Is Ally Bank reliable?

[Anonymous]

I just saw a commercial for a 1-yr 2.00% fixed CD with Ally Bank. I've never heard of this bank before and I'm curious to get some more experienced opinions?

[Anonymous]

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@Anonymous wrote:
I just saw a commercial for a 1-yr 2.00% fixed CD with Ally Bank. I've never heard of this bank before and I'm curious to get some more experienced opinions?

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Ally bank is the new name for GMAC (General Motors Acceptance Corporation),  Gee, I wonder why they changed the name! lol

Since the CD is protected by FDIC, its probable pretty safe.

[Anonymous]

Thanks for the info itcft!  My new loan is to be financed thru GMAC.  I suppose I'll be making the checks out to Ally.......

Good Timing!

D-R