Westsound Bank has a special 6-month Certificate of Deposit with a yield of 4.20% APY. The minimum deposit eligible to earn APY is only $500 ($100 for IRA accounts).

I called customer service and was told a walk in sign up is required for this account, and membership is available only to those who live, work or worship in the state of Washington. I was also informed that the early withdrawal penalty on this CD account is 3 months of interest for terms over 12 months and 30 days for terms of under 12 months.

The main branch is located in Bremerton, about 60 miles south of Seattle. Westsound Bank is federally insured by the FDIC since 1999 (Certificate # 34843).