An online retail bank that is part of Ally Financial, a bank holding company that began in 1919 as GMAC, providing financing for the auto industry and its customers. Over the years, GMAC added more products and services, including home mortgages and insurance, and became an independent financial services provider in 2006. In 2008, it became a bank holding company, eventually renamed Ally Financial. GMAC Bank, a wholly owned subsidiary of Ally Financial, was renamed Ally Bank in 2009. It is chartered in Midvale, Utah, and offers online savings, checking and money market accounts, certificates of deposit and IRA products. It reported total assets of about $93 billion in mid-2012.