Mansfield Bank is offering a 14-month CD special with a 1.75% APY. Minimum deposit is $1,000. This rate is listed at the bank's CD rates page as of 5/30/2010.
A yield of 1.75% may seem low, but for terms around 1-year, I'm afraid it's very competitive. For comparison, the best 12-month nationwide CD yield currently listed at Bankrate.com is 1.55% APY at Sallie Mae Bank. You can find a few higher rates available nationwide in my weekly summary and in the DepositAccounts.com 12-month CD rates table.
The Mansfield Bank CD special appears to require a branch visit. Branches are located in the Massachusetts cities of Mansfield, Norton, West Bridgewater and Easton.
The bank's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial, 4 stars (sound) at Bankrate.com and an overall health score of 3 out of 5 at DepositAccounts.com (see our Mansfield Bank rates and reviews page). The bank has been a FDIC member since 1985 (FDIC Certificate # 26448).
In addition to FDIC deposit insurance, the bank has Shared Insurance Fund (SIF). According to the SIF website:
The Share Insurance Fund (SIF) is a private fund owned by the member co-operative banks, which insures all deposits at co-operative banks in Massachusetts above Federal Deposit Insurance Corporation (FDIC) limits.
This is similar to DIF which covers Massachusetts-chartered savings banks.