PenFed has some July 4th CD specials with competitive rates. They call their CDs “money market certificates”. NCUA-insured (the credit union equivalent of FDIC-insured). The minimum opening deposit is $1,000.
Here are the early withdrawal penalties.
For certificates opened/rolled-over after May 2, 2015, the following penalties apply for certificate redemption prior the maturity.
6-month/182-day certificates: Loss of the most recent 90 days of dividends earned.
12-, 15-, 18-, 24-, 36-, 48-, 60- and 84-month certificates: Within 365 days from the open date of the certificate, the penalty will be the last 365 days of dividends earned. After 365 days from the open date of the certificate have elapsed, the penalty will be 30% of gross amount of dividends that would have been earned if the certificate had reached maturity.
Membership at PenFed is very easy now and open to anyone – you just need to deposit and maintain $5 in your Savings/Share Account.
I have had a PenFed account for over a decade now, they seem to come out with competitive CD rates at least once every few years when they need more deposits. As someone who tries to maintain a CD ladder using the top rates available, this has worked out well for me.