SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                   FORM 8-K

                                CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15 (D)
                                    of the
                        SECURITIES EXCHANGE ACT OF 1934

                      Date of Report:   February 17, 1998


                   FIRST NATIONS FINANCIAL SERVICES COMPANY
            (Exact name of registrant as specified in its charter)


                                   DELAWARE
         (State or other jurisdiction of incorporation or organization)

          333-1612                              76-0481583
     (Commission  File  Number)          (IRS  Employer Identification Number)


                             C/O GARY N. PELEHATY
                          CHRISTIANA EXECUTIVE CAMPUS
                       220 CONTINENTAL DRIVE, SUITE 310
                          NEWARK, DELAWARE 19713-4314
                   (Address of principal executive offices)

                                (800) 790-2474
             (Registrant's telephone number, including area code)










ITEM  6.              RESIGNATION  OF  REGISTRANT'S  DIRECTOR.
--------          --------------------------------------------

     Mr.  Philip  deMena  has  resigned effective as of February 12, 1998 as a
Director  of  the  Registrant  because  of  ongoing  business  commitments.




EXHIBITS:

     Letter  of  resignation  from  Philip  deMena.

                                   SIGNATURE

     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  hereunto  duly  authorized.



     /s/Gary  N.  Pelehaty
     ---------------------
       Gary  N.  Pelehaty,  President


Date:    February  17,  1998

                                    EXHIBIT










February  l7,  1998


First  Nations  Financial  Services  Company
Mr.  William  Juliano
560  Fellowship  Road,  Ste  214
Mount  Laurel,  NJ  08054


Dear  Mr.  Juliano:

I  must inform you that I am resigning as Director of First National Financial
Service  Company  because  of  ongoing  business commitments. I appreciate the
opportunity  that  was  given  to  me by yourself, and wish you the very best.

Sincerely,


Philip  deMena

CC:  Robert  Sonfield  esq.
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 2422}]
{"company-data": {"conformed-name": "FIRST NATIONS FINANCIAL SERVICES CO", "cik": "0001008966", "assigned-sic": "6189", "irs-number": "760481583", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-01612", "film-number": "98556327"}, "business-address": {"street1": "PLAZA OFFICE CENTER", "street2": "560 FELLOWSHIP RD", "city": "MOUNT LAUREL", "state": "NJ", "zip": "08054", "phone": "6092345151"}, "mail-address": {"street1": "PLAZA OFFICE CENTER", "street2": "560 FELOWSHIP ROAD", "city": "MOUNT LAUREL", "state": "NJ", "zip": "08054-1230"}}
SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                   FORM 8-K

                                CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15 (D)
                                    of the
                        SECURITIES EXCHANGE ACT OF 1934

                      Date of Report:   February 17, 1998

                   FIRST NATIONS FINANCIAL SERVICES COMPANY
            (Exact name of registrant as specified in its charter)

                                   DELAWARE
         (State or other jurisdiction of incorporation or organization)

          333-1612                              76-0481583
     (Commission  File  Number)          (IRS  Employer Identification Number)

                             C/O GARY N. PELEHATY
                          CHRISTIANA EXECUTIVE CAMPUS
                       220 CONTINENTAL DRIVE, SUITE 310
                          NEWARK, DELAWARE 19713-4314
                   (Address of principal executive offices)

                                (800) 790-2474
             (Registrant's telephone number, including area code)

ITEM  6.              RESIGNATION  OF  REGISTRANT'S  DIRECTOR.
--------          --------------------------------------------

     Mr.  Philip  deMena  has  resigned effective as of February 12, 1998 as a
Director  of  the  Registrant  because  of  ongoing  business  commitments.

EXHIBITS:

     Letter  of  resignation  from  Philip  deMena.

                                   SIGNATURE

     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  hereunto  duly  authorized.

     /s/Gary  N.  Pelehaty
     ---------------------
       Gary  N.  Pelehaty,  President

Date:    February  17,  1998

                                    EXHIBIT

February  l7,  1998

First  Nations  Financial  Services  Company
Mr.  William  Juliano
560  Fellowship  Road,  Ste  214
Mount  Laurel,  NJ  08054

Dear  Mr.  Juliano:

I  must inform you that I am resigning as Director of First National Financial
Service  Company  because  of  ongoing  business commitments. I appreciate the
opportunity  that  was  given  to  me by yourself, and wish you the very best.

Sincerely,

Philip  deMena

CC:  Robert  Sonfield  esq.