
<PAGE>   1
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                  /s/ R. W. Gillespie
                                         ---------------------------------------


<PAGE>   2
                                                                      Exhibit 24


                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                   /s/ K. Brent Somers
                                         ---------------------------------------



<PAGE>   3
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 15, 1997.

                                                        /s/ Lee G. Irving
                                                 -------------------------------


<PAGE>   4
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                     /s/ Cecil D. Andrus
                                            ------------------------------------


<PAGE>   5
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                      /s/ William G. Bares
                                             -----------------------------------


<PAGE>   6
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                    /s/ A.C. Bersticker
                                            ------------------------------------


<PAGE>   7
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                 /s/ Kenneth M. Curtis
                                         ---------------------------------------


<PAGE>   8
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                  /s/ John C. Dimmer
                                         ---------------------------------------


<PAGE>   9
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                /s/ Lucie J. Fjeldstad
                                        ----------------------------------------

<PAGE>   10
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                  /s/ Stephen R. Hardis
                                         ---------------------------------------


<PAGE>   11
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                     /s/ Henry S. Hemingway
                                               ---------------------------------


<PAGE>   12
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                      /s/ Charles R. Hogan
                                                --------------------------------


<PAGE>   13
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                      /s/ Douglas J. McGregor
                                                   -----------------------------


<PAGE>   14
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                    /s/ Henry L. Meyer III
                                                --------------------------------


<PAGE>   15
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                      /s/ Steven A. Minter
                                                --------------------------------


<PAGE>   16
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                      /s/ M. Thomas Moore
                                                --------------------------------


<PAGE>   17
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                    /s/ Richard W. Pogue
                                            ------------------------------------


<PAGE>   18
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                   /s/ Ronald B. Stafford
                                            ------------------------------------


<PAGE>   19
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                      /s/ Dennis W. Sullivan
                                                   -----------------------------


<PAGE>   20
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                  /s/ Peter G. Ten Eyck, II
                                             -----------------------------------


<PAGE>   21
                                                                      Exhibit 24

                                     KEYCORP
                                     -------

                                POWER OF ATTORNEY
                                -----------------


         The undersigned, an officer or director, or both an officer and
director of KeyCorp, an Ohio corporation, hereby constitutes and appoints K.
Brent Somers, John A. Simonson, Thomas C. Stevens and Daniel R. Stolzer, and
each of them, as attorney for the undersigned, with full power of substitution
and resubstitution for and in the name, place and stead of the undersigned, to
sign and file (i) registration statements or amendments to existing registration
statements (on Form S-3, Form S-4 or such other form or forms as are applicable)
with the Securities and Exchange Commission, Washington, D.C., under the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), to
effect an exchange offer of capital securities, debentures and a related
guarantee or a shelf registration pursuant to Rule 415 under the Securities Act
of capital securities, debentures and a related guarantee, with an aggregate
issue price of up to $500,000,000, and (ii) any and all amendments,
post-effective amendments, and exhibits thereto, and any and all applications
and other documents to be filed with the Securities and Exchange Commission
pertaining to such securities or such registration, with full power and
authority to do and perform any and all acts and things whatsoever requisite and
necessary to be done in the premises, hereby ratifying and approving the acts of
such attorney or any such substitute or substitutes.

         IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand as
of January 16, 1997.

                                                  /s/ Nancy B. Veeder
                                          --------------------------------------


