Stellantis Financial Services US Corp. has received conditional approvals from the Federal Deposit Insurance Corporation and the Utah Department of Financial Institutions to create Stellantis Bank USA, an industrial bank based in Utah and designed to expand the group’s financial services offering in the U.S. market.
The project aims to strengthen support for both vehicle buyers, through a wider range of financing options, and the dealer network, where the in-house bank could become a useful tool to support sales, commercial management and related services.
Stellantis Financial Services moves toward launching Stellantis Bank USA
Tommy Moore Jr., CEO of Stellantis Financial Services US Corp., emphasized the intention to put customers at the center of the operation, giving them greater freedom in choosing financing solutions and introducing new products for dealers.
The operational launch, however, is not imminent yet. The approvals remain conditional and require further steps before the official opening. Stellantis Financial Services US must complete the bank’s organizational plan and pass the pre-opening regulatory checks required by the competent authorities.
Once operational, Stellantis Bank USA will function as an insured depository institution, with all the related controls in terms of capital, liquidity, governance, security, operational soundness and consumer protection compliance.
Stellantis Financial Services US Corp. is Stellantis’ wholly owned financial company in the United States and currently supports customers and dealers of the Alfa Romeo, Chrysler, Dodge, Fiat, Jeep and Ram brands with automotive financing services.
The creation of a true in-house bank would represent a significant step in the group’s financial strategy in North America, in line with other major automakers that have developed their own banking structures to manage financial relationships with customers and dealer networks more directly.
