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CU Central of Canada Desjardins Group create investment firm

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TORONTO, Ontario (1/4/08)--Credit Union Central of Canada and the Desjardins Group have created an investment firm to increase the distribution of The Ethical Funds Company and Northwest Mutual Funds products. The firm will have $5.5 billion assets under management. Northwest and Ethical will be 50% owned by the Provincial Credit Union Centrals and 50% by Desjardins. Both organizations will continue to offer products under their corporate brands, and through their partner’s distribution network.

Diebold sells more than 6000 Opteva ATMs in China

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NORTH CANTON, Ohio (1/4/08)--ATM manufacturer Diebold Inc. announced that since July, it has finalized agreements to sell more than 6,000 Opteva ATMs to Chinese banks. The financial institutions include: the Bank of China, Agricultural Bank of China, Postal Savings Bank of China, Industrial and Commercial Bank of China and China Construction Bank. The Industrial and Commercial Bank of China and China Construction bank each ordered more than 2,000 units, according to Diebold (PR Newswire Jan. 3). Bulk cash recycle machines (BCRMs) are a popular choice in the Chinese banking region, the company stated in a press release. BCRMs allow users to make envelope-free cash deposits or withdraw up to 100 bills at once. The machines also validate, denominate, count and deposit currency. Diebold also recently announced that it has signed an agreement with Chinese oil supplier Sinopec Corp. and local commercial banks to deploy ATMs at Sinopec fuel stations in Beijing.

First Advantage purchases Fiservs CredStar

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ST. PETERSBURG, Fla., and BROOKFIELD, Wis. (1/4/08)--First Advantage Corp., a global risk mitigation and business solutions provider, has purchased the assets of CredStar, Fiserv Inc.’s mortgage-credit-reporting business unit. Terms of the agreement were not disclosed (PR Newswire Jan. 3). The purchase expands First Advantage’s presence in the U.S. mortgage credit reporting industry. It already services 19 lenders, according to the company. CredStar is based in Los Angeles and operates satellite offices in Arlington Heights, Ill.; Phoenix; and Philadelphia. It provides credit information solutions to its mortgage lender clients via WebStar, a Web-based platform. Fiserv, a core processor for credit unions and other financial institutions, is based in Brookfield, Wis.