DRUMMOND FINANCIAL CORP
10-K405, EX-21, 2000-09-28
SHORT-TERM BUSINESS CREDIT INSTITUTIONS
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<PAGE> 34


             SUBSIDIARIES OF DRUMMOND FINANCIAL CORPORATION


<TABLE>
<CAPTION>

                                                          Shareholding
                                 Jurisdiction          at June 30, 2000
Name of Subsidiary              of Incorporation            (Direct)
------------------              ----------------        ---------------
<S>                             <C>                     <C>

CVD Financial Corporation          Washington                  100%
CVD Financial Corporation        British Columbia              100%
Drummond Financial (B.C.) Ltd    British Columbia              100%

</TABLE>




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