DETROIT — In honor of its commitment to supporting the financial literacy needs of underserved communities, Ally Financial and its Wallet Wise program were named the 2012 recipient of the inaugural Community Relations Award by the Society for Financial Education and Professional Development (SFEPD). The company's efforts were recognized at the fifth annual Financial Literacy Leadership Conference.

"This year we presented our first Community Service Award to Ally Financial, whom our partnership with enables us to reach out to underserved communities in key cities across the country," said Theodore Daniels, president and CEO of SFEPD. "We're especially thankful for the opportunity to share the Ally Wallet Wise financial literacy program, which helps us to educate audiences in a way that's both relevant and impactful."

Ally Wallet Wise is a free financial education program that teaches consumers the basics of personal finance, including budgeting, credit, banking and investing, and vehicle finance. Since the re-launch of the program in July 2011, more than 550 classes have been presented by nonprofit partner affiliates, reaching more than 20,000 attendees.  

"Ally Financial strives to support and strengthen the communities where we live and work," said Beth Coggins, director of community relations at Ally Financial. "We are honored to accept this award and appreciate the dedication of SFEPD as a Wallet Wise affiliate."