Greenville, Del. and Omaha, Neb. -
FOR RELEASE: November 1, 2001 GMAC Bank And Ameritrade Team Up To Offer A Comprehensive Online Financial Package
Two established brands, maximize synergies of banking and brokerage products
Greenville, Del. and Omaha, Neb. -Ameritrade Holding Corporation and GMAC Bank (member FDIC) announce today an alliance to provide a broad suite of online brokerage* and financial capabilities to customers of GMAC Bank.
The two companies launched an exclusive Ameritrade/GMAC Bank co-branded web site (http://gmacbank.ameritrade.com) to the GMAC Bank customer base, which is comprised of GM/GMAC employees and their families, GM/GMAC retirees, customers and shareholders of General Motors and its subsidiaries, as well as employees of dealer and supplier networks across the country.
Participants will have the opportunity to purchase stocks and mutual funds through the Ameritrade Brokerage trading platform. They will be able to access products and investment features including real-time account information and advanced subscription services such as streaming quotes, analytical tools for screening and charting.
"This is a strategic alliance that combines Ameritrade's strong branded brokerage and technological investment infrastructure with GM and GMAC's marketing power and large affinity base - it's win-win for both companies," said Jeff Johnson, president/CEO of GMAC Bank. "Together, we will be able to provide exclusive promotional offers to our customers, which we hope will help to introduce them to the world of online investing."
The partnership is the first for GMAC Bank, which opened in August. GMAC Bank offers a core set of FDIC-insured deposit products and plans to augment its existing product mix with other traditional banking services and offerings from select "best in class" third-party financial services providers, such as Ameritrade, that are targeted to clients' financial needs.
"Our GMAC relationship demonstrates Ameritrade's Institutional Client Division's strategy to add distribution channels and expand revenues without incremental costs," said Joe Moglia, chief executive officer of Ameritrade. "This alliance also gives GMAC and GM clients a comprehensive set of financial tools for great choice and customization to help them reach their financial goals."
About GMAC BANK
Headquartered in Greenville, Del., GMAC Bank (www.gmacbank.com) operates as a federally chartered thrift offering remote banking and such personal financial services as FDIC-insured money market accounts, certificates of deposit and transactional checking accounts in person, via the phone, Internet, and mail. GMAC Bank is an affiliate of GMAC Mortgage Corporation, one of the nation's largest residential mortgage lenders and servicers with over 2 million customers throughout the United States. GMAC Bank operates as a subsidiary of GMAC Residential Holding Corp., an indirect, wholly owned subsidiary of General Motors Corporation.
About Ameritrade
Ameritrade Holding Corporation (www.amtd.com) is a pioneer in the online brokerage industry with a 26-year history of providing clients a self-directed approach to investment services. The award-winning company, through its Private Client and Institutional Client divisions, provides tiered levels of brokerage products and services tailored to meet the varying investing, trading and execution needs of self-directed individual investors, financial institutions and corporations.
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- Brokerage services are provided exclusively by Ameritrade, Inc., member NASD/SIPC. Investments purchased through Ameritrade are not FDIC insured, are not guaranteed deposits or obligations of GMAC Bank, and are subject to investment risk and may lose value, including possible loss of the principal invested.
This document contains forward-looking statements regarding future events or the future performance of Ameritrade Holding Corporation. Various factors could cause actual results to differ materially from those anticipated. Readers of this document are advised to check the documents filed by the Company with the U.S. Securities & Exchange Commission, including Forms 10-K and 10-Q for descriptions of risks and uncertainties related to forward-looking statements.