Ally Financial launched a comprehensive set of financial support initiatives to help the people and communities it serves to withstand the extraordinary pressures triggered by the COVID-19 health crisis and be better positioned to recover quickly from its effects.
“At Ally, we recognize there has never been a more critical time to deliver on our promise to ‘do it right’, and we are committed to supporting the people we serve safely and confidently through this crisis,” said Ally Chief Executive Officer Jeffrey J. Brown. “We are taking multiple steps to support our customers, communities and all stakeholders to bolster peace of mind and help safeguard their long-term financial well-being. We’ll leverage our strong market position and consumer lending capabilities as we work through the crisis and continue to prioritize long-term value. When we all do our part, we help create stronger and more resilient communities that benefit us all.”
Ally is taking the following steps to provide support to its customers, auto dealers, communities and employees. Highlights of the plan include:
- Defers payment for auto customers up to 120 days
- Defers payment for mortgage customers up to 120 days
- Gives new auto customers the option to delay first payment for 90 days
- Pledges $3 million in financial aid to local communities and organizations