Federal Trust Bank continues to list some competitive CD rates. These include an APY of 4.50% for terms of 36, 48 and 60 months. Also competitive is the 12-month CD with an APY of 3.75%. Minimum deposit is $500, and the early withdrawal penalty is 6 months of interest. These rates are listed in the bank's rate table as of 12/26/08.
It appears a branch visit is required to open the CD. Branches are located in several Central Florida cities including Winter Park, Sanford, New Smyrna Beach, Palm Coast and Eustis.
The bank isn't in good financial shape. BauerFinancial gives it 0 stars based on 9/30/08 data. However, there has been a new development with Federal Trust that should help it weather the credit crisis. Federal Trust's parent has agreed on an acquistion by Hartford Financial Services in Novmeber (press release). Hartford is one of the many companies that are buying problem banks so it can qualify for federal assistance from the TARP funds.
As I recommend with any bank, make sure to stay below FDIC limits. The bank has been FDIC insured since 1988 (FDIC Certificate # 32580).