ASSOCIATES FIRST CAPITAL CORP
424B3, 1994-09-30
PERSONAL CREDIT INSTITUTIONS
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<CAPTION>
                                                                                   Effective Annual Yield if
                                                                                   Interest Compounded 
                                                                                   Quarterly
                                                  Interest Rate                    and Paid Annually 
                      Note Maturity               Per Annum                        or at Maturity
                      ------------                -------------                    -------------------------
<S>                  <C>                          <C>                               <C>.
                      1 Year                       6.10%                             6.24%
SUPPLEMENT            2 Years                      7.00%                             7.19%
Dated                 3 Years                      7.40%                             7.61%
September 29, 1994    4 Years                      7.65%                             7.87%
                      5 Years                      7.90%                             8.14%          
                     

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                         $1,000 MINIMUM PURCHASE
                                           
                          ------------------------  

   The Notes are prepayable at the option of the party 
entitled to receive the proceeds of the Note under certain 
circumstances.  See  "Description of Notes -- Prepayment."



FINANCIAL INFORMATION AS OF JUNE 30, 1994

The following summary of certain consolidated financial
information supplements the corresponding information 
set forth on Page S-2 and is principally derived from the 
Company's Annual Report on Form 10-K for the year ended 
December 31, 1993 and its Quarterly  Report on Form 10-Q 
for the six months ended June 30, 1994 to which reference 
should be made for the detailed information and financial 
information contained therein (Dollar Amounts in Millions).

   
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<CAPTION>                                                        

                                Year Ended            Six Months Ended
                                 or at                  or at June 30   
                               December 31,         1993           1994
                                 1993                    (Unaudited)    
                                                  
       
<S>                              <C>                 <C>           <C>
Revenue                          $ 3,705.6           $  1,783.4    $ 2,063.3
Earnings Before Provision for 
  Income Taxes                   $   751.8           $    350.1    $   403.4
Net Earnings                     $   470.1           $    221.8    $   248.9
Finance Receivables (net of 
  unearned finance income 
and allowance for losses)        $25,555.9           $ 23,376.5    $27,537.0
Stockholder's Equity             $ 2,506.4           $  2,174.0    $ 2,617.8
Ratio of Earnings to Fixed Charges    1.56                1.53          1.56

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