HORRIGAN AMERICAN INC
424B3, 1994-10-03
PERSONAL CREDIT INSTITUTIONS
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                           HORRIGAN AMERICAN, INC.


                      Supplement dated October 1, 1994
                                       ---------------
                     to Prospectus dated April 29, 1994.


         The rates of interest on 1994 Series 8, A, B and C Certificates
    issued from October 1, 1994 through October 31, 1994 will be as follows:
                ---------------         ----------------
       

               Series 8               8 years               7.40%
                                                            -----

               Series A               6 years               6.40%
                                                            -----

               Series B              30 months              6.20%
                                                            -----

               Series C               1 year                5.60%
                                                            -----

         The rate of interest payable from October 1, 1994 through
                                           ---------------
    October 31, 1994 on the Passbook Series Certificates is 4.00%.
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