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Ally Financial Inc. (NYSE: ALLY) is a prominent digital financial services company and one of the top 25 U.S. financial holding companies. Established in 1919 and rebranded in 2009, Ally has since focused on delivering innovative financial solutions with a strong customer-centric approach. Ally's offerings span across consumer and business financial products, including award-winning online banking services through Ally Bank (Member FDIC), comprehensive auto financing, insurance, wealth management, and corporate finance.
The company is a leader in auto finance, holding one of the largest full-service auto finance operations in the U.S., alongside a robust auto-focused insurance business. Ally also offers a growing wealth management and brokerage platform, providing a wide range of investment services. The corporate finance division supports equity sponsors and middle-market companies with essential capital solutions.
Recent strategic moves include the acquisition of Ally Lending by Synchrony, enhancing its home improvement and health financing capabilities, alongside new national media and sponsorship agreements with the WNBA and Las Vegas Aces, reflecting Ally's commitment to media equity and women's sports.
Financially, Ally maintains a diverse loan portfolio with significant consumer and dealer auto loans, commercial loans, and mortgage debt holdings, positioning itself as a resilient and adaptable financial institution. With more than 11 million customers, Ally continues to prioritize technological advancements and customer satisfaction, striving to 'Do It Right' for its clients and communities alike.
Ally Lending has partnered with Eargo to enhance financing options for consumers needing hearing aids. This collaboration aims to eliminate cost barriers, allowing more individuals access to Eargo's innovative hearing devices. Ally Lending reported a significant 75% year-over-year growth in loan origination for 2020. The partnership is positioned to address the financial challenges faced by Americans, particularly amid the pandemic, by offering easy online applications and low monthly payments. Eargo's hearing aids are designed to be virtually invisible and affordable, addressing major adoption challenges in the market.
Ally Financial reported its fourth quarter and full year 2020 results, highlighting significant metrics including $182.2 billion in assets as of December 31, 2020. The company, known for its customer-centric approach, offers a variety of financial services, including automotive financing and banking products. A conference call is scheduled for 9:00 a.m. ET on January 22, 2021, to discuss the performance. Investors can access insights via the Investor Relations website.
Ally Financial Inc. (NYSE: ALLY) announced a share repurchase authorization of up to $1.60 billion following favorable results from the Federal Reserve's stress tests in December 2020. The buyback is part of the company's capital allocation framework and will commence in Q1 2021, adhering to FRB's guidelines. Additionally, a quarterly dividend of $0.19 per share was declared, payable on February 12, 2021. Ally's CEO expressed confidence in the firm's robust financial position, highlighting excess capital relative to regulatory requirements.
Ally Financial Inc. (NYSE: ALLY) will release its fourth quarter and full year financial results on January 22, 2021, at 7:30 a.m. ET. The press release will be available via PR Newswire and on the Ally Press Room website. A conference call is scheduled for 9 a.m. ET to discuss the results, including a Q&A session. Interested parties may access the call by dialing 844-530-6677 or +1-508-637-5641 for international calls with conference ID 7948248. An archived replay will be available from noon ET on January 22 to midnight ET on January 29.
On December 15, 2020, Ally Bank announced a special initiative for babies born on December 31, 2020, offering $250 in a custodial Online Savings Account. This move aims to provide these newborns a financial head start in an increasingly digital world. Ally Bank emphasizes its commitment to customer-centric solutions and digital innovation, celebrating the hope and joy that new births bring despite the challenges of 2020. Ally Financial, with $185.3 billion in assets as of September 30, 2020, continues to focus on serving consumer, commercial, and corporate customers.
On December 10, 2020, Ally Financial announced a $75,000 donation to the Humane Society of Charlotte, in collaboration with NASCAR driver Alex Bowman. This initiative aims to support animal rescue operations in the Charlotte area, where Bowman lives. HSC anticipates transferring over 600 animals to its shelter in the upcoming months, with Ally's funds aiding in their care, especially for those with medical needs. Bowman's commitment to animal welfare aligns with Ally's ethos of giving back to local communities.
Ally Bank reports significant success with its digital savings tool, Buckets, having over one million created by customers since February 2020. Users save on average six times more than traditional savers. Almost 25% of new account holders have created at least one Bucket, with popular categories including 'Emergencies' and 'Vacations'. Ally's initiatives address a national savings crisis, with 56% of U.S. adults struggling to save. Future enhancements will include Bucket Goals and Round Ups, aiming to improve user engagement and savings performance.
On December 8, 2020, Ally Financial's CEO Jeffrey J. Brown will present virtually at the Goldman Sachs US Financial Services Conference from 1-1:35 p.m. ET. A live video webcast will be available on the Investor Relations website on the day of the event, with a replay following the presentation. As of September 30, 2020, Ally Financial holds $185.3 billion in assets, providing a wide range of innovative financial services, including banking and investment solutions.
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