DENVER – Providing investors "a safe but flexible alternative" in the current rate environment, Bellco Credit Union of Denver is finding its new variable rate product, the "Index Advantage CD" popular with members. The CD has a $1,000 minimum and has 22 and 44 month terms with rates tied to the Two Year Treasury note. In addition to earned interest based on the Treasury note, Bellco provides an additional 1% for 22 month terms and 1.5% for 44-month terms. "Bellco's Index Advantage C is a unique option for people who believe rates will go up and for investors looking for a low-risk investment to add to their portfolio," explained Doug Ferraro, president of the $1.31 billion CU, the city's largest. Since Jan. 1, Bellco said it has received $16 million in the product so far "and $10 million was in the first 45 days," noted Terri Stonebraker, director of customer services. The average investment is $10,933 and so far there have been 1,054 accounts opened, reported Bellco. There have been 770 of the 22-month and 284 of the 44-month. The demographics, said Stonebraker, shows the product is most popular with 54-59 age bracket and those above 60. The product was developed by Bellco staffers at the suggestion of Ferraro who wanted the CU to offer a CD appealing to the investor no longer interested in "taking the risk in the stock market" or in real estate.