The credit union is also offering a $100 checking account bonus. This promotion is listed in the credit union's website (see promotion page). It requires opening a Free Checking for Life account and adding direct deposit of at least $100 per month. The checking account has no minimum balance requirements, and the first order of checks is free.
You may not be able to do both the CD and checking account promotion. The small print of the checking promotion does say that the offer cannot be combined with other offers. A $2k deposit earning 9% for 7 months will make you about $46 over a 5% account. So if you don't mind the direct deposit, the $100 bonus may be a better deal.
Credit union membership is open to members of any California Parent-Teachers Association (PTA). The California PTA is open to any community member. You can join the PTA by visiting any California Coast branch. Teachers and employees of schools in California and students of schools in San Diego County are immediately eligible to join the credit union. Please see the credit union's who can join page, for more details. Membership requires a minimum deposit of $25 into a regular savings account.
Branches are located in San Diego, Chula Vista, La Mesa, Murrieta, San Marcos, Santee, Temecula and Oceanside, CA. The credit union is federally insured by the NCUA (Charter # 66584). It has $875.3 million in assets and 67,046 members.
[Edit 9/20/07: Updated link to online CD ad.]