This is the same credit union that many had joined last year when the credit union was offering a 7.01% reward checking account. The account now pays 5.11% APY as of 3/09/09, and the credit union now has a more restrictive membership. For those who already have this account, this CD may be a good deal. Refer to this post for more details about the reward checking account.
Membership is open to anyone who lives, works, worships or attends school in the Allen County Investment Area of Fort Wayne, Indiana, or in the Illinois counties of Vermilion or Coles, or in the underserved areas of the Kentucky counties of Allen, Barren or Monroe. Also eligible for credit union membership are members of the Allen County Society for the Prevention of Cruelty to Animals (SPCA) who live within 100 miles of one of the credit union's 17 branches. Please see their Membership page for the full details. Membership requires a minimum deposit of $5 into the Regular Savings account.
Branches are located in the Indiana cities of Fort Wayne, New Haven, Columbia City, Huntington and Decatur, in the Illinois cities of Charleston, Danville and Mattoon, and in the Kentucky cities of Hopkinsville and Scottsville. The credit union is federally insured by the NCUA (Charter # 1427).
Thanks to the reader who mentioned this special in the comments.