Pricing Supplement No.172 Dated May 14, 1996, 
to Prospectus Dated November 9, 1994
as Supplemented by Prospectus Supplement Dated 
March 22, 1995
                                 
ASSOCIATES CORPORATION OF NORTH AMERICA
MEDIUM TERM SENIOR NOTES, SERIES H
                                 
$ 10,000,000  principal amount of the Series H Notes, bearing
interest at
7.24% per annum and maturing on May 17, 2006, are offered by the
Company
through Deutsche Morgan Grenfell/C. J. Lawrence Inc., which, as
agent for the
Company, has agreed to use its best efforts to solicit purchasers
of the
Notes.
The Notes to which this Pricing Supplement relates will be Fixed
Rate Notes and will be initially
issued as Book Entry Notes for settlement on May 17, 1996.

Prior to this Pricing Supplement, $1,383,970,000 aggregate
principal amount of the Series H Notes
offered pursuant to the Prospectus Supplement dated March 22,
1995 to the Prospectus dated
November 9, 1994 has been sold at the interest rates then in
effect. On November 16, 1995 the
Company reduced the amount of the aggregate principal amount of
the Series H Notes available for
sale under the Prospectus and the Prospectus Supplement referred
to above by $100,000,000 from
$1,500,000,000 to $1,400,000,000.  On May 14, 1996 the Company
increased the amount of the
aggregate principal amount of the Series H Notes available for
sale under the Prospectus and the
Prospectus Supplement referred to above by $50,000,000 from
$1,400,000,000 to $1,450,000,000. 
                                 
Recent Financial Information


The following summary of certain consolidated financial
information of the
Company has been derived principally from information and
financial statements
contained in the Company's Annual Report on Form 10-K for the
year ended
December 31, 1995 and its Quarterly Report on Form 10-Q for the 
three months ended March 31, 1996 (in millions):


                                   Year Ended or   Three Months
Ended
                                   at December 31     or at March
31
                                     1995           1995     
1996
  
                                                      (Unaudited)

                                                     
Revenue                            $ 5,384.4     $ 1,263.2     $
1,454.2
Earnings Before Provision for                                   
 Income Taxes                      $ 1,121.4     $   259.6     $  
308.8
Net Earnings                       $   708.1     $   166.0     $  
193.8
Finance Receivables (net of 
unearned finance income and 
allowance for losses)              $35,259.1     $31,271.6    
$36,370.9 
Stockholders' Equity               $ 4,444.0     $ 3,961.0     $
4,624.1