September 1, 1994

  SUPPLEMENT TO PROSPECTUS DATED DECEMBER 29, 1993 Which Prospectus Has Been
  Previously Amended by Supplements Dated January 1, 1994, February 21, 1994
  and May 1, 1994.
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Effective September 1, 1994, 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 12 of the
prospectus.

      ON THE EFFECTIVE DATE OF THIS SUPPLEMENT THE CIR IS 7.75% ON FIVE-YEAR, 
      8.25% ON THE TEN-YEAR AND 8.50% ON THE TWENTY-YEAR SUBORDINATED CAPITAL
      INVESTMENT CERTIFICATES; 7.75% ON FIVE-YEAR, AND 8.25% ON TEN-YEAR
      SUBORDINATED MONTHLY INCOME CAPITAL INVESTMENT CERTIFICATES; AND 4.75%
      ON DEMAND LOAN CERTIFICATES.