EXHIBIT (12)(C)
                            FIRST UNION CORPORATION
                         FIRST FIDELITY BANCORPORATION
                     COMBINED 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....................   $2,218,601    2,087,887    1,795,265      977,302      699,815
Fixed charges, excluding capitalized interest...............    1,266,255      816,102      607,462      569,638      866,728
(A.) Earnings...............................................   $3,484,856    2,903,989    2,402,727    1,546,940    1,566,543
Interest, excluding interest on deposits....................   $1,198,487      746,938      537,964      501,556      803,787
One-third of rents..........................................       67,768       69,164       69,498       68,082       62,941
Capitalized interest........................................        2,757        1,120          285          381        2,326
(B.) Fixed charges..........................................   $1,269,012      817,222      607,747      570,019      869,054
Consolidated ratios of earnings to fixed charges, excluding
  interest on deposits (A./B.)..............................         2.75X        3.55         3.95         2.71         1.80
INCLUDING INTEREST ON DEPOSITS
Pretax income from continuing operations....................   $2,218,601    2,087,887    1,795,265      977,302      699,815
Fixed charges, excluding capitalized interest...............    4,119,583    2,862,146    2,551,450    3,009,762    4,133,826
(C.) Earnings...............................................   $6,338,184    4,950,033    4,346,715    3,987,064    4,833,641
Interest, including interest on deposits....................   $4,051,815    2,792,982    2,481,952    2,941,680    4,070,885
One-third of rents..........................................       67,768       69,164       69,498       68,082       62,941
Capitalized interest........................................        2,757        1,120          285          381        2,326
(D.) Fixed charges..........................................   $4,122,340    2,863,266    2,551,735    3,010,143    4,136,152
Consolidated ratios of earnings to fixed charges, including
  interest on deposits (C./D.)..............................         1.54X        1.73         1.70         1.32         1.17