Certificates

Certificates of deposit (CDs) are available daily with terms ranging from 30-days to five-years. Dividends can be paid monthly, at maturity, or semi-annually.

From time-to-time, we will make CD specials available with particularly attractive terms and yields given the market conditions.

Amortizing certificate programs (ACP) are fixed-rate amortizing certificates that offer yields competitive with mortgage-backed securities. ACP investments reduce extension and market risk that is associated with mortgage-backed products.

Callable certificates get their name because Corporate Central has the option to "call" or pay back certificates prior to maturity, according to a schedule that is predetermined and disclosed up front. These investment alternatives often times yield higher than regular certificates with the same maturity.

The one way floater floats quarterly at a fixed spread to the three-month LIBOR (London inter-bank offering rate). The floater has an interim cap which may limit the increase in its rate for the quarter; however, it has a floor equal to the current coupon, ensuring the rate will not decrease.

Step-up certificates offer a fixed-rate for a predetermined period of time. Once that period of time expires, the certificate is either called or it steps-up to a higher rate that was predetermined.