Naugatuck Valley Savings and Loan has a special CD with a 5.15% APY for terms of either 3, 4 or 5 years. The minimum deposit is $1,000 with no maximum. It does require a checking account with direct deposit.
The special doesn't seem to be listed at the bank's website. A reader mentioned seeing this advertised yesterday, and I just called for additional details. According to the CSR, the direct deposit can be any amount. It just has to be outside money. He didn't mention that it had to be from a payroll. The minimum initial deposit for the checking account is $100, and the Freedom Checking qualifies. The bank changes rates every Tuesday, so it's possible this may end tomorrow, but the CSR thought it would probably last longer. Since it was just advertised yesterday, this would seem likely.
There's also a $75 checking bonus for the Freedom Checking, however, the CSR asked his supervisor if this bonus can be stacked with the CD special, and he was told no, it cannot be stacked.
According to the CSR, the CD special is available at all of their branches, and it does require a branch visit. Branches are located in the Connecticut cities of Naugatuck, Beacon Falls, Cheshire, Derby, Seymour, Shelton, Southbury and Waterbury.
The bank has a 5-star rating (superior) at BauerFinancial based on 3/31/08 data. It has been FDIC insured since 1951 (FDIC Certificate # 30365).
Thanks to the reader who mentioned this promotion in the finding the best deals post.