United Financial Credit Union is offering a High Five CD promotion with a 5.00% APY, a 5-year term, a minimum deposit of $500, and a maximum deposit of $5,000 per member. It's only available for the month of May.
They could have kept their high five theme with a $50K cap. Unfortunately, it's only $5K. With a $5K deposit, you'll earn about $250 more during the 5 years than if the money was in a 4% CD.
The credit union also offers a reward checking account with a yield that's currently 5% APY. The CD may still be useful even if you have this checking account since the checking is capped at $25K and there's no guarantee that the 5% yield will be maintained. See this post for more details about this reward checking account.
Membership is open to those who reside, work or worship in Saginaw, Bay or Midland County, Michigan. Please see their membership page for details. This page also states retirees are eligible. Membership requires a minimum deposit of $25 into the Savings Plus account.
Branches are located in Saginaw, Chesaning and Freeland, MI. The credit union is federally insured by the NCUA (Charter # 61657). It has $93.6 million in assets and 13,376 members.