9/96                                                     Page 1  


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934



 Date of Report (Date of earliest event reported:)  October 15, 1996
          
                                                                  
                               Chevy Chase Bank           
            _____________________________________________________ 
             (Exact name of registrant as specified in charter)



       United States           333-1682            52-0897004     

 _________________________ ________________    _________________
State or other jurisdiction   (Commission        (I.R.S. Employer
of incorporation or organ-     File No.)      Identification No.  
ization

    C/O CHEVY CHASE BANK, F.S.B
    8401 Connecticut Avenue
    Chevy Chase, Maryland                               20815
______________________________________             _____________
Address of principal executive offices               Zip Code


Registrant's telephone number, including area code(301)-986-7000
                                                   _____________
                           Not Applicable
 ________________________________________________________________
 (Former name, former address, and former fiscal year, if changed
                       since last report)




     9/96                                                  Page 2 

  Item 5.  Other Events
           None

  Item 7.  Financial Statements, Pro forma Financial Information  
           and Exhibits.

  Exhibit 99.1  Monthly Report to Certificateholders dated
                   October 15, 1996.


                                   Signatures

  Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has caused this report to be signed
on behalf of the Chevy Chase Master Credit Card Trust by the
undersigned thereunto duly authorized.                  
        
                 
                    Chevy Chase Home Loan Trust 1996-1            
                    

                                      Mark A. Holles 
    Dated: October 15, 1996   By:________________________________

                                      Mark A. Holles
                                      Vice President
[{"type": "8-K", "sequence": "1", "description": "CHEVY CHASE HOME LOAN TRUST 1996-1", "secsgml_size_bytes": 2490}]
{"company-data": {"conformed-name": "CHEVY CHASE HOME LOAN TRUST 1996-1", "cik": "0001015185", "assigned-sic": "6189", "irs-number": "520897004", "state-of-incorporation": "MD", "fiscal-year-end": "0228"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-01682-01", "film-number": "96646143"}, "business-address": {"street1": "8401 CONNECTICUT AVE", "street2": "C/O CHEVY CHASE BANK FSB", "city": "CHEVY CHASE", "state": "MD", "zip": "20815", "phone": "3019867000"}, "mail-address": {"street1": "C/O CHEVY CHASE BANK", "street2": "8401 CONNECTICUT AVENUE", "city": "CHEVY CHASE", "state": "MD", "zip": "20815"}}
9/96                                                     Page 1  

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

 Date of Report (Date of earliest event reported:)  October 15, 1996
          
                                                                  
                               Chevy Chase Bank           
            _____________________________________________________ 
             (Exact name of registrant as specified in charter)

       United States           333-1682            52-0897004     

 _________________________ ________________    _________________
State or other jurisdiction   (Commission        (I.R.S. Employer
of incorporation or organ-     File No.)      Identification No.  
ization

    C/O CHEVY CHASE BANK, F.S.B
    8401 Connecticut Avenue
    Chevy Chase, Maryland                               20815
______________________________________             _____________
Address of principal executive offices               Zip Code

Registrant's telephone number, including area code(301)-986-7000
                                                   _____________
                           Not Applicable
 ________________________________________________________________
 (Former name, former address, and former fiscal year, if changed
                       since last report)

     9/96                                                  Page 2 

  Item 5.  Other Events
           None

  Item 7.  Financial Statements, Pro forma Financial Information  
           and Exhibits.

  Exhibit 99.1  Monthly Report to Certificateholders dated
                   October 15, 1996.

                                   Signatures

  Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has caused this report to be signed
on behalf of the Chevy Chase Master Credit Card Trust by the
undersigned thereunto duly authorized.                  
        
                 
                    Chevy Chase Home Loan Trust 1996-1            
                    

                                      Mark A. Holles 
    Dated: October 15, 1996   By:________________________________

                                      Mark A. Holles
                                      Vice President