Ally Wallet Wise Launches Quiz to Gauge Consumer Financial IQ

Company recognizes Financial Literacy Month with several consumer-focused activities

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Apr 02, 2012, 12:00 ET

DETROIT, April 2, 2012 /PRNewswire/ -- Today Ally Financial announced its initiatives on behalf of National Financial Literacy Month. Throughout the month of April, Ally will host several activities centered on its financial literacy program, Ally Wallet Wise, to engage and educate consumers on the dos and don'ts of budgeting, credit, banking and investing, and automotive finance.

Are you "Wallet Wise?"
To kick off its Financial Literacy Month efforts, Ally has created a free, online financial IQ quiz to help consumers gauge their current level of money smarts. The quiz is available at http://www.allywalletwise.com/Financial-IQ. Consisting of 12 multiple-choice questions, the quiz includes topics like credit scoring factors and overdraft protection for checking accounts. Upon completion, quiz takers will receive an IQ score, as well as easy next steps to sharpen their financial skills, if needed.

"With Ally Wallet Wise, we provide consumers with basic financial knowledge so they can make educated decisions with their personal finances," said Gina Proia, Ally chief communications officer and head of Community Relations. "This quiz will help them test their financial savvy and learn where they can enhance their knowledge."

Tweet Chat with Personal Finance Expert
To help consumers with their unique and specific financial questions, Ally Wallet Wise will host a live Tweet Chat with personal finance journalist and expert Carmen Wong Ulrich on April 23 at 10:30 a.m. EDT. Responding to questions in real time, Wong Ulrich will lead the Tweet Chat live from a classroom at Detroit's Cornerstone Leadership and Business High School using Wong Ulrich's Twitter account and hashtag #FinLit. Consumers of all ages are encouraged to participate as Wong Ulrich provides her personal tips and recommendations on a variety of finance topics. For details on the Tweet Chat, go to www.twitter.com/ally.

In-Person Wallet Wise Sessions
As part of the Federal Reserve Bank of Chicago's Money Smart Week, starting April 21, Ally will host 12 in-person, free Wallet Wise financial education sessions in Detroit. Money Smart Week is a series of free classes and activities designed to help consumers better manage their personal finances and is celebrating its tenth anniversary. Full Wallet Wise event details can be found at www.moneysmartweek.org or www.allywalletwise.com.

Daily Money Tips on Twitter
To provide financial tips for consumers, Ally Financial will tweet daily money tips and insights from the @Ally Twitter account. Followers are encouraged to send in their questions and retweet tips to share among their own personal networks. Also in April, @Ally will launch its Wednesday Wallet Wise series, which will provide financial literacy tips weekly throughout the remainder of 2012.

About Ally Wallet Wise
Ally Wallet Wise is a free financial education program that teaches consumers the basics of budgeting and credit, banking and investing, and financing a vehicle. Ally Wallet Wise is available through www.allywalletwise.com and live sessions hosted by Ally and its affiliates. Previously known as SmartEdge by GMAC, the program launched in 2002 and was rebranded and updated in 2011.

About Ally Financial
Ally Financial Inc. (formerly GMAC Inc.) is one of the world's largest automotive financial services companies. The company offers a full suite of automotive financing products and services in key markets around the world. Ally's other business units include mortgage operations and commercial finance, and the company's subsidiary, Ally Bank, offers retail banking products. With approximately $184 billion in assets as of Dec. 31, 2011, Ally operates as a bank holding company. For more information, visit the Ally media site at http://media.ally.com or follow Ally on Twitter: @ally.

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

Jessica Howell
313-656-6993
[email protected]

SOURCE Ally Financial