Step Up Term Deposits are unique in that they are redeemable on the anniversary date each year.  So, if interest rates rise, you can collapse your existing Step Up Term Deposit on the anniversary date, and take advantage of a higher rate.  The minimum investment is $1,000 on this 3 year term with interest paid annually.  Step Up Term Deposits are available on both registered and non-registered savings products and are insured with the Credit Union Deposit Insurance Corporation.