1.5% APY 10-Month CD At Luther Burbank Savings In Beverly Hills, CA

Apologies if this is a stupid question but is this CD FDIC insured? There is a notice on their home page stating they have chosen NOT to participate in the FDIC's Transaction Account Guarantee Program and - Customers with noninterest-bearing transactions accounts will be FDIC insured up to $250,000. Since this product IS interest bearing does it mean the funds are not FDIC insured?  Thank you and I look forward to your reply.