It appears a branch visit is required to open an account. Branches are located in Washington DC, Maryland and Virginia.
The bank has fair ratings for safety and soundness: 3 stars (performing) at Bankrate.com and 3½ stars (good) at BauerFinancial. Both ratings are based on 3/31/09 financial data. The bank has been a FDIC member since 2004 (FDIC Certificate # 57696).
Thanks to the reader who mentioned this special in the daily news and deals post.
Other High Certificate of Deposit Rates
Another good deal in the DC area mentiond by the reader is at Alliance Bank which is still offering a 2.75% APY 18-month CD as of 7/07/09. I last posted on this Alliance CD in June. Refer to the links below for other CD deals around the nation: