Recognizing the differences between state-chartered and federally chartered credit unions remains important in acknowledging our credit union dual chartering system. In an effort to be sure that Credit Union Times is as accurate as possible, I offer the following note of clarification: I can state with assurance, state regulators have never filed 990s for federal credit unions, as Mike Welch stated in his publisher's column of August 11, 2004, as follows: "At one time all FCUs did have to file 990s. Usually, that was done on a group basis by the appropriate state or federal regulator." State credit unions are still required to file an IRS 990 with the IRS. This filing is accomplished in a variety of ways: the state credit union itself, the state leagues or the state regulator. Thank you for the opportunity to correct the record. Mary Martha Fortney President and CEO NASCUS Arlington, Va.