Ally commits over $150 million to workforce development initiatives to drive economic mobility

Core Viewpoint - Ally Financial Inc. has committed over $150 million in 2025 to support workforce development aimed at enhancing economic mobility through education, career opportunities, and job creation [1][2] Group 1: Financial Commitment and Impact - The company’s Community Reinvestment Act (CRA) efforts in 2025 will generate more than $147 million in loans and investments focused on workforce development, including job creation and retention [2] - Ally Charitable Foundation has awarded over $1.6 million in grants to 57 nonprofit organizations in Charlotte and Detroit, with nearly $1 million allocated to Detroit-based organizations and $700,000 to Charlotte-based organizations [3] - Total grantmaking by the Ally Charitable Foundation in 2025 is nearly $3 million, supporting 113 nonprofits across Charlotte and Detroit [3] Group 2: Community Engagement and Support - There has been a 113% increase in grant requests since 2022, indicating a significant need for community support [4] - Ally's initiatives include partnerships with local organizations to provide educational and professional development opportunities, such as the "Saturdays in the D" program in Detroit [4] - In Charlotte, Ally participates in the Tech Rising collaborative, which aims to bridge the digital divide and supports local nonprofits through grants [5] Group 3: Workforce Development Programs - Ally invests in programs that support the next generation of workers, including the University Growth Fund and the Small Business Investing Scholars Program [6][7] - The company emphasizes not only job creation but also the quality of jobs, focusing on low- to moderate-income individuals and communities [7] - Ally has a long-standing relationship with The Other Side Academy, providing nearly $1.5 million in grants to support workforce preparedness for formerly incarcerated individuals [8]