Please note that this is an online special, and it's available nationwide. OneWest Bank also has branch rates and specials with different requirements.
OneWest Bank's E-Money Market account remains competitive with a 2.25% APY for balances over $1,000. This rate is listed at OneWest's rate table as of 4/07/09 (Update 6/01/09: See new rates at bottom) There's a $7/month service charge for balances under $1,000. Also, no interest is earned when the balance falls below $1,000. Also note, this should really be called a savings account since there is no check writing or check card.
I have more details on IndyMac's CDs and E-Money Market Account in this 2008 post which includes my experience when I opened an IndyMac CD. I don't know how much has changed since then. I hope OneWest stays committed to offering an internet bank with not only competitive rates but strong internet features that make it easy to open and manage online accounts.
OneWest Bank now has an entry in the FDIC database. The established date is listed as 3/19/2009. No website is listed in the FDIC page. I would guess they're planning a new website name to replace IndyMac.com. I have more details of this change from IndyMac to OneWest in this March 20th post.
E-Money Market Rate History (APYs):
06/01/09: 0.75% $1K-$10K, 1.25% $10K-$25K, 1.50% $25K-$50K, 2.10% $50K-$100K, 2.15% $100K+
04/07/09: 2.25% $1K+