BOSTON -- The turmoil on Wall Street and across the nation’s economic system has consumers searching for safe places to invest their money.

That’s why an advertisement in the Boston Globe, which promises a 5 percent return on a three-month certificate of deposit is catching so many people’s attention, including that of state officials.

According to bankrate.com, the average return on a CD currently in Massachusetts is 1.7 percent, approximately a third of what Interstate First Financial of Massachusetts claims to offer.

The fine print in its newspaper ad indicates a $10,000 minimum. But Massachusetts Secretary of State William Galvin is concerned about what consumers may think when they see the FDIC logo in large print.

“When they see an ad that appears to offer them a very high interest rate and it has an FDIC logo on it. That's providing some indication of certainty or insurance, and that does not appear to be the case with this company,” Galvin told Team 5 Investigates' Janet Wu Monday.

Incorporation documents show Interstate First Financial of Massachusetts registered with the state two months ago.

The company has offices in three locations, Burlington, Newton and Hingham. Agents at the offices in Burlington and Newton would not speak to NewsCenter 5 on camera.

While its Web site touts Interstate First Financial as a safe money specialist and high CD yields, on its incorporation papers, it is not a bank, but an insurance company.

“It's pretty obvious this company which was just organized here in Massachusetts just months ago is designed to be a multi-level marketing effort to sell insurance policies,” said Galvin.

In fact, a letter obtained by Team 5 Investigates shows that AmeriLife Group LLC, of Florida, which is the parent company of Interstate First Financial, was warned just last month by the FDIC that, “The prominent use of the FDIC logo is misleading to consumers, who fail to or can not notice and read the small print in the advertisement."

AmerLife Group LLC’s response to the FDIC stated that while it “does not agree with its conclusion, Interstate will discontinue the use of the registered FDIC logo.”

The company’s ad in today’s Boston Globe shows the letters FDIC in large print, but AmeriLife’s general counsel, Nathan Hightower, told us in a telephone conversation that the new FDIC lettering is not the official logo, that the color and shading and general design are different.

“The fact that they still have it in their ad in any fashion suggests they are trying to use the credibility of the FDIC to lure people to this company,” said Galvin. “They should be honest, they're trying to sell insurance policies.”

Hightower doesn't disagree. In fact he told NewsCenter 5 the company’s sales people are using the CDs as a marketing tool, a loss leader, and that the bank through which Interstate is buying the CDs is FDIC insured.

The ultimate goal, Hightower told NewsCenter 5, is that, “We're hoping there will be a potential customer for our insurance products."

AmeriLife Group LLC said people who buy CDs through them are under no obligation to purchase other products.

The Massachusetts Division of Banks told Team 5 Investigates it also finds the ads troubling. They recommend anyone looking for a CD to go to a local bank.