Amalgamated Bank is offering a 3.50% APY 15-month CD. Minimum deposit is $500, and a new checking account is required. This special is listed at the bank's front page as of 2/15/09.
The bank has an online application, but I'm not sure if this special can be opened online. In past CD promotions they allowed you to open special CDs through their online application. Update: 2/21/09: A reader reported being told by the bank that this special CD had to be opened at a branch. It's a good idea to call the branch to verify rate and availability before visiting the branch.
Branches are located in New York, New Jersey, Washington DC and in Pasadena, California.
The bank's ratings for soundness and safety are a little weak: 2 stars (below peer group) at Bankrate.com and 3.5 stars (good) at BauerFinancial. Both ratings are based on 9/30/08 data. The bank has been FDIC insured since 1934 (FDIC Certificate # 622).
Thanks to the reader who mentioned this CD in the comments