Putting lipstick on a Detroit banking pig

19 May 2009

Just as 2003 was not a popular time for cigarette makers due to swelling opposition to their products and increasing lawsuits, 2009 is not a popular time for automakers or banks. So one of the worst possible businesses to be in would be the banking arm of a Detroit automaker. Enter GMAC bank. The newest wolf in sheep’s clothing so-to-speak.

Today GMAC bank officially took a page out of the Altria playbook and has now rebranded themselves as Ally. I find it interesting that an institution that has recently rebranded themselves for what appears to be no other reason than to escape the image associated with their old brand would tout their honest, transparency and straight-talk.

Our mission
We’re a bank that values integrity as much as deposits. A bank that will always be open, accountable, and honest. Yes, honest. We won’t deal in half-truths, kindatruths, or truths only buried in fine print. That’s because we don’t have anything to hide. We’re always going to give it to you straight.

Nothing to hide, other than their old image I suppose.

That being said, the brand isn’t horrible, but doesn’t strike me as anything special. They chose a regal color palette, and I’m sure there’s some story behind the name and the treatment of the type in the logo, but I didn’t decipher much from it at first glance. They do have a nice feature on their website where the current wait time for their toll-free customer care number. For their sake, I hope it’s accurate.