You can use a a union for two main reasons:
1 Is really more of a C-style hack to short-cut writing code on the basis you know how the target system's memory architecture works. As already said you can normally get away with it if you don't actually target lots of different platforms. I believe some compilers might let you use packing directives also (I know they do on structs)?
A good example of 2. can be found in the VARIANT type used extensively in COM.