The CD can be opened by mail. The bank's FAQ page has the details, and the application pdf is available online. The application must be printed and mailed in with the check and copies of two forms of ID. The instructions are at the bottom of the application. They seem pretty lenient in how much time you have to lock in the rate. In the FAQ page it states "If it is post marked within 14 days of this call, we will honor the rate for the product you select."
Last year this bank had been offering a 5.60% 6-month CD. Seems like their CD specials usually last for several months. They also had several high rate money market account promotions last year (see post).
Branches are located in Branford, Connecticut and Bronx, New York. It has been FDIC insured since 1960 (Certificate # 18244). Bankrate.com gives the bank a rating of 3 out of 5 stars (performing) based on 6/30/07 data. This is down a little from last year when it had a rating of 4 out of 5 stars.