JULY 15, 1997
SUPPLEMENT TO PROSPECTUS DATED DECEMBER 31, 1996
Effective July 15, 1997, the following sentence is hereby substituted for the
first sentence of the second paragraph of the section entitled "DETERMINATION
OF THE CERTIFICATE INTEREST RATE'' located on page 27 of the prospectus:
On the date of this Prospectus, the CIR is 7.75% on Five-Year and
8.25% on Ten-Year Subordinated Capital Investment Certificates;
7.75% on Five-Year and 8.25% on Ten-Year Subordinated Monthly Income
Capital Investment Certificates; and 6.0% on Demand Loan
Certificates.
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