PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
                            MONTHLY SERVICER'S REPORT
 
Number of Months Series in Existence                                       35
Monthly Period Ended                                        December 31, 1996
Distribution Date                                            January 15, 1997
Determination Date                                           January 10, 1997
 
1.  Trust Activity Series 1994-1
 
    Beginning of Month - Aggregate Principal Receivables      2,180,840,579.58
 
    Principal Collections on the Receivables                    215,112,172.00
 
    Finance Charge Receivables                                   30,087,443.65
 
    Receivables in Defaulted Accounts                             8,935,292.20
 
    End of Month - Aggregate Principal Receivables            2,174,315,241.66

    Investor Interest Series 1994-1                             116,666,666.67
    Investor Interest Series 1994-2                             400,000,000.00
    Investor Interest Series 1995-1                             400,000,000.00
    Investor Interest Series 1996-1                             400,000,000.00
    Seller Principal Receivables                                857,648,574.99
 
    Investor Percentage with respect to...
                           Finance Charges                          5.3656740%
                           Charged-Off Accounts                     5.3656740%
                           Principal Receivables                    9.1982982%
 
    Seller Percentage with respect to ...
                           Finance Charges                         39.4445368%
                           Charged-Off Accounts                    39.4445368%
                           Principal Receivables                   35.6119125%
 
2.  Allocation of Funds in Collection Account

    Available Finance Charge Collections                          1,839,501.33
 
    Available Principal Collections                              19,727,455.00
 
    Investor Default Amount                                         546,290.41
 
    Aggregate Collections Allocated to Certificateholders        21,566,956.34
 
    Monthly Certificate Interest Payable to Certificateholders                  
   (See "Calculation of Certificate Interest" #3)                   566,666.67
 
    Monthly Principal Payable To Certificateholders
    (See "Calculation of Monthly Principal" #4)                  16,666,666.67
 
    Monthly Principal Reinvested In Receivables
    (See "Calculation of Monthly Principal" #4)                   3,607,078.74
 
    (Net Deposit)/Draws on Shared Principal Collections                   0.00
 
    Collections Available to Reimburse Investor Charge offs         493,905.37
 
    Aggregate Investor Charge Offs                                        0.00
 
    Reimbursed Investor Charge Offs                                       0.00
    Reimbursed Investor Charge Offs per $1,000 Original Investment        0.00
 
    Monthly Investor Servicing Fee
    (See "Calculation of Monthly Servicing Fee" #6)                 222,222.22
 
    Monthly Certificate Insurer Fee                                  10,416.67
 
    Excess Servicing (Shortfall)  (dollars)                         493,905.37 
    Excess Servicing (Shortfall)  (percentage of Investor Interest)      4.45%
 
    Required Shared Finance Charge Collections from other Series          0.00
    Draw on Shared Finance Charge Collections from other Series           0.00
 
    Withdrawal from Cash Collateral Account                               0.00
 
    Surety Bond Claim                                                     0.00

    Certificate Insurer Fee Shortfall                                     0.00
 
    Servicing Fee Shortfall                                               0.00
 
    Investor Charge Offs                                                  0.00
    Investor Charge Offs per $1,000 Original Investment                   0.00
 
    Investor Certificate Interest Shortfall     (Deficiency Amounts)      0.00
 
    Payments To Certificate Insurer                                       0.00
 
    Deposits In Cash Collateral Account                                   0.00
 
    Required Shared Finance Charge Collections for other Series           0.00
    Deposit of Shared Finance Charge Collections for other Series         0.00
 
    Total Distribution to Investors                              17,233,333.33
    Total Distribution to Investors per $1,000 Invested                  86.17
 
3.  Calculation of Certificate Interest
 
    Certificate Rate                                                  5.10000%
 
    This Month Certificate Interest                                 566,666.67
 
    Previous Month's Deficiency Amount                                    0.00
 
    Total Certificate Interest Distributable to Certificateholders  566,666.67
    Total Certificate Interest Distributable per $1,000 of Original 
     Investment                                                           2.83
 
4.  Calculation of Monthly Principal
 
    Beginning Investor Interest                                 133,333,333.33
 
    Available Principal Collections                              19,727,455.00
 
    Investor Default Amount                                         546,290.41
 
    Total Investor Monthly Principal                             20,273,745.41
 
    Investor Monthly Principal Reinvested in Receivables          3,607,078.74
 
    Controlled Amortization Amount                               16,666,666.67
 
    Maximum Monthly Principal to Certificateholders              16,666,666.67
 
    Required Shared Principal Collections for other Series                0.00
    Deposit of Shared Principal Collections for other Series              0.00
    Required Shared Principal Collections from other Series               0.00
 
    Draw on Shared Principal Collections from other Series                0.00
 
    Deficit Controlled Amortization Amount                                0.00
 
    Monthly Principal Payable to Certificateholders              16,666,666.67
    Monthly Principal Payable per $1,000 of Original Investment          83.33
 
    Ending Investor Interest                                    116,666,666.67
 
5.  Calculation of Pool Factor
 
    Pool Factor
    (Ending Certificate Balance divided by Initial Principal Amount
      to 7 decimal places)                                           0.5833333
 
6. Calculation of Monthly Servicing Fee
 
   Series Servicing Fee Percentage                                       2.00%
 
   Beginning Investor Interest                                  133,333,333.33
 
   Monthly Servicing  Fee                                           222,222.22
 
7.  Calculation of Remaining Surety Bond Amount
 
    Available Surety Bond Amount on Previous Payment Date        13,500,000.00
 
    Stated Surety Bond Amount                                    12,000,000.00

    Unreimbursed Claims on Surety Bond                                    0.00
 
    Reimbursements of Claims on Surety Bond                               0.00
 
    Available Surety Bond Amount     (Dollars)                   12,000,000.00 
    Available Surety Bond Amount     (Percentage)                        9.00%
 
8.  Cash Collateral Account Activity
 
    Beginning of Month Balance                                    5,250,000.00
 
    Required Cash Collateral Account Amount                       4,666,666.67
 
    Cash Collateral Account Deposits                                      0.00
 
    Reinvestment Income Received on Cash Collateral Account          25,604.26
 
    Aggregate Cash Collateral Account Draws                               0.00
 
    Available Cash Collateral Amount     (Dollars)                4,666,666.67
    Available Cash Collateral Amount     (Percentage)                    3.50%
 
    Total Credit Enhancement Percentage                                 12.50%
 
9.  Past Due Statistics
    (past due on a contractual basis)
 
    1-30 days past due     Dollars                              122,962,270.13
                           Percent Dollars                               5.66%
                           Number of Accts                              42,790
                           Percent Number of Accts                       3.17%
 
    31-60 days past due    Dollars                               30,476,975.96
                           Percent Dollars                               1.40%
                           Number of Accts                              10,135
                           Percent Number of Accts                       0.75%
 
    61-90 days past due    Dollars                               19,514,180.27
                           Percent Dollars                               0.90%
                           Number of Accts                               5,961
                           Percent Number of Accts                       0.44%
 
    91-120 days past due   Dollars                               15,215,724.36
                           Percent Dollars                               0.70%
                           Number of Accts                               4,539
                           Percent Number of Accts                       0.34%
 
    121-150 days past due  Dollars                               12,649,490.43
                           Percent Dollars                               0.58%
                           Number of Accts                               3,593
                           Percent Number of Accts                       0.27%
 
    151-180 days past due  Dollars                                9,807,997.88
                           Percent Dollars                               0.45%
                           Number of Accts                               2,806
                           Percent Number of Accts                       0.21%
 
    181 + days past due    Dollars                               14,665,490.59
                           Percent Dollars                               0.67%
                           Number of Accts                               4,056
                           Percent Number of Accts                       0.30%
 
10. Base Rate Calculation
 
    Base Rate                                                            7.20%
 
    Portfolio Yield   (net of losses)                                   11.64%
 
    Excess of Portfolio Yield over Base Rate                             4.44%
 
11. Number of Accounts in the Trust
 
    Number of Additional Accounts                                            0
    Number of Removed Accounts                                         226,745
    Number of Automatic Additonal Accounts                                 909
    Ending Number of Accounts                                        1,349,867
 

              PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
                            MONTHLY SERVICER'S REPORT
 
Number of Months Series in Existence                                       27
Monthly Period Ended                                        December 31, 1996
Distribution Date                                            January 15, 1997
Determination Date                                           January 10, 1997
Number of Days in Period                                                   30
 
1.  Trust Activity Series 1994-2
 
    Beginning of Month - Aggregate Principal Receivables      2,180,840,579.58
 
    Principal Collections on the Receivables                    215,112,172.00
 
    Finance Charge Receivables                                   30,087,443.65
 
    Receivables in Defaulted Accounts                             8,935,292.20
 
    End of Month - Aggregate Principal Receivables            2,174,315,241.66
 
    Investor Interest Series 1994-1                             116,666,666.67
    Investor Interest Series 1994-2                             400,000,000.00
    Investor Interest Series 1995-1                             400,000,000.00
    Investor Interest Series 1996-1                             400,000,000.00
    Seller Principal Receivables                                857,648,574.99
 
    Total Investor Percentage with respect to...
                           Finance Charges                        18.3965964%
                           Charged-Off Accounts                   18.3965964%
                           Principal Receivables                  18.3965964%
 
    Class A Percentage with respect to...
                           Finance Charges                        17.4767666%
                           Charged-Off Accounts                   17.4767666%
                           Principal Receivables                  17.4767666%
 
    Class B Percentage with respect to...
                           Finance Charges                         0.9198298%
                           Charged-Off Accounts                    0.9198298%
                           Principal Receivables                   0.9198298%
 
    Seller Percentage with respect to ...
                           Finance Charges                        39.4445368%
                           Charged-Off Accounts                   39.4445368%
                           Principal Receivables                  35.6119125%
 
    Class A Available Finance Charge Collections                 5,242,578.80
 
    Class A Monthly Cap Interest Payable to Class A Certificateholders
    (See "Calculation of Certificate Interest" #3)               1,822,565.50
      Unpaid Class A Monthly Cap Interest                                0.00
 
    Class A Monthly Servicing Fee
    (See "Calculation of Monthly Servicing Fee" #6)                633,333.33
      Unpaid Class A Monthly Servicing Fee                               0.00
 
    Class A Investor Default Amount                              1,556,927.67
    Unreimbursed Class A Investor Charge-offs                            0.00
 
    Excess Spread from Class A Finance Charge Collections        1,229,752.30
 
    Class A Required Amount                                              0.00
 
    Class B Available Finance Charge Collections                   275,925.20
 
    Class B Monthly Cap Interest Payable to Class B Certificateholders
    (See "Calculation of Certificate Interest" #3)                 100,091.17
      Unpaid Class B Monthly Cap Interest                                0.00
 
    Class B Monthly Servicing Fee
    (See "Calculation of Monthly Servicing Fee" #6)                 33,333.33
     Unpaid Class B Monthly Servicing Fee                                0.00
 
    Class B Investor Default Amount                                 81,943.56
     Unreimbursed Class B Investor Charge-offs                           0.00
 
    Excess Spread from Class B Finance Charge Collections           60,557.14
 
    Class B Required Amount                                              0.00
 
    Total Excess Spread                                          1,290,309.44
 
    Excess Spread used to Satisfy Class A Required Amount                 0.00
     Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest    0.00
     Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee   0.00
     Excess Spread used to satisfy Unreimbursed Class A Investor
      Charge-offs                                                         0.00
     Remaining Class A Required Amount                                    0.00
 
    Excess Spread used to satisfy Class B Required Amount                 0.00
     Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest    0.00
     Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee   0.00
     Excess Spread used to satisfy Unreimbursed Class B Investor
      Charge-offs                                                         0.00
     Remaining Class B Required Amount                                    0.00
 
    Shared Finance Charges used to satisfy Remaining Class A Required
     Amount                                                               0.00
      Shared Finance Charges used to satisfy Unpaid Class A Monthly
       Cap Interest                                                       0.00
      Shared Finance Charges used to satisfy Unpaid Class A Monthly
       Servicing Fee                                                      0.00
      Shared Finance Charges used to satisfy Unreimbursed Class A
       Investor Charge-offs                                               0.00
      Remaining Class A Required Amount                                   0.00
 
    Cash Collateral Withdrawal used to satisfy Remaining Class A
     Required Amount                                                      0.00
      Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
       Cap Interest                                                       0.00
      Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
       Servicing Fee                                                      0.00
      Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
       Investor Charge-offs                                               0.00
      Remaining Class A Required Amount                                   0.00
 
    Class B Reallocated Amount used to satisfy Remaining Class A
     Required Amount                                                      0.00
      Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
       Cap Interest                                                       0.00
      Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
       Servicing Fee                                                      0.00
      Class B Reallocated Amount used to satisfy Unreimbursed Class A
       Investor Charge-offs                                               0.00
      Remaining Class A Required Amount                                   0.00
 
    Class B Investor Interest used to satisfy Unreimbursed Class A
     Investor Charge-offs                                                 0.00
 
    Shared Finance Charges used to satisfy Remaining Class B Required
     Amount                                                               0.00
      Shared Finance Charges used to satisfy Unpaid Class B Monthly
       Cap Interest                                                       0.00
      Shared Finance Charges used to satisfy Unpaid Class B Monthly
       Servicing Fee                                                      0.00
      Shared Finance Charges used to satisfy Unreimbursed Class B
       Investor Charge-offs                                               0.00
      Remaining Class B Required Amount                                   0.00
  
    Cash Collateral Withdrawal used to satisfy Remaining Class B
     Required Amount                                                      0.00
      Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
       Cap Interest                                                       0.00
      Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
       Servicing Fee                                                      0.00
      Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
       Investor Charge-offs                                               0.00
      Remaining Class B Required Amount                                   0.00
 
    Excess Spread used to satisfy interest on overdue Class A
    (See "Calculation of Certificate Interest" #3)                        0.00
 
    Excess Spread used to satisfy interest on overdue Class B
    (See "Calculation of Certificate Interest" #3)                        0.00
 
    Excess Spread used to satisfy reimbursements of Class B Interest      0.00
 
    Excess Spread used to satisfy deposits into Required Cash Collateral
     Account                                                              0.00
 
    Excess Spread used to satisfy shortfalls of the Class A Interest
     Payments                                                             0.00
 
    Excess Spread used to satisfy shortfalls of the Class B Interest
     Payments                                                             0.00
 
    Excess Spread used to satisfy payments per Loan Agreement     1,290,309.44
 
    Excess Spread used to satisfy Class A Excess Interest                 0.00
 
    Excess Spread used to satisfy Class B Excess Interest                 0.00
 
    Remaining Excess Servicing  (Shortfall) (dollars)             1,273,242.78
    Remaining Excess Servicing  (Shortfall) (percentage of
     Investor Interest)                                                  3.82%
 
    Class A Investor Certificate Interest Shortfall(Deficiency Amounts)   0.00
 
    Class A Charge-offs                                                   0.00
    Unreimbursed Class A Charge Offs                                      0.00
    Unreimbursed Class A Charge Offs per $1,000 Original Investment       0.00
 
    Class A Monthly Servicing Fee Shortfall                               0.00
 
    Class B Investor Certificate Interest Shortfall                       0.00
 
    Class B Charge-offs                                                   0.00
    Unreimbursed Class B Charge Offs                                      0.00
    Unreimbursed Class B Charge Offs per $1,000 Original Investment       0.00
 
    Class B Monthly Servicing Fee Shortfall                               0.00
 
    Available Principal Collections                              39,454,910.00
 
    Monthly Principal Payable To Class A Certificateholders
    (See "Calculation of Monthly Principal" #4)                           0.00
 
    Monthly Principal Payable To Class B Certificateholders
    (See "Calculation of Monthly Principal" #4)                           0.00
 
    Monthly Principal Reinvested In Receivables
    (See "Calculation of Monthly Principal" #4)                  41,093,781.22
 
    (Net Deposit)/Draws on Shared Principal Collections                   0.00
 
    Required Shared Finance Charge Collections from other Series          0.00
    Draw on Shared Finance Charge Collections from other Series           0.00
 
    Withdrawal from Cash Collateral Account                               0.00
 
    Class B Investor Certificate Interest Shortfall (Deficiency Amounts)  0.00
 
    Required Shared Finance Charge Collections for other Series           0.00
    Deposit of Shared Finance Charge Collections for other Series         0.00
 
    Total Distribution to Class A Investors                       1,822,565.50
    Total Distribution to Class A Investors per $1,000 Invested           4.80
 
    Total Distribution to Class B Investors                         100,091.17
    Total Distribution to Class B Investors per $1,000 Invested           5.00
 
3.  Calculation of Certificate Interest
 
    Class A Certificate Rate                                          5.75547%
    Class A Interest Rate Cap Provider Deposit                            0.00
 
    Previous Month's Class A Deficiency Amount                            0.00
 
    Class A Interest at the Certificate Rate + 0.5% on Deficiency Amount  0.00
 
    This Month Class A Certificate Interest                       1,822,565.50
 
    Expected Class A Principal                                  380,000,000.00
    This Month Class A Cap Shortfall                                      0.00
    Class A Excess Interest                                               0.00
 
    Total Class A Interest Distributable to Class A
     Certificateholders                                           1,822,565.50
    Total Class A Interest Distributable per $1,000 of Class A
     Original Investment                                                  4.80
 
    Class B Certificate Rate                                          6.00547%
    Class B Interest Rate Cap Provider Deposit                            0.00
 
    Previous Month's Class B Deficiency Amount                            0.00
 
    Class B Interest at the Certificate Rate + 0.5% on Deficiency
     Amount                                                               0.00
 
    This Month Class B Certificate Interest                         100,091.17
 
    Expected Class B Principal                                   20,000,000.00
    This Month Class B Cap Shortfall                                      0.00
    Class B Excess Interest                                               0.00
 
    Total Class B Interest Distributable to Class B
     Certificateholders                                             100,091.17
    Total Class B Interest Distributable per $1,000 of Class B
     Original Investment                                                  5.00
 
    Total Certificate Interest Distributable to
     Certificateholders                                           1,922,656.67
    Total Certificate Interest Distributable per $1,000 of
     Original Investment                                                  4.81
 
 4.  Calculation of Monthly Principal
 
     Beginning Investor Interest                                400,000,000.00
 
     Beginning Class A Interest                                 380,000,000.00
 
     Class A Available Principal Collections                     37,482,164.50
     Class A Monthly Unreimbursed Charge-Offs                             0.00
     Total Class A Monthly Principal                             39,039,092.17
 
     Class A Monthly Principal Reinvested in Receivables         39,039,092.17
 
     Class A Controlled Amortization Amount                               0.00
 
     Maximum Monthly Principal to Class A Certificateholders              0.00
 
     Class A Deficit Controlled Amortization Amount                       0.00
 
     Monthly Principal Payable to Class A Certificateholders              0.00
     Class A Monthly Principal Payable per $1,000 of Original Investment  0.00
 
     Beginning Class B Interest                                  20,000,000.00
 
     Class B Available Principal Collections                      1,972,745.50
     Class B Monthly Unreimbursed Charge-Offs                             0.00
     Total Class B Monthly Principal                              2,054,689.05
 
     Class B Reallocated Principal                                        0.00
     Prior Month's Cumulative Class B Reallocated Principal               0.00
     Class B Reduction of Interest                                        0.00
     Prior Month's Cumulative Class B Reduction of Interest               0.00
 
     Class B Monthly Principal Reinvested in Receivables          2,054,689.05
 
     Class B Controlled Amortization Amount                               0.00
 
     Maximum Monthly Principal to Class B Certificateholders              0.00
 
     Required Shared Principal Collections for other Series               0.00
     Deposit of Shared Principal Collections for other Series             0.00
     Required Shared Principal Collections from other Series              0.00
     Draw on Shared Principal Collections from other Series               0.00
 
     Class B Deficit Controlled Amortization Amount                       0.00
 
     Monthly Principal Payable to Class B Certificateholders              0.00
     Class B Monthly Principal Payable per $1,000 of Original Investment  0.00
 
     Ending Investor Interest                                   400,000,000.00
     Ending Class A Interest                                    380,000,000.00
     Ending Class B Interest                                     20,000,000.00
 
5.  Calculation of Pool Factor
 
    Pool Factor
    (Ending Certificate Balance divided by Initial Principal Amount
      to 7 decimal places)                                            1.000000
 
6. Calculation of Monthly Servicing Fee
 
   Series Servicing Fee Percentage                                       2.00%
 
   Beginning Class A Investor Interest                          380,000,000.00
   Beginning Class B Investor Interest                           20,000,000.00
   Beginning Investor Interest                                  400,000,000.00
 
   Class A Monthly Servicing Fee                                    633,333.33
   Class B Monthly Servicing Fee                                     33,333.33
   Total Monthly Servicing  Fee                                     666,666.67
 
7.  Cash Collateral Account Activity
 
    Beginning of Month Balance                                   36,000,000.00
 
    Required Cash Collateral Account Amount                      36,000,000.00
 
    Excess Spread used to satisfy payments per Loan Agreement     1,290,309.44
 
    Cash Collateral Account Deposits                                      0.00
 
    Reinvestment Income Received on Cash Collateral Account          57,466.67

    Aggregate Cash Collateral Account Draws                               0.00
 
    Available Cash Collateral Amount     (Dollars)               36,000,000.00
    Available Cash Collateral Amount     (Percentage)                    9.00%
 
8.  Past Due Statistics
    (past due on a contractual basis)
 
    1-30 days past due     Dollars                              122,962,270.13
                           Percent Dollars                               5.66%
                           Number of Accts                              42,790
                           Percent Number of Accts                       3.17%
 
    31-60 days past due    Dollars                               30,476,975.96
                           Percent Dollars                               1.40%
                           Number of Accts                              10,135
                           Percent Number of Accts                       0.75%
 
    61-90 days past due    Dollars                               19,514,180.27
                           Percent Dollars                               0.90%
                           Number of Accts                               5,961
                           Percent Number of Accts                       0.44%
 
    91-120 days past due   Dollars                               15,215,724.36
                           Percent Dollars                               0.70%
                           Number of Accts                               4,539
                           Percent Number of Accts                       0.34%
 
    121-150 days past due  Dollars                               12,649,490.43
                           Percent Dollars                               0.58%
                           Number of Accts                               3,593
                           Percent Number of Accts                       0.27%
 
    151-180 days past due  Dollars                                9,807,997.88
                           Percent Dollars                               0.45%
                           Number of Accts                               2,806
                           Percent Number of Accts                       0.21%
 
    181 + days past due    Dollars                               14,665,490.59
                           Percent Dollars                               0.67%
                           Number of Accts                               4,056
                           Percent Number of Accts                       0.30%
 
9. Base Rate Calculation
 
   Base Rate                                                             7.77%
 
   Portfolio Yield   (net of losses)                                    11.64%
 
   Excess of Portfolio Yield over Base Rate                              3.87%
 
10. Number of Accounts in the Trust
 
    Number of Additional Accounts                                            0
    Number of Removed Accounts                                         226,745
    Number of Automatic Additonal Accounts                                 909
    Ending Number of Accounts                                        1,349,867
 
 
              PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
                            MONTHLY SERVICER'S REPORT
 
Number of Months Series in Existence                                       22
Monthly Period Ended                                        December 31, 1996
Distribution Date                                            January 15, 1997
Determination Date                                           January 10, 1997
Number of Days in Period                                                   30
 
1.  Trust Activity Series 1995-1
 
    Beginning of Month - Aggregate Principal Receivables      2,180,840,579.58
 
    Principal Collections on the Receivables                    215,112,172.00
 
    Finance Charge Receivables                                   30,087,443.65
 
    Receivables in Defaulted Accounts                             8,935,292.20
 
    End of Month - Aggregate Principal Receivables            2,174,315,241.66
 
    Investor Interest Series 1994-1                             116,666,666.67
    Investor Interest Series 1994-2                             400,000,000.00
    Investor Interest Series 1995-1                             400,000,000.00
    Investor Interest Series 1996-1                             400,000,000.00
    Seller Principal Receivables                                857,648,574.99
 
    Total Investor Percentage with respect to...
                           Finance Charges                         18.3965964%
                           Charged-Off Accounts                    18.3965964%
                           Principal Receivables                   18.3965964%
 
    Class A Percentage with respect to...
                           Finance Charges                         17.4767666%
                           Charged-Off Accounts                    17.4767666%
                           Principal Receivables                   17.4767666%
 
    Class B Percentage with respect to...
                           Finance Charges                          0.9198298%
                           Charged-Off Accounts                     0.9198298%
                           Principal Receivables                    0.9198298%
 
    Seller Percentage with respect to ...
                           Finance Charges                         39.4445368%
                           Charged-Off Accounts                    39.4445368%
                           Principal Receivables                   35.6119125%
 
2.  Allocation of Funds in Collection Account
 
    Class A Available Finance Charge Collections                  5,242,578.80
 
    Class A Monthly Cap Interest Payable to Class A Certificateholders
    (See "Calculation of Certificate Interest" #3)                1,838,398.83
     Unpaid Class A Monthly Cap Interest                                  0.00
 
    Class A Monthly Servicing Fee
    (See "Calculation of Monthly Servicing Fee" #6)                 633,333.33
     Unpaid Class A Monthly Servicing Fee                                 0.00
 
    Class A Investor Default Amount                               1,556,927.67
    Unreimbursed Class A Investor Charge-offs                             0.00
 
    Excess Spread from Class A Finance Charge Collections         1,213,918.96
 
    Class A Required Amount                                               0.00
 
    Class B Available Finance Charge Collections                    275,925.20
 
    Class B Monthly Cap Interest Payable to Class B Certificateholders
    (See "Calculation of Certificate Interest" #3)                   99,257.83
     Unpaid Class B Monthly Cap Interest                                  0.00
 
    Class B Monthly Servicing Fee
    (See "Calculation of Monthly Servicing Fee" #6)                  33,333.33
     Unpaid Class B Monthly Servicing Fee                                 0.00
 
    Class B Investor Default Amount                                  81,943.56
    Unreimbursed Class B Investor Charge-offs                             0.00
 
    Excess Spread from Class B Finance Charge Collections            61,390.48
 
    Class B Required Amount                                               0.00
 
    Total Excess Spread                                           1,275,309.44
 
    Excess Spread used to Satisfy Class A Required Amount                 0.00
     Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest    0.00
     Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee   0.00
     Excess Spread used to satisfy Unreimbursed Class A Investor
      Charge-offs                                                         0.00
     Remaining Class A Required Amount                                    0.00
 
    Excess Spread used to satisfy Class B Required Amount                 0.00
     Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest    0.00
     Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee   0.00
     Excess Spread used to satisfy Unreimbursed Class B Investor
      Charge-offs                                                         0.00
     Remaining Class B Required Amount                                    0.00
 
    Shared Finance Charges used to satisfy Remaining Class A Required 
     Amount                                                               0.00
     Shared Finance Charges used to satisfy Unpaid Class A Monthly Cap
      Interest                                                            0.00
     Shared Finance Charges used to satisfy Unpaid Class A Monthly
      Servicing Fee                                                       0.00
     Shared Finance Charges used to satisfy Unreimbursed Class A Investor
      Charge-offs                                                         0.00
     Remaining Class A Required Amount                                    0.00
 
    Cash Collateral Withdrawal used to satisfy Remaining Class A
     Required Amount                                                      0.00
      Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
       Cap Interest                                                       0.00
      Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
       Servicing Fee                                                      0.00
      Cash Collateral Withdrawal used to satisfy Unreimbursed Class
       A Investor Charge-offs                                             0.00
      Remaining Class A Required Amount                                   0.00
 
    Class B Reallocated Amount used to satisfy Remaining Class A
     Required Amount                                                      0.00
      Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
       Cap Interest                                                       0.00
      Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
       Servicing Fee                                                      0.00
      Class B Reallocated Amount used to satisfy Unreimbursed Class A 
       Investor Charge-offs                                               0.00
      Remaining Class A Required Amount                                   0.00
 
    Class B Investor Interest used to satisfy Unreimbursed Class A
     Investor Charge-offs                                                 0.00

    Shared Finance Charges used to satisfy Remaining Class B Required
     Amount                                                               0.00
      Shared Finance Charges used to satisfy Unpaid Class B Monthly
       Cap Interest                                                       0.00
      Shared Finance Charges used to satisfy Unpaid Class B Monthly
       Servicing Fee                                                      0.00
      Shared Finance Charges used to satisfy Unreimbursed Class B
       Investor Charge-offs                                               0.00
      Remaining Class B Required Amount                                   0.00
 
    Cash Collateral Withdrawal used to satisfy Remaining Class B
     Required Amount                                                      0.00
      Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
       Cap Interest                                                       0.00
      Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
       Servicing Fee                                                      0.00
      Cash Collateral Withdrawal used to satisfy Unreimbursed Class B 
       Investor Charge-offs                                               0.00
      Remaining Class B Required Amount                                   0.00
 
    Excess Spread used to satisfy interest on overdue Class A
    (See "Calculation of Certificate Interest" #3)                        0.00
 
    Excess Spread used to satisfy interest on overdue Class B
    (See "Calculation of Certificate Interest" #3)                        0.00
 
    Excess Spread used to satisfy reimbursements of Class B Interest      0.00
 
    Excess Spread used to satisfy deposits into Required Cash Collateral
     Account                                                              0.00
 
    Excess Spread used to satisfy shortfalls of the Class A Interest
     Payments                                                             0.00
 
    Excess Spread used to satisfy shortfalls of the Class B Interest
     Payments                                                             0.00
 
    Excess Spread used to satisfy payments per Loan Agreement     1,275,309.44
 
    Excess Spread used to satisfy Class A Excess Interest                 0.00
 
    Excess Spread used to satisfy Class B Excess Interest                 0.00
 
    Remaining Excess Servicing (dollars)                          1,259,131.66
    Remaining Excess Servicing (percentage of Investor Interest)         3.78%
 
    Class A Investor Certificate Interest Shortfall (Deficiency Amounts)  0.00
 
    Class A Charge-offs                                                   0.00
    Unreimbursed Class A Charge Offs                                      0.00
    Unreimbursed Class A Charge Offs per $1,000 Original Investment       0.00
 
    Class A Monthly Servicing Fee Shortfall                               0.00
 
    Class B Investor Certificate Interest Shortfall                       0.00
 
    Class B Charge-offs                                                   0.00
    Unreimbursed Class B Charge Offs                                      0.00
    Unreimbursed Class B Charge Offs per $1,000 Original Investment       0.00
 
    Class B Monthly Servicing Fee Shortfall                               0.00
 
    Available Principal Collections                              39,454,910.00
 
    Monthly Principal Payable To Class A Certificateholders
    (See "Calculation of Monthly Principal" #4)                           0.00
 
    Monthly Principal Payable To Class B Certificateholders
    (See "Calculation of Monthly Principal" #4)                           0.00
 
    Monthly Principal Reinvested In Receivables
    (See "Calculation of Monthly Principal" #4)                  41,093,781.22
 
    (Net Deposit)/Draws on Shared Principal Collections                   0.00
 
    Required Shared Finance Charge Collections from other Series          0.00
    Draw on Shared Finance Charge Collections from other Series           0.00
 
    Withdrawal from Cash Collateral Account                               0.00
 
    Class B Investor Certificate Interest Shortfall (Deficiency Amounts)  0.00
 
    Required Shared Finance Charge Collections for other Series           0.00
    Deposit of Shared Finance Charge Collections for other Series         0.00
 
    Total Distribution to Class A Investors                       1,838,398.83
    Total Distribution to Class A Investors per $1,000 Invested           4.84
 
    Total Distribution to Class B Investors                          99,257.83
    Total Distribution to Class B Investors per $1,000 Invested           4.96
 
3.  Calculation of Certificate Interest
 
    Class A Certificate Rate                                          5.80547%
    Class A Interest Rate Cap Provider Deposit                            0.00
 
    Previous Month's Class A Deficiency Amount                            0.00
 
    Class A Interest at the Certificate Rate + 0.5% on Deficiency Amount  0.00
 
    This Month Class A Certificate Interest                       1,838,398.83
 
    Expected Class A Principal                                  380,000,000.00
    This Month Class A Cap Shortfall                                      0.00
    Class A Excess Interest                                               0.00
 
    Total Class A Interest Distributable to Class A
     Certificateholders                                           1,838,398.83
    Total Class A Interest Distributable per $1,000 of Class A
     Original Investment                                                  4.84
 
    Class B Certificate Rate                                          5.95547%
    Class B Interest Rate Cap Provider Deposit                            0.00
 
    Previous Month's Class B Deficiency Amount                            0.00
 
    Class B Interest at the Certificate Rate + 0.5% on Deficiency Amount  0.00
 
    This Month Class B Certificate Interest                          99,257.83
 
    Expected Class B Principal                                   20,000,000.00
    This Month Class B Cap Shortfall                                      0.00
    Class B Excess Interest                                               0.00
 
    Total Class B Interest Distributable to Class B
     Certificateholders                                              99,257.83
    Total Class B Interest Distributable per $1,000 of Class B
     Original Investment                                                  4.96
 
    Total Certificate Interest Distributable to
     Certificateholders                                           1,937,656.66
    Total Certificate Interest Distributable per $1,000 of
     Original Investment                                                  4.84
 
4.  Calculation of Monthly Principal
 
    Beginning Investor Interest                                 400,000,000.00
 
    Beginning Class A Interest                                  380,000,000.00
 
    Class A Available Principal Collections                      37,482,164.50
    Class A Monthly Unreimbursed Charge-Offs                              0.00
    Total Class A Monthly Principal                              39,039,092.17
 
    Class A Monthly Principal Reinvested in Receivables          39,039,092.17
 
    Class A Controlled Amortization Amount                                0.00
 
    Maximum Monthly Principal to Class A Certificateholders               0.00
 
    Class A Deficit Controlled Amortization Amount                        0.00
 
    Monthly Principal Payable to Class A Certificateholders               0.00
    Class A Monthly Principal Payable per $1,000 of Original Investment   0.00
 
    Beginning Class B Interest                                   20,000,000.00
 
    Class B Available Principal Collections                       1,972,745.50
    Class B Monthly Unreimbursed Charge-Offs                              0.00
    Total Class B Monthly Principal                               2,054,689.05
 
    Class B Reallocated Principal                                         0.00
    Prior Month's Cumulative Class B Reallocated Principal                0.00
    Class B Reduction of Interest                                         0.00
    Prior Month's Cumulative Class B Reduction of Interest                0.00
 
    Class B Monthly Principal Reinvested in Receivables           2,054,689.05
 
    Class B Controlled Amortization Amount                                0.00
 
    Maximum Monthly Principal to Class B Certificateholders               0.00
 
    Required Shared Principal Collections for other Series                0.00
    Deposit of Shared Principal Collections for other Series              0.00
    Required Shared Principal Collections from other Series               0.00
    Draw on Shared Principal Collections from other Series                0.00
 
    Class B Deficit Controlled Amortization Amount                        0.00
 
    Monthly Principal Payable to Class B Certificateholders               0.00
    Class B Monthly Principal Payable per $1,000 of Original Investment   0.00
 
    Ending Investor Interest                                    400,000,000.00
    Ending Class A Interest                                     380,000,000.00
    Ending Class B Interest                                      20,000,000.00
 
5.  Calculation of Pool Factor
 
    Pool Factor
   (Ending Certificate Balance divided by Initial Principal Amount to
     7 decimal places)                                               1.0000000
 
6. Calculation of Monthly Servicing Fee
 
   Series Servicing Fee Percentage                                       2.00%
 
   Beginning Class A Investor Interest                          380,000,000.00
   Beginning Class B Investor Interest                           20,000,000.00
   Beginning Investor Interest                                  400,000,000.00
 
   Class A Monthly Servicing Fee                                    633,333.33
   Class B Monthly Servicing Fee                                     33,333.33
   Total Monthly Servicing  Fee                                     666,666.67
 
7.  Cash Collateral Account Activity
 
    Beginning of Month Balance                                   36,000,000.00
 
    Required Cash Collateral Account Amount                      36,000,000.00
 
    Excess Spread used to satisfy payments per Loan Agreement     1,275,309.44
 
    Cash Collateral Account Deposits                                      0.00
 
    Reinvestment Income Received on Cash Collateral Account          39,016.02
 
    Aggregate Cash Collateral Account Draws                               0.00
 
    Available Cash Collateral Amount     (Dollars)               36,000,000.00
    Available Cash Collateral Amount     (Percentage)                    9.00%
 
8.  Past Due Statistics
    (past due on a contractual basis)
 
    1-30 days past due     Dollars                              122,962,270.13
                           Percent Dollars                               5.66%
                           Number of Accts                              42,790
                           Percent Number of Accts                       3.17%
 
    31-60 days past due    Dollars                               30,476,975.96
                           Percent Dollars                               1.40%
                           Number of Accts                              10,135
                           Percent Number of Accts                       0.75%
 
    61-90 days past due    Dollars                               19,514,180.27
                           Percent Dollars                               0.90%
                           Number of Accts                               5,961
                           Percent Number of Accts                       0.44%
 
    91-120 days past due   Dollars                               15,215,724.36
                           Percent Dollars                               0.70%
                           Number of Accts                               4,539
                           Percent Number of Accts                       0.34%
 
    121-150 days past due  Dollars                               12,649,490.43
                           Percent Dollars                               0.58%
                           Number of Accts                               3,593
                           Percent Number of Accts                       0.27%
 
    151-180 days past due  Dollars                                9,807,997.88
                           Percent Dollars                               0.45%
                           Number of Accts                               2,806
                           Percent Number of Accts                       0.21%
 
    181 + days past due    Dollars                               14,665,490.59
                           Percent Dollars                               0.67%
                           Number of Accts                               4,056
                           Percent Number of Accts                       0.30%
 
9. Base Rate Calculation
 
   Base Rate                                                             7.81%
 
   Portfolio Yield   (net of losses)                                    11.64%
 
   Excess of Portfolio Yield over Base Rate                              3.83%
 
10. Number of Accounts in the Trust
 
    Number of Additional Accounts                                            0
    Number of Removed Accounts                                         226,745
    Number of Automatic Additonal Accounts                                 909
    Ending Number of Accounts                                        1,349,867


              PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1996-1
                            MONTHLY SERVICER'S REPORT
  
Number of Months Series in Existence                                       6
Monthly Period Ended                                       December 31, 1996
Distribution Date                                           January 15, 1997
Determination Date                                          January 10, 1997
Number of Days in Period                                                  30
 
1.  Trust Activity Series 1996-1
 
    Beginning of Month - Aggregate Principal Receivables      2,180,840,579.58
 
    Principal Collections on the Receivables                    215,112,172.00
 
    Finance Charge Receivables                                   30,087,443.65
 
    Receivables in Defaulted Accounts                             8,935,292.20
 
    End of Month - Aggregate Principal Receivables            2,174,315,241.66
 
    Investor Interest Series 1994-1                             116,666,666.67
    Investor Interest Series 1994-2                             400,000,000.00
    Investor Interest Series 1995-1                             400,000,000.00
    Investor Interest Series 1996-1                             400,000,000.00
    Seller Principal Receivables                                857,648,574.99
 
    Total Investor Percentage with respect to...
                           Finance Charges                         18.3965964%
                           Charged-Off Accounts                    18.3965964%
                           Principal Receivables                   18.3965964%

    Class A Percentage with respect to...
                           Finance Charges                         17.4307751%
                           Charged-Off Accounts                    17.4307751%
                           Principal Receivables                   17.4307751%
 
    Class B Percentage with respect to...
                           Finance Charges                          0.9658213%
                           Charged-Off Accounts                     0.9658213%
                           Principal Receivables                    0.9658213%
 
    Seller Percentage with respect to ...
                           Finance Charges                         39.4445368%
                           Charged-Off Accounts                    39.4445368%
                           Principal Receivables                   35.6119125%
 
2.  Allocation of Funds in Collection Account
 
    Class A Available Finance Charge Collections                  5,228,782.54
 
    Class A Monthly Cap Interest Payable to Class A Certificateholders
    (See "Calculation of Certificate Interest" #3)                1,817,769.28
     Unpaid Class A Monthly Cap Interest                                  0.00
 
    Class A Monthly Servicing Fee
    (See "Calculation of Monthly Servicing Fee" #6)                 631,666.67
     Unpaid Class A Monthly Servicing Fee                                 0.00
 
    Class A Investor Default Amount                               1,552,830.49
    Unreimbursed Class A Investor Charge-offs                             0.00
 
    Excess Spread from Class A Finance Charge Collections         1,226,516.11
 
    Class A Required Amount                                               0.00
 
    Class B Available Finance Charge Collections                    289,721.46
 
    Class B Monthly Cap Interest Payable to Class B Certificateholders
    (See "Calculation of Certificate Interest" #3)                  103,345.73
     Unpaid Class B Monthly Cap Interest                                  0.00
 
    Class B Monthly Servicing Fee
    (See "Calculation of Monthly Servicing Fee" #6)                  35,000.00
     Unpaid Class B Monthly Servicing Fee                                 0.00
 
    Class B Investor Default Amount                                  86,040.74
    Unreimbursed Class B Investor Charge-offs                             0.00
 
    Excess Spread from Class B Finance Charge Collections            65,335.00

    Class B Required Amount                                               0.00
 
    Total Excess Spread                                           1,291,851.10
 
    Excess Spread used to Satisfy Class A Required Amount                 0.00
     Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest    0.00
     Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee   0.00
     Excess Spread used to satisfy Unreimbursed Class A Investor
      Charge-offs                                                         0.00
     Remaining Class A Required Amount                                    0.00
 
    Excess Spread used to satisfy Class B Required Amount                 0.00
     Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest    0.00
     Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee   0.00
     Excess Spread used to satisfy Unreimbursed Class B Investor
      Charge-offs                                                         0.00
     Remaining Class B Required Amount                                    0.00
 
    Shared Finance Charges used to satisfy Remaining Class A Required
     Amount                                                               0.00
      Shared Finance Charges used to satisfy Unpaid Class A Monthly
       Cap Interest                                                       0.00
      Shared Finance Charges used to satisfy Unpaid Class A Monthly
       Servicing Fee                                                      0.00
      Shared Finance Charges used to satisfy Unreimbursed Class A
       Investor Charge-offs                                               0.00
      Remaining Class A Required Amount                                   0.00
 
    Cash Collateral Withdrawal used to satisfy Remaining Class A
     Required Amount                                                      0.00
      Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly 
       Cap Interest                                                       0.00
      Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
       Servicing Fee                                                      0.00
      Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
       Investor Charge-offs                                               0.00
      Remaining Class A Required Amount                                   0.00
 
    Class B Reallocated Amount used to satisfy Remaining Class A Required
     Amount                                                               0.00
      Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
       Cap Interest                                                       0.00
      Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
       Servicing Fee                                                      0.00
      Class B Reallocated Amount used to satisfy Unreimbursed Class A
       Investor Charge-offs                                               0.00
      Remaining Class A Required Amount                                   0.00
 
    Class B Investor Interest used to satisfy Unreimbursed Class A
     Investor Charge-offs                                                 0.00
 
    Shared Finance Charges used to satisfy Remaining Class B Required
     Amount                                                               0.00
      Shared Finance Charges used to satisfy Unpaid Class B Monthly
       Cap Interest                                                       0.00
      Shared Finance Charges used to satisfy Unpaid Class B Monthly
       Servicing Fee                                                      0.00
      Shared Finance Charges used to satisfy Unreimbursed Class B
       Investor Charge-offs                                               0.00
      Remaining Class B Required Amount                                   0.00
 
    Cash Collateral Withdrawal used to satisfy Remaining Class B
     Required Amount                                                      0.00
      Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
       Cap Interest                                                       0.00
      Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
       Servicing Fee                                                      0.00
      Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
       Investor Charge-offs                                               0.00
      Remaining Class B Required Amount                                   0.00
 
    Excess Spread used to satisfy interest on overdue Class A
    (See "Calculation of Certificate Interest" #3)                        0.00
 
    Excess Spread used to satisfy interest on overdue Class B
    (See "Calculation of Certificate Interest" #3)                        0.00
 
    Excess Spread used to satisfy reimbursements of Class B Interest      0.00
 
    Excess Spread used to satisfy deposits into Required Cash Collateral
     Account                                                              0.00
 
    Excess Spread used to satisfy shortfalls of the Class A Interest
     Payments                                                             0.00
 
    Excess Spread used to satisfy shortfalls of the Class B Interest
     Payments                                                             0.00
 
    Excess Spread used to satisfy payments per Loan Agreement     1,291,851.10
 
    Excess Spread used to satisfy Class A Excess Interest                 0.00
 
    Excess Spread used to satisfy Class B Excess Interest                 0.00
 
    Remaining Excess Servicing (dollars)                          1,268,811.10
    Remaining Excess Servicing (percentage of Investor Interest)         3.81%
 
    Class A Investor Certificate Interest Shortfall (Deficiency Amounts)  0.00
 
    Class A Charge-offs                                                   0.00
    Unreimbursed Class A Charge Offs                                      0.00
    Unreimbursed Class A Charge Offs per $1,000 Original Investment       0.00
 
    Class A Monthly Servicing Fee Shortfall                               0.00
 
    Class B Investor Certificate Interest Shortfall                       0.00
 
    Class B Charge-offs                                                   0.00
    Unreimbursed Class B Charge Offs                                      0.00
    Unreimbursed Class B Charge Offs per $1,000 Original Investment       0.00
 
    Class B Monthly Servicing Fee Shortfall                               0.00
 
    Available Principal Collections                              19,727,455.00
 
    Monthly Principal Payable To Class A Certificateholders
    (See "Calculation of Monthly Principal" #4)                           0.00
 
    Monthly Principal Payable To Class B Certificateholders
    (See "Calculation of Monthly Principal" #4)                           0.00
 
    Monthly Principal Reinvested In Receivables
    (See "Calculation of Monthly Principal" #4)                  21,366,326.23
 
    (Net Deposit)/Draws on Shared Principal Collections                   0.00
 
    Required Shared Finance Charge Collections from other Series          0.00
    Draw on Shared Finance Charge Collections from other Series           0.00

    Withdrawal from Cash Collateral Account                               0.00
 
    Class B Investor Certificate Interest Shortfall (Deficiency Amounts)  0.00
 
    Required Shared Finance Charge Collections for other Series           0.00
    Deposit of Shared Finance Charge Collections for other Series         0.00
 
    Total Distribution to Class A Investors                       1,817,769.28
    Total Distribution to Class A Investors per $1,000 Invested           4.80
 
    Total Distribution to Class B Investors                         103,345.73
    Total Distribution to Class B Investors per $1,000 Invested           4.92
 
3.  Calculation of Certificate Interest
 
    Class A Certificate Rate                                          5.75547%
    Class A Interest Rate Cap Provider Deposit                            0.00
 
    Previous Month's Class A Deficiency Amount                            0.00
 
    Class A Interest at the Certificate Rate + 0.5% on Deficiency Amount  0.00
 
    This Month Class A Certificate Interest                       1,817,769.28
 
    Expected Class A Principal                                  379,000,000.00
    This Month Class A Cap Shortfall                                      0.00
    Class A Excess Interest                                               0.00
 
    Total Class A Interest Distributable to Class A
     Certificateholders                                           1,817,769.28
    Total Class A Interest Distributable per $1,000 of Class A
     Original Investment                                                  4.80
 
    Class B Certificate Rate                                          5.90547%
    Class B Interest Rate Cap Provider Deposit                            0.00
 
    Previous Month's Class B Deficiency Amount                            0.00
 
    Class B Interest at the Certificate Rate + 0.5% on Deficiency
     Amount                                                               0.00
 
    This Month Class B Certificate Interest                         103,345.73
 
    Expected Class B Principal                                   21,000,000.00
    This Month Class B Cap Shortfall                                      0.00
    Class B Excess Interest                                               0.00
 
    Total Class B Interest Distributable to Class B
     Certificateholders                                             103,345.73
    Total Class B Interest Distributable per $1,000 of Class B
     Original Investment                                                  4.92
 
    Total Certificate Interest Distributable to
     Certificateholders                                           1,921,115.00
    Total Certificate Interest Distributable per $1,000 of
     Original Investment                                                  4.80
 
4.  Calculation of Monthly Principal
 
    Beginning Investor Interest                                 400,000,000.00
 
    Beginning Class A Interest                                  379,000,000.00
 
    Class A Available Principal Collections                      18,691,763.61
    Class A Monthly Unreimbursed Charge-Offs                              0.00
    Total Class A Monthly Principal                              20,244,594.10
 
    Class A Monthly Principal Reinvested in Receivables          20,244,594.10
 
    Class A Controlled Amortization Amount                                0.00
 
    Maximum Monthly Principal to Class A Certificateholders               0.00
 
    Class A Deficit Controlled Amortization Amount                        0.00
 
    Monthly Principal Payable to Class A Certificateholders               0.00
    Class A Monthly Principal Payable per $1,000 of Original Investment   0.00
 
    Beginning Class B Interest                                   21,000,000.00
 
    Class B Available Principal Collections                       1,035,691.39
    Class B Monthly Unreimbursed Charge-Offs                              0.00
    Total Class B Monthly Principal                               1,121,732.13
 
    Class B Reallocated Principal                                         0.00
    Prior Month's Cumulative Class B Reallocated Principal                0.00
    Class B Reduction of Interest                                         0.00
    Prior Month's Cumulative Class B Reduction of Interest                0.00
 
    Class B Monthly Principal Reinvested in Receivables           1,121,732.13
 
    Class B Controlled Amortization Amount                                0.00
 
    Maximum Monthly Principal to Class B Certificateholders               0.00
 
    Required Shared Principal Collections for other Series                0.00
    Deposit of Shared Principal Collections for other Series              0.00
    Required Shared Principal Collections from other Series               0.00
    Draw on Shared Principal Collections from other Series                0.00
 
    Class B Deficit Controlled Amortization Amount                        0.00
 
    Monthly Principal Payable to Class B Certificateholders               0.00
    Class B Monthly Principal Payable per $1,000 of Original Investment   0.00
 
    Ending Investor Interest                                    400,000,000.00
    Ending Class A Interest                                     379,000,000.00
    Ending Class B Interest                                      21,000,000.00

5.  Calculation of Pool Factor
 
    Pool Factor
    (Ending Certificate Balance divided by Initial Principal Amount
      to 7 decimal places)                                            1.000000
 
6. Calculation of Monthly Servicing Fee
 
   Series Servicing Fee Percentage                                       2.00%
 
   Beginning Class A Investor Interest                          379,000,000.00
   Beginning Class B Investor Interest                           21,000,000.00
   Beginning Investor Interest                                  400,000,000.00
 
   Class A Monthly Servicing Fee                                    631,666.67
   Class B Monthly Servicing Fee                                     35,000.00
   Total Monthly Servicing  Fee                                     666,666.67
 
7.  Cash Collateral Account Activity
 
    Beginning of Month Balance                                   36,000,000.00
 
    Required Cash Collateral Account Amount                      36,000,000.00
 
    Excess Spread used to satisfy payments per Loan Agreement     1,291,851.10
 
    Cash Collateral Account Deposits                                      0.00
 
    Reinvestment Income Received on Cash Collateral Account          57,133.33

    Aggregate Cash Collateral Account Draws                               0.00
 
    Available Cash Collateral Amount     (Dollars)               36,000,000.00

    Available Cash Collateral Amount     (Percentage)                    9.00%
 
8.  Past Due Statistics
    (past due on a contractual basis)
 
    1-30 days past due     Dollars                              122,962,270.13
                           Percent Dollars                               5.66%
                           Number of Accts                              42,790
                           Percent Number of Accts                       3.17%
 
    31-60 days past due    Dollars                               30,476,975.96
                           Percent Dollars                               1.40%
                           Number of Accts                              10,135
                           Percent Number of Accts                       0.75%
 
    61-90 days past due    Dollars                               19,514,180.27
                           Percent Dollars                               0.90%
                           Number of Accts                               5,961
                           Percent Number of Accts                       0.44%
 
    91-120 days past due   Dollars                               15,215,724.36
                           Percent Dollars                               0.70%
                           Number of Accts                               4,539
                           Percent Number of Accts                       0.34%
 
    121-150 days past due  Dollars                               12,649,490.43
                           Percent Dollars                               0.58%
                           Number of Accts                               3,593
                           Percent Number of Accts                       0.27%
 
    151-180 days past due  Dollars                                9,807,997.88
                           Percent Dollars                               0.45%
                           Number of Accts                               2,806
                           Percent Number of Accts                       0.21%
 
    181 + days past due    Dollars                               14,665,490.59
                           Percent Dollars                               0.67%
                           Number of Accts                               4,056
                           Percent Number of Accts                       0.30%
 
9. Base Rate Calculation
 
   Base Rate                                                             7.76% 
 
   Portfolio Yield   (net of losses)                                    11.64%
 
   Excess of Portfolio Yield over Base Rate                              3.88%
 
10. Number of Accounts in the Trust
 
    Number of Additional Accounts                                           0
    Number of Removed Accounts                                        226,745
    Number of Automatic Additonal Accounts                                909
    Ending Number of Accounts                                       1,349,867