EXHIBIT (12)(A)
                            FIRST UNION CORPORATION
                          COMPUTATIONS OF CONSOLIDATED
                      RATIOS OF EARNINGS TO FIXED CHARGES


                                                                                  YEARS ENDED DECEMBER 31,
(DOLLARS IN THOUSANDS)                                            1995         1994         1993         1992         1991
                                                                                                     
EXCLUDING INTEREST ON DEPOSITS
Pretax income from continuing operations....................   $1,558,664    1,415,456    1,220,781      581,203      419,801
Fixed charges, excluding capitalized interest...............    1,080,776      669,978      517,742      456,867      698,898
(A.) Earnings...............................................   $2,639,440    2,085,434    1,738,523    1,038,070    1,118,699
Interest, excluding interest on deposits....................   $1,032,363      619,698      467,181      405,297      652,393
One-third of rents..........................................       48,413       50,280       50,561       51,570       46,505
Capitalized interest........................................        2,757        1,120          285          381        2,326
(B.) Fixed charges..........................................   $1,083,533      671,098      518,027      457,248      701,224
Consolidated ratios of earnings to fixed charges, excluding
  interest on deposits (A./B.)..............................         2.44X        3.11         3.36         2.27         1.60
INCLUDING INTEREST ON DEPOSITS
Pretax income from continuing operations....................   $1,558,664    1,415,456    1,220,781      581,203      419,801
Fixed charges, excluding capitalized interest...............    3,159,467    2,111,226    1,841,000    2,072,538    2,789,501
(C.) Earnings...............................................   $4,718,131    3,526,682    3,061,781    2,653,741    3,209,302
Interest, including interest on deposits....................   $3,111,054    2,060,946    1,790,439    2,020,968    2,742,996
One-third of rents..........................................       48,413       50,280       50,561       51,570       46,505
Capitalized interest........................................        2,757        1,120          285          381        2,326
(D.) Fixed charges..........................................   $3,162,224    2,112,346    1,841,285    2,072,919    2,791,827
Consolidated ratios of earnings to fixed charges, including
  interest on deposits (C./D.)..............................         1.49X        1.67         1.66         1.28         1.15