<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Form 10-K
for the year ended December 31, 1994 and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<CIK> 0000217416
<NAME> UNITED COMPANIES FINANCIAL CORPORATION
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-START>                             JAN-01-1994
<PERIOD-END>                               DEC-31-1994
<EXCHANGE-RATE>                                      1
<CASH>                                          57,056
<SECURITIES>                                 1,051,725
<RECEIVABLES>                                  388,099
<ALLOWANCES>                                    17,617
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                          53,905
<DEPRECIATION>                                  23,203
<TOTAL-ASSETS>                               1,982,603
<CURRENT-LIABILITIES>                                0
<BONDS>                                        213,668
<COMMON>                                        28,541
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     126,709
<TOTAL-LIABILITY-AND-EQUITY>                 1,982,603
<SALES>                                              0
<TOTAL-REVENUES>                               359,780
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               255,437
<LOSS-PROVISION>                                13,457
<INTEREST-EXPENSE>                              14,563
<INCOME-PRETAX>                                 76,323
<INCOME-TAX>                                    26,789
<INCOME-CONTINUING>                             49,534
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    49,534
<EPS-PRIMARY>                                     3.48
<EPS-DILUTED>                                     3.48