Bankers Financial Services LLC in West Des Moines, which specializes in providing market-linked certificate of deposit (CD) programs for banks, has acquired Powered CD Inc. of Lakewood, Colo., and its Index Powered CD program.

More than 120 banks in 17 states participate in the Powered CD program, which pays interest based on the movement on the Standard & Poor’s 500 index.

Terms of the acquisition were not disclosed. Founded in 2001, Bankers Financial Services has more than 150 client financial institutions that use its market-linked CD programs, which provide a tool for banks expand their product offerings and attract new deposits.