Progressive Credit Union is offering several very competitive CD rates. These include a 3.91% APY 6-month CD, a 4.18% APY 15-month CD and a 4.22% APY 24-month CD. These rates are listed at the credit union's rate table as of 2/27/09. Since the rate table has a January date, I called the credit union and confirmed these rates are still active. However, I was told that rates will be updated after today.
This credit union has an unusual membership policy. To join the credit union you have to be recommended by another member. According to the CSR, you must have a letter of recommendation from that member. Feel free to use this post to request recommendations from current members. The credit union only has 6,368 members so it's probably unlikely that any of them will read this post. For more details about membership, refer to the credit union's About Page. Membership requires a $10 deposit and a $2.50 membership fee.
Progressive is a small, one-office credit union located in New York, New York. It's federally insured by the NCUA (Charter # 60064).
Thanks to the reader who emailed me news of this credit union and CD rates.