Exhibit (12)(a)
FIRST UNION CORPORATION
COMPUTATIONS OF CONSOLIDATED
RATIOS OF EARNINGS TO FIXED CHARGES








                                                Three
                                                Months
                                                Ended                      Years Ended December 31,
                                               March 31,
(Dollars in thousands)                           1994          1993         1992        1991        1990        1989

                                                                                              
EXCLUDING INTEREST ON DEPOSITS:

Pretax income from continuing operations        $342,460        1,220,781    581,203     419,801     327,360     441,663
Fixed charges, excluding capitalized
 interest                                        129,991          517,742    456,867     698,898     982,086     890,200

(A.) Earnings                                   $472,451        1,738,523  1,038,070   1,118,699   1,309,446   1,331,863

Interest, excluding interest on
 deposits                                       $117,319          467,181    405,297     652,393     949,046     865,413
One-third of rents                                12,672           50,561     51,570      46,505      33,040      24,787
Capitalized interest                                 142              285        381       2,326       3,144       2,507

(B.) Fixed charges                              $130,133          518,027    457,248     701,224     985,230     892,707

Consolidated ratios of earnings to
 fixed charges, excluding interest on
 deposits (A./B.)                                   3.63X            3.36       2.27        1.60        1.33        1.49


INCLUDING INTEREST ON DEPOSITS:

Pretax income from continuing operations        $342,460        1,220,781    581,203     419,801     327,360     441,663
Fixed charges, excluding capitalized
 interest                                        448,675        1,841,000  2,072,538   2,789,501   3,127,374   2,728,410

(C.) Earnings                                   $791,135        3,061,781  2,653,741   3,209,302   3,454,734   3,170,073

Interest, including interest on
 deposits                                       $436,003        1,790,439  2,020,968   2,742,996   3,094,334   2,703,623
One-third of rents                                12,672           50,561     51,570      46,505      33,040      24,787
Capitalized interest                                 142              285        381       2,326       3,144       2,507

(D.) Fixed charges                              $448,817        1,841,285  2,072,919   2,791,827   3,130,518   2,730,917

Consolidated ratios of earnings to
 fixed charges, including interest on
 deposits (C./D.)                                   1.76X            1.66       1.28        1.15        1.10        1.16