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                                                                    EXHIBIT 14.1


                            FINANCIAL CODE OF ETHICS
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BOSTONFED BANCORP, INC.
BOSTON FEDERAL SAVINGS BANK

FINANCIAL CODE OF ETHICS

The Financial Code of Ethics applies to the Board of Directors, Chief Executive
Officer, President, Chief Financial Officer, all other members of Senior
Management, and all financial officers of the Company and supplements the
provisions of the Company's Code of Ethics and Conflict of Interest Policy.

In addition to observing the provisions of the Company's Code of Ethics and
Conflicts of Interest Policy and Whistleblower Policy, all such Directors and
Officers shall:

      a)    Act ethically and honestly, avoiding actual or apparent conflicts of
            interest between personal and professional relationships.

      b)    Respect the confidentiality of non-public information regarding the
            Company except when authorized or required by applicable law, or
            regulation to disclose such information.

      c)    Provide full, fair, accurate timely, and understandable disclosure
            in reports and documents that the Company files with or submits to
            the Securities and Exchange Commission, other regulatory body or any
            other public filing or communication made by the Company.

      d)    Comply with all applicable governmental laws, rules and regulations.

      e)    Promptly report to the Chair of the Audit Committee of the Board of
            Directors (i) Any event or information which such individual
            reasonably believes to constitute significant deficiencies or
            material weaknesses in the design or operation of the Company's
            internal control over financial reporting which is reasonably likely
            to adversely affect the Company's ability to record, process,
            summarize and report financial information or (ii) Any event or
            information which such individual reasonably believes to constitute
            fraud, whether or not material in dollar amount, that involves
            management or other employees who have a significant role in the
            Company's internal control over financial reporting.

      f)    Promptly report any possible violation of this Financial Code of
            Ethics to the Chair of the Audit Committee in accordance with the
            Company's Whistleblower Policy.

      g)    Any Director or Officer who fails to comply with this Financial Code
            of Ethics may be subject to disciplinary action, including possible
            termination of employment. Violations of this Financial Code of
            Ethics may also constitute violations of law and may result in civil
            and criminal penalties for the Financial Officers involved and/or
            the Company.

Any amendment to or waiver from a provision of this Financial Code of Ethics may
be made only by the Board of Directors or an authorized Board Committee and will
be promptly disclosed as required by law or applicable stock exchange
requirement.

ACKNOWLEDGEMENT

I acknowledge that I have received, read and understand the Financial Code of
Ethics of BostonFed Bancorp, Inc. and Boston Federal Savings Bank and agree to
comply with it at all times.

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Signature                              Date

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