of our auto consumers later this summer."

"Access to your FICO Score is the latest addition to the free resources Ally makes available to our customers to help them get educated on their personal financial matters," said Jeffrey Brown, president and chief executive officer of Ally's Dealer Financial Services business. "Ally has worked to advance consumer financial education for many years and since 2011, more than 61,000 consumers have taken our Wallet Wise financial literacy curriculum on the topics of credit, budget, banking and investing, and auto financing. We continue to believe that consumer education about financial matters is among the best defense."

FICO Scores will be available to Ally's auto consumers who have an online account profile at https://www.ally.com/auto/. Customers can register for an online account profile at any time on Ally's website. The process will begin next month with a pilot program for a limited number of customers.

In addition to this resource, Ally also offers free financial education via its Wallet Wise program online at http://www.allywalletwise.com/ or through local community in-person sessions. All consumers can take the online curriculum at any time, free of charge. Ally also offers a Financial IQ quiz for consumers to test their knowledge of key topics on the Wallet Wise website.

FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.

About Ally Financial Inc.
Ally Financial Inc. (NYSE: ALLY) is a leading automotive financial services company powered by a top direct banking franchise. Ally's automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and interest checking. Ally's Corporate Finance unit provides financing to middle-market companies across a broad range of industries.

With approximately $149.2 billion in assets as of Sept. 30, 2014, Ally operates as a financial holding company.

Contact:
Gina Proia
646-781-2692
[email protected]

SOURCE Ally Financial