This is a limited time CD special at Polish & Slavic FCU. The promo page says it's to celebrate Polish Heritage month so it's likely to end after this week. The big downside is the $15K cap, but the 1.50% APY is very competitive for terms around 6 months.
As of 10/25/2010:
- 1.50% APY 7-month CD, Maximum of $15,000 per member
The other downside of this special is the credit union's limited membership.
From the credit union's About Us page:
In order to become a member of our Union, or any other credit union, one must meet certain specific conditions. In the case of PSFCU, prospective members must document Polish or Slavic ethnic origin and become members of one of the five sponsor organizations: the Polish & Slavic Center (Brooklyn), Polish Cultural Foundation (Clark, NJ), Polish Friends of Copiague (Long Island), the Polish Supplementary School Council of America, the General Pulaski Memorial Parade Committee or the Alliance of Polish Clubs in the United States (Chicago).*