American Eagle Bank of Chicago continues to offer a competitive 29-month CD special with a 2.50% APY. Minimum deposit is $1,000. This rate is listed in the bank's Chicago promotions page as of 6/22/2010.
One nice feature to note of the bank's CDs is a mild early withdrawal penalty. According to the small print at the bottom of the bank's rate table, it's 90 days of interest for terms over 12 months.
Accounts can only be open by residents of the Chicago metro area and current customers.
The bank's branch in South Elgin doesn't list these promotions. The bank now has two Chicago branches. These are located at 700 North Ashland Ave. and at 2255 North Western Ave.
American Eagle Bank of Chicago's ratings for safety and soundness remain the same as I reported last year: 3½ stars (good) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. At DepositAccounts.com the bank has an overall health score of 3 out of 5 (see our American Eagle Bank rates and reviews page). These ratings are based on 3/31/10 data except for Bankrate.com which is based on 12/31/09 data. The bank has been a FDIC member since 2007 (FDIC Certificate # 58514).