SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q



[X]       QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2003, OR

[ ]       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______ TO _______


                         Commission File Number: 0-2616



                         CONSUMERS FINANCIAL CORPORATION
             (Exact name of registrant as specified in its charter)


         Pennsylvania                                        23-1666392
(State or other jurisdiction of                           (I.R.S. Employer
 incorporation or organization)                         Identification No.)


    1525 Cedar Cliff Drive, Camp Hill, PA                      17011
(Address of principal executive offices)                     (Zip Code)


                                  717-730-6306
               (Registrants telephone number, including area code)



     Indicate  by  check  mark  whether the registrant (1) has filed all reports
required  to  be  filed by Section 13 or 15(d) of the Securities Exchange Act of
1934  during  the  preceding  12  months  (or  for  such shorter period that the
registrant  was  required  to  file  such  reports), and (2) has been subject to
filing  such  requirements  for  the  past  90  days.

                                Yes    X         No
                                      ---             ---


     Indicate  the  number of shares outstanding of each of the issuer's classes
of  common  stock,  as  of  the  latest  practicable  date.

                                                            Outstanding at
     Class of Common Stock                                   May 10, 2003
     ---------------------                                   ------------
      $.01  Stated  Value                                  5,276,781 shares


<PAGE>
                 CONSUMERS FINANCIAL CORPORATION AND SUBSIDIARY
                                TABLE OF CONTENTS



NUMBER                                                                   PAGE
------                                                                   ----

             PART  I.  FINANCIAL  INFORMATION
             --------------------------------

Item  1.     Consolidated Financial Statements:

             Balance Sheets - March 31, 2003 and December 31, 2002       3

             Statements of Operations and Comprehensive Loss - For the
               Three Months Ended March 31, 2003 and 2002                4

             Statements of Cash Flows - For the Three Months Ended
               March 31, 2003 and 2002                                   5

             Notes to Consolidated Financial Statements                  6 - 10

Item  2.     Management's Discussion and Analysis of Financial Condition
             and  Results  of  Operations                                11 - 14

Item  3.     Quantitative and Qualitative Disclosure About Market Risk   15

Item  4.     Controls  and  Procedures                                   15


             PART  II.  OTHER  INFORMATION
             -----------------------------

Item  1.     Legal  Proceedings                                          16

Item  2.     Changes  in  Securities                                     16

Item  3.     Defaults  upon  Senior  Securities                          16

Item  4.     Submission of Matters to a Vote of Security Holders         16

Item  5.     Other  Information                                          16

Item  6.     Exhibits  and  Reports  on  Form  8-K                       17


             CERTIFICATIONS
             --------------

Pursuant  to  Section  302  of  Sarbanes-Oxley  Act                      19 - 20

Pursuant  to  Section  906  of  Sarbanes-Oxley  Act                      21 - 22


Consumers Financial Corporation                                           Page 2
Form 10-Q                                                         March 31, 2003


<PAGE>
<TABLE>
<CAPTION>
                          PART I. FINANCIAL INFORMATION


ITEM  1.     CONSOLIDATED  FINANCIAL  STATEMENTS

                     CONSUMERS FINANCIAL CORPORATION AND SUBSIDIARY
                               CONSOLIDATED BALANCE SHEETS

                                                                      MARCH  31,   DECEMBER 31,
                                                                        2003           2002
===============================================================================================
<S>                                                                <C>             <C>
                                                                     (Unaudited)   (See Note 2)
ASSETS

Current assets:
  Cash and cash equivalents                                        $      57,411   $   165,758
  Prepaid expenses                                                        29,420        30,420
-----------------------------------------------------------------------------------------------
          Total current assets                                            86,831       196,178

Furniture and equipment, net of accumulated depreciation                   2,782
Restricted cash held in escrow account                                   314,945       314,225
Prepaid insurance                                                         75,585        87,363
-----------------------------------------------------------------------------------------------

          Total assets                                             $     480,143   $   597,766
===============================================================================================

LIABILITIES, REDEEMABLE PREFERRED STOCK AND
       SHAREHOLDERS' EQUITY DEFICIENCY

Current liabilities:
     Accounts payable                                              $      40,314   $    32,168
     Other                                                                21,659        22,134
-----------------------------------------------------------------------------------------------

          Total current liabilities                                       61,973        54,302
-----------------------------------------------------------------------------------------------

Redeemable preferred stock:
   Series A, 8 1/2% cumulative convertible, authorized 632,500
   shares; issued  and outstanding, 75,326 shares; redemption
   amount  $753,260                                                      740,688       739,949
-----------------------------------------------------------------------------------------------

Shareholders' equity deficiency:
   Common stock, $.01 stated value, authorized 10,000,000
      shares; issued and outstanding 5,276,781 shares                     52,768        52,768
   Capital in excess of stated value                                   8,938,865     8,938,865
   Deficit                                                            (9,314,151)   (9,188,118)
-----------------------------------------------------------------------------------------------

          Total shareholders' equity deficiency                         (322,518)     (196,485)
-----------------------------------------------------------------------------------------------


          Total liabilities, redeemable preferred stock and
               Shareholders' equity deficiency                     $     480,143   $   597,766
===============================================================================================

                          See Notes to Consolidated Financial Statements
</TABLE>


Consumers Financial Corporation                                           Page 3
Form 10-Q                                                         March 31, 2003


<PAGE>
<TABLE>
<CAPTION>
                       CONSUMERS FINANCIAL CORPORATION AND SUBSIDIARY
                CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
                                        (UNAUDITED)

                                                        THREE  MONTHS      THREE  MONTHS
                                                            ENDED             ENDED
                                                        MARCH 31, 2003    MARCH 31, 2002
=========================================================================================
                                                                          (See Note 2)
<S>                                                    <C>               <C>

Non-operating revenues:
  Net investment income                                $           888   $        19,638
  Miscellaneous                                                     29            15,803
-----------------------------------------------------------------------------------------
                                                                   917            35,441
-----------------------------------------------------------------------------------------

Non-operating expenses:
  Salaries and employee benefits                                23,822            43,616
  Professional fees                                             42,640            39,844
  Other fees                                                     7,541             8,264
  Insurance                                                     11,779            12,506
  Taxes, other than income                                       3,058             7,635
  Provision for loss on loan receivable                         27,500
  Miscellaneous                                                  9,871            18,673
-----------------------------------------------------------------------------------------
                                                               126,211           130,538
-----------------------------------------------------------------------------------------
Loss before income taxes                                      (125,294)          (95,097)

Income taxes                                                        --                --
-----------------------------------------------------------------------------------------
Net loss                                                      (125,294)          (95,097)

Other comprehensive loss, change in
     unrealized appreciation of debt securities                                  (14,955)
-----------------------------------------------------------------------------------------

Comprehensive loss                                           ($125,294)        ($110,052)
=========================================================================================

Per share data:
  Basic and diluted loss per common share                       ($0.03)           ($0.08)

  Weighted average number of common
     shares outstanding                                      5,276,781         2,576,781
-----------------------------------------------------------------------------------------

  Cash dividends declared per common share                        None              None
=========================================================================================

                 See Notes to Consolidated Financial Statements
</TABLE>


Consumers Financial Corporation                                           Page 4
Form 10-Q                                                         March 31, 2003


<PAGE>
<TABLE>
<CAPTION>
                 CONSUMERS FINANCIAL CORPORATION AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (UNAUDITED)


                                                           THREE MONTHS       THREE MONTHS
                                                               ENDED             ENDED
                                                           MARCH 31, 2003    MARCH 31, 2002
============================================================================================
                                                                             (See Note 2)
<S>                                                       <C>               <C>

Cash flows from operating activities:

     Net loss                                                   ($125,294)         ($95,097)
--------------------------------------------------------------------------------------------

     Adjustments to reconcile net loss to cash
       flows used in operating activities:
             Provision for loss on loan receivable                 27,500
             Change in receivables                                                  (13,524)
             Change in prepaid expenses                            12,778           (37,176)
             Change in other liabilities                            7,671            15,255
             Other                                                   (556)             (353)
--------------------------------------------------------------------------------------------
             Total adjustments                                     47,393           (35,798)
--------------------------------------------------------------------------------------------

     Net cash used in operating activities                        (77,901)         (130,895)
--------------------------------------------------------------------------------------------

Cash flows from investing activities:
     Repayment of mortgage loan                                                       4,114
     Loan to majority shareholder                                 (27,500)
     Purchase of furniture and equipment                           (2,946)
--------------------------------------------------------------------------------------------
     Net cash provided by (used in) investing activities          (30,446)            4,114
============================================================================================

Cash flows from financing activities:
     Option agreement deposit                                                       108,000
     Cash dividends to preferred shareholders'                                      (96,180)
--------------------------------------------------------------------------------------------

     Net cash provided by financing activities                         --            11,820
--------------------------------------------------------------------------------------------

Net decrease in cash                                             (108,347)         (114,961)

Cash and cash equivalents at beginning of period                  165,758         1,802,265

--------------------------------------------------------------------------------------------

Cash and cash equivalents at end of period                $        57,411   $     1,687,304
============================================================================================

                 See Notes to Consolidated Financial Statements
</TABLE>


Consumers Financial Corporation                                           Page 5
Form 10-Q                                                         March 31, 2003


<PAGE>
                 CONSUMERS FINANCIAL CORPORATION AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                   THREE MONTHS ENDED MARCH 31, 2003 AND 2002
                                   (UNAUDITED)


1.   OVERVIEW  AND  BASIS  OF  PRESENTATION:

     Since  1998,  the  Company has had no business operations, and its revenues
and expenses have consisted principally of investment income on remaining assets
and  corporate  and  other administrative expenses. In March 1998, the Company's
shareholders' approved  a  Plan  of  Liquidation  and  Dissolution  (the Plan of
Liquidation)  pursuant  to  which  the  Company  began liquidating its remaining
assets  and paying or providing for all of its liabilities. However, in February
2002,  the  Company  entered into an option agreement with CFC Partners, Ltd., a
New  York  investor  group  (CFC Partners), pursuant to which CFC Partners could
obtain  a  majority  interest in the Company's common stock. In August 2002, the
option was exercised and 2,700,000 new common shares (approximately 51.2% of the
total  outstanding  shares)  were  issued  by  the Company to CFC Partners. As a
result  of  the  acquisition  of  the  Company,  the  Plan  of  Liquidation  was
discontinued.  Immediately  prior  to  the  transaction  with  CFC Partners, the
Company  paid  a  substantial  portion  of its remaining assets to its preferred
shareholders  in  connection with a tender offer to those shareholders (see Note
8).

     The  accompanying  consolidated  financial  statements  have  been prepared
assuming that the Company will continue as a going concern. However, as a result
of  the  cumulative effect of the events discussed above, at March 31, 2003, the
Company had only $57,411 in cash and cash equivalents and a shareholders' equity
deficiency  of  $322,518.  Furthermore,  as  of  that  date,  the Company had no
business  operations  and  no  sources  of  operating  revenues. CFC Partners is
currently  pursuing  various  business  opportunities for the Company, including
strategic alliances, as well as the merger or combination of existing businesses
with  the  Company.  The  new management of the Company is initially focusing on
joint  ventures  with  or  acquisitions  of  companies  in  the  real  estate,
construction  management and medical technology businesses. However, there is no
assurance  that  the  Company's  efforts  in  this  regard  will  be successful.

     The  Company's  ability  to continue as a going concern is dependent on its
success  in  developing new cash revenue sources or, alternatively, in obtaining
short-term  financing  while  its  new  businesses  are  being  developed.  The
consolidated  financial  statements  do  not  include any adjustments that might
result  from  the  outcome  of  this  uncertainty.

     The  consolidated  financial  statements  include the accounts of Consumers
Financial  Corporation  and  its  former wholly-owned subsidiary, Consumers Life
Insurance  Company  (Consumers Life) until June 19, 2002 when Consumers Life was
sold.

     In  the  opinion  of  management,  the  accompanying unaudited consolidated
financial  statements  contain  all  adjustments  (consisting  only  of  normal
recurring items) necessary to present fairly the Company's financial position as
of  March  31, 2003 and the results of its operations and its cash flows for the
three  months  ended  March  31,  2003  and  2002.

     Certain information and footnote disclosures normally included in financial
statements  prepared in accordance with generally accepted accounting principles
have  been  condensed  or  omitted. These financial statements should be read in
conjunction  with  the  financial  statements  and notes thereto included in the
Company's  2002  Form  10-K.

     The results of operations for the three months ended March 31, 2003 are not
necessarily  indicative  of  the  results  to  be  expected  for  the full year.


Consumers Financial Corporation                                           Page 6
Form 10-Q                                                         March 31, 2003


<PAGE>
                 CONSUMERS FINANCIAL CORPORATION AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                   THREE MONTHS ENDED MARCH 31, 2003 AND 2002
                                  (UNAUDITED)


2.   RESTATEMENT  OF  FINANCIAL  STATEMENTS:

     In connection with the acquisition of the Company by CFC Partners on August
28,  2002  and  the  related termination of the Plan of Liquidation, the Company
re-adopted accounting principles applicable to going-concern entities as of that
date.  The Company's consolidated financial statements had been prepared using a
liquidation  basis  of  accounting  since  March  25,  1998  when  the  Plan  of
Liquidation  was  approved  by  the  Company's shareholders. In order to provide
comparative  financial  information,  the  Company  has  restated  its
liquidation-basis  financial  statements  for  prior  periods  to conform to the
current  presentation  which  utilizes  accounting  principles  applicable  to
going-concern  entities. Accordingly, in the accompanying consolidated financial
statements,  the Statement of Changes in Net Assets in Liquidation for the three
months  ended  March  31, 2002, as originally prepared on a liquidation basis of
accounting,  has  been  replaced by a Statement of Operations and a Statement of
Cash  Flows.

     For  the three months ended March 31, 2002, the Company originally reported
an  excess  of  expenses  over  revenues  of  $95,097.

3.   ACQUISITION  OF  THE  COMPANY:

     On  August 28, 2002, CFC Partners exercised its option to acquire 2,700,000
shares  of  the  Company's  common stock. The option was granted to CFC Partners
through  an  option  agreement  dated  February  13,  2002.  The option price of
$108,000  had  previously  been deposited by CFC Partners into an escrow account
held  by  the  Company. The newly issued shares represent approximately 51.2% of
the  outstanding  common  stock  of  the  Company.

     In  connection  with  the  issuance  of the new shares to CFC Partners, the
Board  of  Directors  also  terminated  the  Plan  of Liquidation. The Board had
previously  determined  that  selling  the  Company  for  its value as a "public
company  shell"  was  a better alternative for the shareholders than the Plan of
Liquidation,  inasmuch  as  the common shareholders were not expected to receive
any  distribution  in  a  liquidation of the Company. The preferred shareholders
were  given  an  opportunity to exchange their shares for cash in a tender offer
completed  by  the  Company  on  August  23,  2002  (see  Note  8).

     The  new  management  of the Company is currently pursuing various business
opportunities  for  the Company. Managements efforts have initially been focused
on  joint  ventures  with  or  acquisitions  of  companies  in  the real estate,
construction  management  and  medical  technology  businesses.

     With  respect  to  the  real  estate  business, in April 2003, CFC Partners
entered  into  agreements  to acquire a garden apartment complex in Springfield,
Illinois and a high-rise residential building in Chicago, Illinois. CFC Partners
intends  to  assign  all of its rights and obligations under these agreements to
the  Company.  The  Company  is  also  negotiating  the  acquisition  of several
additional garden apartment complexes in other locations and is negotiating with
a  town  in  Long  Island,  New  York  to  acquire  property  for the purpose of
developing  condominiums  and  townhouses.

     In  connection  with  its  construction  management  business,  the Company
intends  to  manage  all  of  its  real estate development and other real estate
activities  and  will  selectively  pursue the management of outside projects as
well.


Consumers Financial Corporation                                           Page 7
Form 10-Q                                                         March 31, 2003


<PAGE>
                 CONSUMERS FINANCIAL CORPORATION AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                   THREE MONTHS ENDED MARCH 31, 2003 AND 2002
                                  (UNAUDITED)


3.   ACQUISITION  OF  THE  COMPANY  (CONTINUED):

     With regard to the medical technology business, in April 2003, CFC Partners
entered  into  a  letter  of  intent  with a leading radiologist and operator of
several radiology centers in the metropolitan New York area to purchase, develop
and operate positron emission tomography (PET) imaging centers, initially in the
New  York  area.  CFC  Partners  also  intends  to  assign all of its rights and
obligations  in  this  joint  venture  to  the  Company.

4.   LOAN RECEIVABLE

     During  the  three  months  ended March 31, 2003, the Company made payments
totaling  $27,500  to certain individuals who had previously loaned funds to CFC
Partners  so  that  CFC  Partners  could  purchase  its majority interest in the
Company's  common stock. Since any obligation to repay these individuals, one of
whom is a director of the Company, is the responsibility of CFC Partners and not
the  Company,  CFC  Partners  has  agreed  to  repay this amount to the Company.
However,  because  CFC  Partners  currently  has  no ability to repay the amount
borrowed,  this  loan  has  been  fully  reserved  in the Company's consolidated
financial  statements  through  a  charge  to  non-operating  expenses.

5.   RESTRICTED ASSETS

     As  required  by  the  terms of the option agreement with CFC Partners, the
Company deposited $331,434 (representing the tender price of $4.40 multiplied by
the  75,326  shares  of preferred stock not tendered) into a bank escrow account
for  the  benefit  of  the  remaining preferred shareholders.  The funds in this
account, including any earnings thereon, are restricted in that they may only be
used  by  the  Company  to  pay  dividends  or  make  other distributions to the
preferred  shareholders.  At  March 31, 2003 and December 31, 2002, these assets
consisted  entirely  of  money  market  funds.

6.   INCOME TAXES:

     The Company follows the asset and liability method of accounting for income
taxes. Under this method, deferred tax assets and liabilities are recognized for
the  future  tax  consequences  attributable  to  differences  between financial
statement  carrying  amounts  of  existing  assets  and  liabilities  and  their
respective  tax  bases.  Valuation  allowances are established, if necessary, to
reduce the deferred income tax asset account to the amount that will more likely
than  not  be  realized.

     At  March  31,  2003 and December 31, 2002, the Company's only deferred tax
assets  consisted  of (i) $67,995 and $2,038,000, respectively, arising from net
operating  loss  carry  forwards and (ii) $4,457,000 arising from a capital loss
carry  forward which results from the sale of the stock of Consumers Life. These
deferred  tax  assets  have  been  fully  offset  by  a valuation allowance. The
Company's deferred tax assets at March 31, 2003 do not include any net operating
losses  generated  by Consumers Life since that subsidiary was sold in June 2002
and  its prior losses are no longer available to offset future taxable income of
the  Company.  At  March  31,  2003  and  December  31, 2002, the Company had no
material  deferred  tax  liabilities.

     No  provision  for income taxes has been made in the consolidated financial
statements because of the above referenced operating loss and capital loss carry
forwards,  which  have  been  fully  offset  by  a  valuation  allowance.


Consumers Financial Corporation                                           Page 8
Form 10-Q                                                         March 31, 2003


<PAGE>
                 CONSUMERS FINANCIAL CORPORATION AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                   THREE MONTHS ENDED MARCH 31, 2003 AND 2002
                                  (UNAUDITED)


7.   CONTINGENCIES:

     Certain  claims  have  been  filed  against  the Company. In the opinion of
management,  based  on  opinions  of legal counsel, adequate reserves, if deemed
necessary,  have  been established for these matters, and their outcome will not
have a significant effect on the financial condition or future operating results
of  the  Company.

8.   REDEEMABLE PREFERRED STOCK:

     On  August  23,  2002,  the  Company completed a tender offer to all of its
preferred  shareholders,  pursuant  to  which  it  purchased  377,288  shares
(approximately  83.4% of the shares outstanding) at $4.40 per share plus accrued
dividends.  The  tender  offer  was  completed  in  conjunction  with  and was a
condition  to  the  exercise  of  the  option by CFC Partners.  Since all of the
Company's  remaining  assets  would  have  been  distributed  to  the  preferred
shareholders if the Company had been liquidated, the Board of Directors believed
that  the  exercise  of  the  option (and the related termination of the Plan of
Liquidation)  should  not  take  place until the preferred shareholders had been
given  a  chance  to  exchange  their  shares  for  cash.

     The  terms  of  the  redeemable preferred stock require the Company to make
annual  payments to a sinking fund. Such payments were to have commenced on July
1,  1998.  The preferred stock terms also provide that any purchase of preferred
shares  by  the  Company  will reduce the sinking fund requirements by an amount
equal  to  the  redemption  value  ($10  per share) of the shares acquired. As a
result  of  the Company's purchases of preferred stock in the open market and in
the  tender  offer  described  above,  no sinking fund payment for the preferred
stock is due until July 1, 2006. However, in connection with the exercise of the
option by CFC Partners, the Company deposited $331,434 into a bank trust account
for  the  benefit  of  the  remaining  preferred  shareholders  (see  Note  5).

     Dividends  at  an  annual  rate  of  $.85 per share are cumulative from the
original  issue date of the preferred stock.  Dividends are payable quarterly on
the  first  day  of  January, April, July and October.  The dividends payable on
January 1 and April 1, 2003 have not been declared or paid by the Company.  When
the Company is in arrears as to dividends or sinking fund appropriations for the
preferred  stock,  dividends to holders of the Company's common stock as well as
purchases, redemptions or acquisitions by the Company of shares of the Company's
common  stock  are  restricted. If the Company is in default with respect to the
payment  of  preferred  dividends  and the aggregate amount of the deficiency is
equal  to  four quarterly dividends, the holders of the preferred stock shall be
entitled,  only  while such arrearage exists, to elect two additional members to
the  then  existing  Board  of  Directors.

     The difference between the fair value of the preferred stock at the date of
issue  and  the  mandatory  redemption  value is being recorded through periodic
accretions  with  an  offsetting charge to the deficit.  Such accretions totaled
$739  and  $4,444  in  the  first  quarter  of  2003  and  2002,  respectively.


Consumers Financial Corporation                                           Page 9
Form 10-Q                                                         March 31, 2003


<PAGE>
                 CONSUMERS FINANCIAL CORPORATION AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                   THREE MONTHS ENDED MARCH 31, 2003 AND 2002
                                  (UNAUDITED)


9.   PER SHARE INFORMATION:

<TABLE>
<CAPTION>
                                                       THREE          THREE
                                                       MONTHS        MONTHS
                                                       ENDED          ENDED
                                                     MARCH 31,      MARCH 31,
                                                       2003           2002
-------------------------------------------------------------------------------
<S>                                                <C>            <C>

Net loss                                              ($125,294)      ($95,097)

Preferred stock dividend requirement                    (16,007)       (96,180)

Accretion of carrying value of  preferred stock            (739)        (4,444)
-------------------------------------------------------------------------------

Numerator for basic loss per share - income
  (loss) attributable to common shareholders           (142,040)      (195,721)

Effect of dilutive securities                                 0              0
-------------------------------------------------------------------------------

Numerator for diluted loss per share                  ($142,040)     ($195,721)
===============================================================================

Denominator for basic loss per share -
  weighted average shares outstanding                 5,276,781      2,576,781
Effect of dilutive securities                                 0              0
-------------------------------------------------------------------------------

Denominator for diluted loss per share                5,276,781      2,576,781
-------------------------------------------------------------------------------

Basic and diluted loss per common share                  ($0.03)        ($0.08)
===============================================================================
</TABLE>


Consumers Financial Corporation                                          Page 10
Form 10-Q                                                         March 31, 2003


<PAGE>
ITEM 2.   MANAGEMENT'S  DISCUSSION  AND  ANALYSIS OF FINANCIAL CONDITION AND
          RESULTS OF OPERATIONS

     A  review of the significant factors which affected the Company's financial
condition  at  March 31, 2003 and its results of operations for the three months
then  ended  is  presented below. Information relating to the three months ended
March  31, 2002 is also presented for comparative purposes. This analysis should
be  read  in  conjunction  with  the  Consolidated  Financial Statements and the
related  Notes  appearing  elsewhere in this Form 10-Q and in the Company's 2002
Form  10-K.

     The  Private  Securities  Litigation  Reform  Act  of 1995 provides a "safe
harbor"  for  forward-looking  statements.  This  Form  10-Q  may  include
forward-looking  statements  which  reflect  the  Company's  current  views with
respect  to  future  events  and  financial  performance.  These forward-looking
statements  are  identified by their use of such terms and phrases as "intends",
"intend",  "intended",  "goal",  "estimate",  "estimates",  "expects", "expect",
"expected",  "project",  "projected",  "projections",  "plans",  "anticipates",
"anticipated",  "should",  "designed  to",  "foreseeable"  future",  "believe",
"believes" and "scheduled" and similar expressions. Readers are cautioned not to
place  undue reliance on these forward-looking statements which speak only as of
the  date  the  statement  was  made.  The  Company  undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result of
new  information,  future  events  or  otherwise.

                                    OVERVIEW

     At  a special meeting of shareholders held on March 24, 1998, the Company's
preferred  and  common  shareholders  approved  the sale of the Company's credit
insurance  and related products business, which was the Company's only remaining
business operation. In connection with the sale of its in force credit insurance
business,  the  Company also sold its credit insurance customer accounts and one
of  its  life  insurance  subsidiaries. At the special meeting, the shareholders
also  approved  a Plan of Liquidation and Dissolution (the Plan of Liquidation),
pursuant  to  which  the  Company  would  be  liquidated  and  dissolved.

     The  Plan  of  Liquidation  permitted the Board of Directors to continue to
consider  other  alternatives  to  liquidating  the  Company. Because the common
shareholders  would not receive a distribution under the plan of liquidation and
dissolution,  and  the  preferred  shareholders would receive less than the full
liquidation  value  of  their  shares,  the  Board  of Directors determined that
selling  the  Company  for  its value  as  a "public company shell" was a better
alternative  for  the  common  and  preferred  shareholders than liquidating the
Company.  Accordingly,  in  August  2001,  the Company sent request for proposal
letters  to  several investor groups that had expressed an interest in acquiring
the  Company  and  issued  a press release soliciting similar offers. In October
2001,  the  Board of Directors met to consider three offers which were received,
one of which was from CFC Partners, Ltd. (CFC Partners). Following its review of
each  offer,  the Board determined that the offer from CFC Partners was the best
offer.  In  February  2002,  the Company and CFC Partners entered into an option
agreement  which  permitted  CFC  Partners  to  acquire  a 51.2% interest in the
Company  at  $.04  per  share.  The  option held by CFC Partners was exercisable
within  15  business  days  following  the completion by the Company of a tender
offer to the preferred shareholders. The completion of this tender offer was, in
turn,  dependent  on  the  sale of the Company's remaining insurance subsidiary,
since  substantially all of the Company's assets were held by the subsidiary and
state  insurance  laws  would  not  permit  the  withdrawal  of  those  assets.

     In  June  2002, the Company completed the sale of the insurance subsidiary.
In  July  2002,  the Board of Directors approved a tender offer to the Company's
preferred  shareholders  at  a  price  of $4.40 per share, and on July 19, 2002,
tender  offer  materials  were  mailed to the holders of the preferred stock. On
August  23,  2002,  the  Company purchased 377,288 shares of preferred stock, or
83.4%  of  the  total  preferred shares outstanding, from those shareholders who
elected  to  tender  their  shares.


Consumers Financial Corporation                                          Page 11
Form 10-Q                                                         March 31, 2003


<PAGE>
     On  August  28,  2002,  the  Board  of  Directors  terminated  the  Plan of
Liquidation  and  authorized the issuance of 2,700,000 shares of common stock to
CFC  Partners.  Donald  J.  Hommel,  the  president  of  CFC  Partners, was also
appointed as a Director of the Company to fill an existing vacancy on the Board.
Following  such  appointment,  the  Company's  officers  resigned  and the Board
elected  Mr.  Hommel  as the Company's President and Chief Executive Officer. In
addition,  James  C.  Robertson and John E. Groninger, who had been Directors of
the  Company  for  more  than  30  years,  also  resigned.

     On October 17, 2002, the Board of Directors appointed Shalom S. Maidenbaum,
Esq. as an additional Director of the Company to fill an existing vacancy on the
Board.  In addition, the Directors elected Mr. Hommel as the Company's Treasurer
and  Mr.  Maidenbaum as the Company's Vice President and Secretary. On March 13,
2003,  the  Board  of  Directors appointed William T. Konczynin as an additional
Director  to  fill  an  existing  vacancy.

     As a result of the approval of the Plan of Liquidation, the Company adopted
a  liquidation  basis of accounting for the period from March 25, 1998 to August
28,  2002. Under this basis of accounting, assets were stated at their estimated
net  realizable  values  and  liabilities  were  stated  at  their  anticipated
settlement  amounts.  As  a  result of the transaction with CFC Partners and the
related  termination  of the Plan of Liquidation, effective August 29, 2002, the
Company  re-adopted  accounting principles applicable to going concern entities.
Furthermore,  as  discussed  in  Note  2  of the notes to consolidated financial
statements  appearing  elsewhere in this Form 10-Q, the Company has restated its
liquidation-basis  financial  statements  for  prior  periods  to  conform  such
statements  to  the  current  presentation.

     At  March  31,  2003,  the Company had no business operations; however, the
Company's  new management is currently pursuing various business ventures. Their
initial focus is on joint ventures with or acquisitions of companies in the real
estate,  construction management and medical technology businesses. As discussed
in  Note 3 of the notes to consolidated financial statements appearing elsewhere
in  this  Form  10-Q, in April 2003, CFC Partners entered into two agreements to
acquire investment properties in Springfield and Chicago, Illinois. CFC Partners
intends  to  assign  all of its rights and obligations under these agreements to
the  Company. In addition, the Company is negotiating the acquisition of several
other  investment  properties  as  well  as the purchase of another property for
residential  development.  The  Company intends to manage all of its real estate
development and other real estate activities through its construction management
business and will selectively pursue the management of outside projects as well.
In  addition,  in  April  2003,  CFC Partners entered into a letter of intent to
purchase, develop and operate positron emission tomography (PET) imaging centers
in  the  New  York  area.  CFC  Partners intends to assign all of its rights and
obligations  in  this  joint  venture  to  the  Company.

     At  March  31,  2003, the Company's shareholders' equity deficiency totaled
$322,518  compared  to a shareholders' equity deficiency of $196,485 at December
31,  2002. For the three months ended March 31, 2003 and 2002, the Company's net
loss  totaled  $125,294  and  $95,097,  respectively.

                              RESULTS OF OPERATIONS

     A  discussion  of the material factors which affected the Company's results
of  operations  for  the three months ended March 31, 2003 and 2002 is presented
below.

THREE MONTHS ENDED MARCH 31, 2003

     For  the three months ended March 31, 2003, the Company reported a net loss
of  $125,294 ($.03 per share) compared to a net loss of $95,097 ($.08 per share)
in the first quarter of 2002. Since the Company now has only a nominal amount of
revenues, the current year net loss is primarily the result of expenses incurred
while  the  Company  is  developing  new businesses. During the first quarter of
2003,  these  costs consisted principally of salaries to two individuals, audit,
legal  and  consulting  fees,  insurance  and  a $27,500 provision for loss on a
receivable  from  the  Company's  majority  shareholder.


Consumers Financial Corporation                                          Page 12
Form 10-Q                                                         March 31, 2003


<PAGE>
THREE MONTHS ENDED MARCH 31, 2002

     The  Company's net loss for the first quarter of 2002 was $95,097 ($.08 per
share).  The Company's revenues for the period totaled $35,441, of which $19,638
was  investment income. The Company's average invested assets during the quarter
were  $2,660,000. The majority of these assets were distributed to the Company's
preferred shareholders in August 2002 in connection with a tender offer to those
shareholders.  During  the quarter, the Company incurred $43,616 in salaries and
related benefits as well as audit, legal and other professional fees of $39,844.
In  addition to the net loss for the period, the Company also reported a loss of
$14,955  as  a  result  of a reduction in the unrealized appreciation of certain
debt  securities.  This  amount  has  been  included  in  the  calculation  of
comprehensive  loss  for  the  three  months  ended  March  31,  2002.

     For  the  three  months  ended  March 31, 2002, the excess of expenses over
revenues  originally  reported  by  the  Company  under the liquidation basis of
accounting  is  equal  to the net loss reported in the accompanying consolidated
financial  statements.

                              FINANCIAL CONDITION

CAPITAL  RESOURCES

     The  Company  currently  has  no  commitments for any capital expenditures.
However,  if  the  Company  develops  certain  planned  strategic  alliances  or
identifies a target company to be merged or otherwise combined with the Company,
the  Company's  plans regarding capital expenditures and related commitments are
likely  to  change.

     For  the  three  months  ended  March 31, 2003, the Company's cash and cash
equivalents decreased by $108,347 (from $165,758 at the beginning of the year to
$57,411  at  March 31, 2003). The decrease is principally the result of the cash
expenses  paid by the Company during the period and the $27,500 loan made to CFC
Partners,  as  discussed  in  Note  4  of  the  notes  to consolidated financial
statements  appearing  elsewhere  in  this  Form  10-Q.

LIQUIDITY

     Historically,  the  Company's  subsidiaries  met  most  of  their  cash
requirements  from  funds generated from operations, while the Company generally
relied  on  its  principal  operating subsidiaries to provide it with sufficient
cash  funds to maintain an adequate liquidity position. While the Company was in
liquidation,  its  principal  sources  of  cash funds were investment income and
proceeds from the sales of non-liquid assets. In connection with the acquisition
of  the  Company  by  CFC Partners, substantially all of the Company's remaining
liquid assets were used to complete a tender offer to the preferred shareholders
in  August  2002.

     At  March  31,  2003,  the  Company  had  only  $57,411  in  cash  and cash
equivalents.  Furthermore,  as  of  that  date,  the  Company  had  no  business
operations  and  no  sources  of operating revenues and cash flows. As indicated
above,  the  Company  is  currently  pursuing  various  business  opportunities,
including  strategic alliances, as well as the merger or combination of existing
businesses  with the Company. The Company's managements is initially focusing on
joint  ventures  with  or  acquisitions  of  companies  in  the  real  estate,
construction management and medical technology business segments. However, there
is  no  assurance  that the Company's efforts in this regard will be successful.


Consumers Financial Corporation                                          Page 13
Form 10-Q                                                         March 31, 2003


<PAGE>
REDEEMABLE  PREFERRED  STOCK

     As previously indicated, on August 23, 2002, the Company completed a tender
offer  to  all  of  its  preferred  shareholders, pursuant to which it purchased
377,288  shares  (approximately  83.4%  of  the shares outstanding) at $4.40 per
share  plus  $47,445  in  accrued  dividends.  The tender offer was completed in
conjunction  with  and  was  a  condition  to  the exercise of the option by CFC
Partners.  Since  all  of  the  Company's  remaining  assets  would  have  been
distributed  to  the  preferred  shareholders  if  the  Company  had  been
liquidated,  the  Board  of  Directors  believed that the exercise of the option
(and  the  related termination of the Plan of Liquidation) should not take place
until  the  preferred  shareholders  had  been  given a chance to exchange their
shares  for  cash.

     The  terms  of  the  redeemable preferred stock require the Company to make
annual  payments to a sinking fund. Such payments were to have commenced on July
1,  1998.  The preferred stock terms also provide that any purchase of preferred
shares  by  the  Company  will reduce the sinking fund requirements by an amount
equal  to  the  redemption  value  ($10  per share) of the shares acquired. As a
result  of  the Company's purchases of preferred stock in the open market and in
the  tender  offer, no sinking fund payment for the preferred stock is due until
July  1,  2006.  However,  in  connection with the exercise of the option by CFC
Partners,  the  Company  deposited  $331,434  into  a bank trust account for the
benefit  of  the  remaining  preferred  shareholders (see Note 5 of the notes to
consolidated  financial  statements  appearing  elsewhere  in  this  Form 10-Q).

     The  January  1,  2003 and April 1, 2003 dividends payable on the Company's
redeemable  preferred  stock have not been declared or paid by the Company. When
the Company is in arrears as to dividends or sinking fund appropriations for the
preferred  stock,  dividends to holders of the Company's common stock as well as
purchases, redemptions or acquisitions by the Company of shares of the Company's
common  stock  are  restricted. If the Company is in default with respect to the
payment  of  preferred  dividends  and the aggregate amount of the deficiency is
equal  to  four quarterly dividends, the holders of the preferred stock shall be
entitled,  only  while such arrearage exists, to elect two additional members to
the  then  existing  Board  of  Directors.


Consumers Financial Corporation                                          Page 14
Form 10-Q                                                         March 31, 2003


<PAGE>
ITEM  3.    QUANTITATIVE  AND  QUALITATIVE  DISCLOSURE  ABOUT  MARKET  RISK

     The  requirements for certain market risk disclosures are not applicable to
the  Company  because,  at  March  31,  2003  and December 31, 2002, the Company
qualifies  as  a "small  business  issuer" under  Regulation  S-B of the Federal
Securities  Laws.  A  small  business  issuer is defined as any United States or
Canadian  issuer  with  revenues  or  public  float  of  less  than $25 million.

ITEM  4.    CONTROLS  AND  PROCEDURES

     The Company has not conducted any business operations since 1997 and was in
the  process  of  completing  a  plan of liquidation until August 2002, when CFC
Partners  acquired a majority interest in the Company. As discussed in Item 2 of
this  Form  10-Q,  the  Company's  new  management  is pursuing various business
opportunities  for  the Company. However, at March 31, 2003, the Company did not
yet  have any business operations. Further, for the three months ended March 31,
2003,  the  Company  had  a very limited number of transactions to record in its
financial  records.

     The  Company's  management  is responsible for establishing and maintaining
disclosure  controls and procedures (as defined in Exchange Act Rules 13a-14 and
15d-14)  for  the  Company.  To  the  extent applicable to the Company's current
non-operating  status,  appropriate  disclosure  controls  and procedures are in
place  to  ensure that material information relating to the Company is available
and  provided to the Company's management, including its chief executive officer
and  chief  financial  officer,  particularly  during  the  period  in which the
Company's periodic reports on Form 10-K and 10-Q are being prepared. Management,
with  the  participation  of  the  Company's  chief  executive officer and chief
financial  officer,  has evaluated the effectiveness of the design and operation
of  the Company's disclosure controls and procedures as of a date within 90 days
prior  to  the  filing  date of this Form 10-Q and believes, as a result of that
evaluation,  that  such controls and procedures are effective in timely alerting
the  chief executive officer and chief financial officer of material information
relating  to  the  Company and required to be included in the Company's periodic
Securities  and  Exchange  Commission  filings.

     The  Company's  chief executive officer and chief financial officer are not
aware  of  any  significant  deficiencies in the design or operation of internal
controls  which could adversely affect the Company's ability to record, process,
summarize and report financial data, nor are they aware of any fraud, whether or
not material, that involves management or other employees who have a significant
role  in  the  Company's internal controls. Furthermore, there have not been any
significant  changes  in  internal  controls  or  in  other  factors  that could
significantly  affect internal controls subsequent to the date of the evaluation
referred  to  above.

     There were no significant changes in the Company's internal controls or, to
the  knowledge  of  the  management  of the Company, in other factors that could
significantly  affect  these  controls  subsequent  to  the  evaluation  date.


Consumers Financial Corporation                                          Page 15
Form 10-Q                                                         March 31, 2003


<PAGE>
                           PART II. OTHER INFORMATION


ITEM  1.    LEGAL  PROCEEDINGS

     The  registrant is not involved in any pending legal proceedings other than
routine  litigation  incidental  to  the  conduct  of  its  previous  business.

ITEM  2.    CHANGES  IN  SECURITIES

     During  the  three  months  ended  March  31,  2003,  there  have  been  no
limitations  or  qualifications,  through  charter documents, loan agreements or
otherwise, placed upon the holders of the registrant's common or preferred stock
to  receive  dividends,  except  as  described  in  Item  3  below.

ITEM  3.    DEFAULTS  UPON  SENIOR  SECURITIES

     The  January  1,  2003 and April 1, 2003 dividends payable on the Company's
redeemable  preferred  stock  have not been declared or paid by the Company. The
amount  of  these dividends totals $32,014. When the Company is in arrears as to
dividends  or  sinking fund appropriations for the preferred stock, dividends to
holders  of  the  Company's  common  stock  as well as purchases, redemptions or
acquisitions  by  the  Company  of  shares  of  the  Company's  common stock are
restricted.  If  the  Company  is  in  default  with  respect  to the payment of
preferred  dividends and the aggregate amount of the deficiency is equal to four
quarterly  dividends, the holders of the preferred stock shall be entitled, only
while  such  arrearage  exists,  to  elect  two  additional  members to the then
existing  Board  of  Directors.

ITEM  4.    SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

     At a special meeting of shareholders held on January 9, 2003, the Company's
common  shareholders  were asked to vote upon a proposal to reinstate the voting
rights  of  the  2,700,000  shares  of  common stock of the Company owned by CFC
Partners.  Under  Pennsylvania  law,  the shares issued to CFC Partners were not
permitted  to  vote  on  any  matters  unless  and until such voting rights were
restored  by  the  holders of a majority of the outstanding common shares of the
Company, excluding the shares owned by CFC Partners. A total of 1,319,491 shares
(or  50.99%  of  the  outstanding shares entitled to vote) voted in favor of the
proposal  to  reinstate  the  voting  rights  of the CFC Partners shares, 24,069
shares  (.93%)  voted  against  the  proposal  and 14,633 shares (.57%) voted to
abstain  with  respect to this proposal. As a result, the shares of common stock
held  by  CFC  Partners  now  have  full  voting  rights.

     A  second  special  meeting  of shareholders was held on March 15, 2003, at
which  time the Company's common shareholders were asked to approve proposals to
amend  the  Company's  Articles  of  Incorporation  to  (i) effect a one-for-ten
reverse stock split, (ii) increase the Company's authorized shares to 50 million
and  (iii)  permit action upon the written consent of less than all shareholders
of the Company, pursuant to the Pennsylvania Business Corporation Law. The March
15 meeting will be reconvened on a date to be determined so that the Company can
comply  with Regulation 14C of the Securities Exchange Act of 1934 as it relates
to  the  dissemination  of  information  required  by  Schedule  14C.

ITEM  5.    OTHER  INFORMATION

     None


Consumers Financial Corporation                                          Page 16
Form 10-Q                                                         March 31, 2003


<PAGE>
ITEM  6.    EXHIBITS  AND  REPORTS  ON  FORM  8-K

     (a)  Exhibits:

                                     Part I
                                     ------
          (11) Statement re computation of per share earnings (iv)
          (15) Letter re unaudited interim financial information (ii)
          (18) Letter re change in accounting principles (ii)
          (19) Report furnished to security holders (ii)
          (23) Consents of accountants (ii)

                                    Part II
                                    -------
          (2)  Plan of acquisition, reorganization, arrangement, liquidation or
               succession (i)
          (3)  Articles of incorporation and by-laws (i)
          (4)  Instruments defining the rights of security holders, including
               indentures (i)
          (10) Material contracts (ii)
          (22) Published report regarding matters submitted to a vote of
               security holders (ii)
          (23) Consents of experts and counsel (excluding accountants) (ii)
          (24) Power of attorney (ii)
        (99.1) Certification of Chief Executive Officer (Section 906 of
               Sarbanes-Oxley Act) (iii)
        (99.2) Certification of Chief Financial Officer (Section 906 of
               Sarbanes-Oxley Act) (iii)

               (i)  Information or document provided in previous filing with the
                      Commission
               (ii) Information or document not applicable to registrant
               (iii)Information or document included as exhibit to this Form
                      10-Q. Any exhibits to such information or document are not
                      included herein.
               (iv) Information contained in consolidated financial statements
                      or related notes

     (b)  Reports on Form 8-K

          On  January  21, 2003, the Company filed a Form 8-K to report that the
     common  shareholders  of  the  Company  had voted in favor of a proposal to
     reinstate  the voting rights of the 2,700,000 shares of common stock of the
     Company owned by CFC Partners. The special meeting of shareholders was held
     on  January  9,  2003.


Consumers Financial Corporation                                          Page 17
Form 10-Q                                                         March 31, 2003


<PAGE>
                                   SIGNATURES



Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned  thereunto  duly  authorized.



                                           CONSUMERS  FINANCIAL  CORPORATION
                                           ---------------------------------
                                               Registrant


Date      May  20,  2003               By  /S/ Donald  J.  Hommel
     ----------------------                -------------------------------------
                                           Donald  J.  Hommel
                                           President and Chief Executive Officer


Date      May  20,  2003               By  /S/ Donald  J.  Hommel
     ----------------------                -------------------------------------
                                           Donald  J.  Hommel
                                           Chief  Financial  Officer


Consumers Financial Corporation                                          Page 18
Form 10-Q                                                         March 31, 2003


<PAGE>
                    CERTIFICATION OF CHIEF EXECUTIVE OFFICER
           PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002


I, Donald J. Hommel, certify that:

1.        I  have  reviewed  this  quarterly  report  on  Form 10-Q of Consumers
          Financial  Corporation;

2.        Based  on  my  knowledge,  this  quarterly report does not contain any
          untrue  statement  of a material fact or omit to state a material fact
          necessary  to  make the statements made, in light of the circumstances
          under  which such statements were made, not misleading with respect to
          the  period  covered  by  this  quarterly  report;

3.        Based  on  my knowledge, the financial statements, and other financial
          information  included  in this quarterly report, fairly present in all
          material  respects  the financial condition, results of operations and
          cash  flows of the registrant as of, and for, the periods presented in
          this  quarterly  report;

4.        In my capacity as Chief Executive Officer and Chief Financial Officer,
          I  am responsible for establishing and maintaining disclosure controls
          and  procedures  (as  defined in Exchange Act Rules 13a-14 and 15d-14)
          for  the  registrant  and  I  have:

     a)   designed such disclosure controls and procedures to ensure that
          material information relating to the registrant is made known to me by
          others, particularly during the period in which this quarterly report
          is being prepared;

     b)   evaluated the effectiveness of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   presented in this quarterly report the conclusions about the
          effectiveness of the disclosure controls and procedures based on an
          evaluation as of the Evaluation Date;

     5.   In my capacity as Chief Executive Officer and Chief Financial Officer,
          I  have  disclosed,  based  on  the  most  recent  evaluation,  to the
          registrant's auditors and the audit committee of registrant's board of
          directors  (or  persons  performing  the  equivalent  function):

     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which  could  adversely affect  the  registrant's ability to
          record  process,  summarize  and  report  financial  data  and  have
          identified  for  the  registrant's auditors any material weaknesses in
          internal  controls;  and

     b)   any  fraud, whether or not material, that involves management or other
          employees  who  have  a  significant  role in the registrants internal
          controls;  and

6.        In my capacity as Chief Executive Officer and Chief Financial Officer,
          I  have  indicated  in this quarterly report whether or not there were
          significant  changes  in  internal  controls  or in other factors that
          could significantly affect internal controls subsequent to the date of
          the  most  recent  evaluation,  including  any corrective actions with
          regard  to  significant  deficiencies  and  material  weaknesses.



Date      May  20,  2003               By  /S/ Donald  J.  Hommel
     ----------------------                ---------------------------------
                                           Chief  Executive  Officer


Consumers Financial Corporation                                          Page 19
Form 10-Q                                                         March 31, 2003


<PAGE>
                    CERTIFICATION OF CHIEF FINANCIAL OFFICER
           PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I,  Donald  J.  Hommel,  certify  that:

1.        I  have  reviewed  this  quarterly  report  on  Form 10-Q of Consumers
          Financial  Corporation;

2.        Based  on  my  knowledge,  this  quarterly report does not contain any
          untrue  statement  of a material fact or omit to state a material fact
          necessary  to  make the statements made, in light of the circumstances
          under  which such statements were made, not misleading with respect to
          the  period  covered  by  this  quarterly  report;

3.        Based  on  my knowledge, the financial statements, and other financial
          information  included  in this quarterly report, fairly present in all
          material  respects  the financial condition, results of operations and
          cash  flows of the registrant as of, and for, the periods presented in
          this  quarterly  report;

4.        In my capacity as Chief Executive Officer and Chief Financial Officer,
          I  am responsible for establishing and maintaining disclosure controls
          and  procedures  (as  defined in Exchange Act Rules 13a-14 and 15d-14)
          for  the  registrant  and  I  have:

     a)   designed such disclosure controls and procedures to ensure that
          material information relating to the registrant is made known to me by
          others, particularly during the period in which this quarterly report
          is being prepared;

     b)   evaluated the effectiveness of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   presented in this quarterly report the conclusions about the
          effectiveness of the disclosure controls and procedures based on an
          evaluation as of the Evaluation Date;

     5.   In my capacity as Chief Executive Officer and Chief Financial Officer,
          I  have  disclosed,  based  on  the  most  recent  evaluation,  to the
          registrant's auditors and the audit committee of registrant's board of
          directors  (or  persons  performing  the  equivalent  function):

     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which  could  adversely  affect the  registrant's ability to
          record  process,  summarize  and  report  financial  data  and  have
          identified  for  the  registrant's auditors any material weaknesses in
          internal  controls;  and

     b)   any  fraud, whether or not material, that involves management or other
          employees  who  have  a significant  role in the registrant's internal
          controls;  and

6.        In my capacity as Chief Executive Officer and Chief Financial Officer,
          I  have  indicated  in this quarterly report whether or not there were
          significant  changes  in  internal  controls  or in other factors that
          could significantly affect internal controls subsequent to the date of
          the  most  recent  evaluation,  including  any corrective actions with
          regard  to  significant  deficiencies  and  material  weaknesses.



Date      May  20,  2003               By  /S/ Donald  J.  Hommel
     ----------------------                ---------------------------------
                                           Chief  Financial  Officer


Consumers Financial Corporation                                          Page 20
Form 10-Q                                                         March 31, 2003


<PAGE>