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FDIC Approves the Deposit Insurance Applications for Ford Credit Bank, Salt Lake City, Utah, and GM Financial Bank, Salt Lake City, Utah

January 22, 2026

WASHINGTON – The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved deposit insurance applications submitted by Ford Motor Company to establish Ford Credit Bank and General Motors Company to establish GM Financial Bank. Ford Credit Bank and GM Financial Bank will both be Utah-chartered industrial banks.

Applications for deposit insurance are evaluated under a statutory framework of seven factors that include: the financial history and condition of the institution; the adequacy of the institution’s capital structure; the future earnings prospects of the institution; the general character and fitness of the management of the institution; the risk presented by the institution to the Deposit Insurance Fund; the convenience and needs of the community to be served by the institution; and whether the institution’s corporate powers are consistent with the purposes of the Federal Deposit Insurance Act.

Ford Credit Bank’s proposed business model will focus on providing automotive financing products nationwide, primarily through the purchase of retail installment sales contracts from independent Ford dealers. Funding will primarily consist of retail savings accounts and time deposits obtained via the bank’s website and mobile application. FDIC staff found that Ford Credit Bank satisfied the statutory factors for approval, subject to certain conditions and written agreements. Among other conditions, Ford Credit Bank will be required to maintain a minimum 15 percent tier 1 leverage ratio, and Ford Motor Company will be required to support the bank’s capital and liquidity positions.

GM Financial Bank’s proposed business model will focus on providing automotive financing products nationwide, primarily through the purchase of retail installment sales contracts from GMF. Funding will primarily consist of savings accounts and time deposits via the bank’s website and a mobile application. FDIC staff found that GM Financial Bank satisfied the statutory factors for approval, subject to certain conditions and written agreements. Among other conditions, GM Financial Bank will be required to maintain a minimum 15 percent tier 1 leverage ratio, and General Motors Company will be required to support the bank’s capital and liquidity positions.

The FDIC approval orders expire if Ford Credit Bank and GM Financial Bank are not established within 12 months, unless extended by the FDIC.

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MediaRequests@fdic.gov

Last Updated: January 22, 2026