This promo rate doesn't seem to be listed on the bank's website. A reader mentioned receiving a postcard in the mail from the bank. He checked with the bank and was told that it's being offered to select customers, but if you come into a branch, anyone should be able to qualify.
Branches are located in several Massachusetts cities including Arlington, Lexington, Medford, West Roxbury and Brookline.
The bank has a 5 star rating at BauerFinancial which is the highest rating given for soundness. It has been FDIC insured since 1957 (FDIC Certificate # 17798).
Thanks to the reader who sent me email on this promotion.
Other High Yield Money Market Accounts
I just posted on a 4% savings account that's available nationwide and is guaranteed through 2008. The are several more competitive savings account rates listed in my weekly rate summary. Another good source of savings account rates is at BestCashCow.