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FORM 3 U.S. SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
WASHINGTON, D.C. 20549 _________________________
OMB NUMBER 3235-0104
EXPIRES: FEBRUARY 1, 1994
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE... 0.5
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of
1935 or Section 30(f) of the Investment Company Act of 1940
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<S> <C> <C> <C>
1. Name and Address of Reporting Person 2. Date of Event Re- 4. Issuer Name and Ticker or Trading Symbol
quiring Statement
CARDER, Stephen J. (Month/Day/Year) Champion Financial Corporation
________________________________________
01/14/97 CPFC
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(Last) (First) (Middle) 5. Relationship of Reporting Person to Issuer 6. If Amendment,
(Check all applicable) Date of Original
(Month/Day/Year)
9495 East San Salvadore Drive
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(Street) 3. IRS or Social Se- X Director X 10% Owner
curity Number of X Officer (give Other (specify
Reporting Person title below) below)
(Voluntary)
Executive Vice President and CFO
__________________________________________________________________________________________________________________________________
Scottsdale, Arizona 85258
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(City) (State) (Zip)
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TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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<S> <C> <C> <C>
1. Title of Security 2. Amount of Securities 3. Ownership 4. Nature of Indirect Beneficial Ownership
(Instr. 4) Beneficially Owned Form: Direct (Instr. 5)
(Instr. 4) (D) or Indirect
(I) (Instr. 5)
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Common Stock, par value $.001 1,100,000 D
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Common Stock, par value $.001 1,500,000 I Pursuant to an Irrevocable Proxy
executed by Risk Solution Group, a
Maryland partnership and a shareholder
of Issuer, Reporting Person has shared
voting control with Paul F. Caliendo.
Reporting person disclaims any pecuniary
interest in these shares.
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__________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
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FORM 3 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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________________________________________________________________________________
<S> <C> <C>
1. Title of Derivative 2. Date Exercisable 3. Title and Amount
Security (Instr. 4) and Expiration of Securities
Date Underlying
(Month/Day/Year) Derivative Security
(Instr. 4)
__________________________________________________________________________________
Date Exer- Expira- Title Amount or Number
cisable tion Date of Shares
__________________________________________________________________________________
Not Applicable
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
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4. Conversion or 5. Ownership Form of 6. Nature of Indirect
Exercise Price of Derivative Security: Beneficial Ownership
Derivative Security Direct (D) or Indirect (Instr. 5)
(I) (Instr. 5)
__________________________________________________________________________________
Not applicable
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
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Explanation of Responses:
/s/ STEPHEN J. CARDER
__________________________________________
**Signature of Reporting Person Date
Stephen J. Carder
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See Instruction 6 for procedure.
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