2.75% 15-Month CD at First Community Bank in Chicagoland - Local Only

First Community Bank is offering a special 2.75% APY 15-month CD. This doesn't seem to be listed at the bank's website. It was advertised in today's edition of My Suburban Life newspaper. The ad is available online here. Important requirements mentioned in the small print include:

• APY is accurate from 06/15/09 to 06/20/09 only
• Minimum initial deposit is $1,000
• Customer must open and maintain a primary checking account and mantain $10,000 in total deposit relationships. Minimum opening checking account deposit is $100.

The small print mentions a 3% APY, but this is probably a mistake. The ad states: "Special CD rates available to our Community First Members only." I'm not sure if this means you already have to be a customer or if you just have to open the checking account at the same time as you open the CD.

It's a small bank with one office located in Homer Glen, Illinois which is 11 miles southwest of Chicago.

It's a new bank that was just established in December 2008. Thus, it doesn't have any ratings for safety and soundness. It's a member FDIC (FDIC Certificate # 58788).

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Tags: First Community Bank, Illinois, CD rates