In May 2009, GMAC was rebranded as Ally Bank. GM and Cerberus Capital Management LP, GMAC's prior owners, decided to implement a rebranding as part of the bank's transformation to a bank holding company and prior to the US government's infusion of cash and becoming a significant equity holder in the bank.
The rebranding campaign is part of a fresh strategy to spur retail deposit growth and overhaul the transition. Sanjay Gupta, the bank's chief marketing officer has been quoted as saying that "Ally conveys the sense of a trusted partner, the attributes that we are trying to convey."
The initial launch of the Ally Bank name has been very successful with the bank undertaking a large marketing effort to differentiate it from other online banks in terms of openness, accountability and honesty. One feature that has gotten a lot of attention in banking circles in the bank's advertised commitment to letting depositors know when their money could be performing better in a different product.
In spite of their parent company's trials and tribulations over the last couple of years, GMAC Bank customer service was always rated well above average.� GMAC Bank's previous BestCashCow.com review page is located here.
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