American Eagle Bank Chicago has added to its CD promotion that I reported on in April with a 6.00% APY 6-month certificate of deposit. Instead of the CD, you can choose a 6% APY guaranteed for 6 months in the money market account. The minimum deposit is $1,000. The standard money market rates are 5.50% APY for balances over $50K, 4.50% APY for balances between $15K and $50K and 2.50% APY for balances between $1K and $15K. A balance of $1K is required to avoid fees.
The bank also continues to offer the CD promotions that I reported on in April. These include a 5.50% APY 12-month CD and a 5.35% APY 18-month CD.
This promotion only seems available at their Chicago branch. Their branch in Elgin, Illinois has a different CD promotion (5.30% APY 19-month CD). The American Eagle Bank of Chicago just became FDIC insured in April (FDIC Certificate # 58514). The American Eagle Bank in South Elgin has been FDIC insured since 2002 (FDIC Certificate # 57359).
Update: Please note, all new accounts need to be opened in person at the Chicago location.