CDs are special deposits where you receive a certificate for your funds. These funds normally earn interest that is payable on a definite date in the future or after a specified minimum period of time.

CD interest rate options are:

• Fixed-interest rate—the interest rate throughout the term of the CD will be set at a predetermined rate when the CD is opened.
• Step-up CD*—an interest-earning CD that can be payable after a certain length of time. One time during the original term of the CD, if the bank’s interest rate increases, the customer may increase or "step up" the interest rate on their CD for the remainder of the term of the CD.

*Not offered at all locations.