EXHIBIT 24
 
                               POWER OF ATTORNEY
 
  Each person whose signature appears below hereby constitutes and appoints
George P. Rutland and Kirk W. Walters, and each of them singly, each person's
true and lawful attorneys, with full power to each such attorney to sign for
such person in such person's name and capacity indicated below, the Annual
Report for the year ended December 31, 1993, filed by Northeast Federal Corp.
with the Securities and Exchange Commission on Form 10-K under the Securities
Exchange Act of 1934, IRS Employer Identification No. 06-1288154, hereby
ratifying and confirming such person's signature as it may be signed by said
attorney to said documents.
 
           SIGNATURE                         TITLE                 DATE
           ---------                         -----                 ---- 
 
   /s/ George P. Rutland           Director                  February 25, 1994 
_______________________________                                      
       George P. Rutland
 

    /s/ Gerald P. Carmen           Director                  February 25, 1994
_______________________________                                     
       Gerald P. Carmen
 

  /s/ David W. Clark, Jr.          Director                  February 25, 1994
_______________________________                                      
      David W. Clark, Jr.
 

 /s/ George J. Fantini, Jr.        Director                  February 25, 1994
_______________________________                                      
    George J. Fantini, Jr.
 

   /s/ Richard H. Gaskill          Director                  February 25, 1994
_______________________________                                      
      Richard H. Gaskill
 

   /s/ Richard H. Gordon           Director                  February 25, 1994
_______________________________                                      
       Richard H. Gordon
 

/s/ Beverly Lannquist Hamilton     Director                  February 25, 1994
_______________________________                                     
  Beverly Lannquist Hamilton
 

  /s/ Barbara C. Lawrence          Director                  February 25, 1994
_______________________________                                      
      Barbara C. Lawrence
 

 /s/ Thomas P. O'Neill, III        Director                  February 25, 1994
_______________________________                                      
    Thomas P. O'Neill, III
 

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             SIGNATURE                           TITLE                    DATE
             ---------                           -----                    ----
                                                             


      /s/ George W. Sarney              Director                   February 25, 1994
- ------------------------------------
          George W. Sarney           
                                    
     /s/ Raymond T. Schuler             Director                   February 25, 1994
- ------------------------------------
         Raymond T. Schuler          
                                    
       /s/ John R. Silber               Director                   February 25, 1994
- ------------------------------------
           John R. Silber            
                                    
       /s/ Kirk W. Walters              Director                   February 25, 1994
- ------------------------------------
          Kirk W. Walters            
                                    
     /s/ Jerome F. Williams             Director                   February 25, 1994
- ------------------------------------
         Jerome F. Williams          
                                    
   /s/ Frederick W. Zuckerman           Director                   February 25, 1994
- ------------------------------------
       Frederick W. Zuckerman         




                                      147