Patriots Federal Credit Union is offering a special 5.75% APY 12-month certificate. The minimum deposit is $10,000, and new money is required. The special doesn't seem to be listed at the credit union's website. A reader mentioned seeing it advertised in today's Orange County Register.
I called and confirmed that this special is available. According to the service rep, it's scheduled to last until 1/15/08, but it could end early (which is likely based on the very high rate). She mentioned that it's only available at their Santa Ana branch, and you must make an appointment first which seemed odd to me. She took my number so another rep with more info on this special could call me, but no one called.
Update 12/05/07: I never received the call back, but a reader provided the following details in the comments which describes why the appointment is necessary:
PFCU is offering this high CD rate as part of a joint promotion with another financial entity. You must appear in person so the other entity can pitch you. However, you do NOT have to sign up for any other financial products to obtain the 5.75% rate. The CD itself is strictly beneath PFCU, a PFCU product and offering - and it IS NCUA insured.
Membership is open to those who live or work in Southern California. You can also be eligible to join if you're a member or employee of eligible organizations or businesses. More info is provided at their history page. However, they don't provide any details about eligible organizations. I forgot to asked about this during the call.
Membership requires a $10 fee, but this fee is waived during this promotion. A minimum balance of $25 in your savings account is required for membership.
The credit union is federally insured by the NCUA (Charter # 14785). It has $93.9 million in assets and 6,638 members. Bankrate.com gives them 3 out of 5 stars (performing) based on 6/30/07 data.
Thanks to the reader who emailed me info on this CD. More info is also available at this FW thread.