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Home / Opinion Digests / Federal credit union’s ‘citizenship’ clarified (access required)

Federal credit union’s ‘citizenship’ clarified (access required)

Based on a “straightforward interpretation” of 28 U.S.C. § 1332(c)(1), which governs citizenship of corporations, the credit union is a citizen of Virginia because that is its principal place of business. This analysis was not changed by the fact the credit union was chartered under federal law. Background Navy Federal Credit Union sold a portfolio of debt ...