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Exhibit 14
 Monarch Community Bancorp, Inc. /Monarch Community Bank
Code of Conduct
 I. INTRODUCTION
    II. SAFEGUARDING CONFIDENTIAL INFORMATION
 .
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III. ENSURING INTEGRITY OF RECORDS
  IV. INTERNAL CONTROL OVER ASSETS
  A.
    
    No undisclosed or unrecorded asset is to be established for any purpose;B.
    
    No false entry is to be made in the books of the Corporation for any reason,
and no entry is to be used for any purpose other than the purpose described in the
supporting documents;C.
    
    No payment is to be approved or made with the intention that any part of it
is to be used for any purpose other than the purpose described in the supporting
documents; andD.
    
    Any Covered Person who knows of any unrecorded assets of the Corporation or
any prohibited act described in this Section IV must
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promptly report it to the Chief Executive Officer or Chief Financial Officer.
 V. CANDOR IN DEALING WITH AUDITORS, REGULATORS, AND LEGAL COUNSEL
  VI. ANTI-BRIBERY
    Exceptions to the above
   
    
    Meals, gratuities, amenities, or favors based on obvious family or personal
relationships
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
    
    Meals, refreshments, travel arrangements, accommodations, or entertainment of
reasonable value in the course of a meeting or other bona fide business occasion
    
    Loans from other financial institutions when made on customary terms for the purpose of
financing usual and proper activities (Insiders must refer to the banks insider policy
for additional guidance and regulatory requirements concerning loans from correspondent
banks.)
    
    Advertising or promotional material of reasonable value (pens, note pads, calendars,
etc.)
    
    Discounts or rebates on merchandise or services that are available to other similar
customers
    
    Gifts of reasonable value related to commonly recognized events or occasions such as a
promotion, wedding, retirement, holiday, or other special occasion
    
    Civic, charitable, education, or religious organizational awards for recognition of
service and accomplishment
    
    Other benefits or items of value, when approved in writing on a case-by-case basis.
   VII. CONFLICTS OF INTEREST
 A.
    
    In General. Except for wages, salary, or other direct or indirect compensation paid in
the normal course of the Corporations business, no Covered Person may directly or
indirectly benefit personally from his or her position or connection as a director,
officer, employee, or agent of the Corporation or from any other activity of the
Corporation. For example:
 1.
    
    No Covered Person may have any interest, direct or indirect, in any organization
which is seeking or doing business with the Corporation or which is the competitor
of the Corporation except:
 a.
    
    When such interest comprises securities in a widely held corporation
which are traded regularly in recognized security markets and such
interest is not in excess of 1% of any class of securities of such a
corporation, orb.
    
    When such interest has been fully disclosed in writing to senior
management of the Corporation for a determination as to the substantiality
of such interest and the propriety of retaining it.
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2.
    
    No Covered Person may serve as an officer, director, employer, or consultant of
another company or organization which:
 a.
    
    Is a competitor of the Corporation;b.
    
    Is seeking or doing business with the Corporation;c.
    
    Is in substantial default to the Corporation on any loan, contract or
other obligation;d.
    
    Is involved in a substantial dispute or litigation with the
Corporation; ore.
    
    Otherwise presents a conflict of interest, except with the knowledge
and written consent of senior management of the Corporation. If a Covered
Person receives written consent to so serve, and at any time learns of a
conflict of interest or potential conflict of interest arising from this
position, (s)he must immediately disclose this fact to senior management
of the Corporation.
 3.
    
    No Covered Person, without written authorization of senior management of the
Corporation, shall use or reveal any confidential information received in a
Corporation capacity except as is authorized by applicable law or regulation or use
or permit others to use Corporation property or services for personal purposes.4.
    
    Every Covered Person has an obligation immediately to report in writing to
senior management of the Corporation any potential conflict of interest which may
arise at any time for any reason, with respect to his/her association with the
Corporation.
 B.
    
    Employees. Employees must also comply with all outside employment and other relevant
sections of the Employee Handbook.C.
    
    Principal Shareholders. Principal shareholders are shareholders who, directly or
indirectly own, control or have power to vote more than 10% of any class of the
Corporations voting securities. At the point at which a shareholder becomes a principal
shareholder, senior management must advise the principal shareholder of the need for full
disclosure of their direct or indirect involvement in any loan or other transaction with
the Corporation. This includes a statement that the FDIC urges disclosure of any
involvement in any project or business activity that could pose a conflict of interest with
the Corporation.
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D.
    
    Political and Civic Activities. The Corporation encourages employees to participate in
activities outside of the Bank, including charitable or political activities. However,
federal law prohibits the Bank from making political contributions. To ensure the Banks
separation from any political contributions, employees are prohibited, while on Bank
property or while on duty, from soliciting other employees for political contributions on
behalf of candidates for public office, political action committees, or political parties.
Management may disseminate to employees materials from banking related political action
committees, however, directors, officers and employees may not coerce other employees into
contributions to such political action committees. However, the Federal Election Commission
does permit the use of Corporation funds and assets for limited political purposes, such
as:
 1.
    
    Establishing political action committees to solicit contributions to separate
political funds to be utilized for political purposes;2.
    
    Communicating direct political messages to shareholders; or3.
    
    Implementing non-partisan voter registration campaigns.
  E.
    
    Investment in Corporation Stock. Covered Persons that elect to purchase and hold stock
of the Corporation are encouraged to do so as a long-term investment. Speculation or
trading in the Stock of the Corporation based on inside information is strictly prohibited.
Inside information means material, non-public information about the Corporation that a
reasonably prudent person would consider important in making an investment decision.
Covered Persons who are subject to the Corporations Insider Trading Policy shall also
comply with that Policy.F.
    
    Fiduciary Appointment. Covered Persons must obtain the Chief Executive Officers
approval before accepting any appointment to act as a fiduciary or co fiduciary (personal
representative, conservator, guardian, or trustee) for a customer of the Corporation,
unless the customer is a member of the Covered Persons Immediate Family. Immediate
Family means parents, spouses, children, or siblings.G.
    
    Beneficiary or Legacy under a Will or Trust. Covered Persons must report to the
Compliance Officer any gift of a beneficial interest or legacy under wills or trusts of
customers of the Corporation, unless the customer is a member of the Covered Persons
Immediate Family.H.
    
    Prohibited Lending Practices. Covered Persons are not permitted to approve credit to
members of their Immediate Family or to customers in which the
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Covered Person or a member of the Covered Persons Immediate Family is a director, officer,
member, manager, or partner or has a controlling interest. All such credit applications
must be approved in accordance with the Banks Loan Policies
 I.
    
    Board Consideration of Potential Conflicts. The Board of Directors of the Company or the
Bank or the Banks Director Loan Committee, as appropriate, will specifically consider any
proposed loan or other transaction into which the Corporation is asked to enter, which
presents a potential conflict of interest. The Board will note its deliberations and its
decision in the minutes of the meeting at which such loan or transaction is considered.
 VIII. ANTITRUST COMPLIANCE
  IX. TIE-IN ARRANGEMENTS
  A.
    
    The customer obtain some additional credit, property, or service from the Corporation or its
affiliates, other than a loan, discount, deposit, or trust service;B.
    
    The customer provide some additional credit, property, or service to the Company
or its affiliates, other than those related to and usually provided in connection with a loan,
discount, deposit, or trust service; orC.
    
    The customer shall not obtain some other credit, property, or service from a competitor of
the Corporation or its affiliates, other than a condition or requirement that the Corporation
shall reasonably impose in a credit transaction to assure the soundness of the credit.
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X. SOCIAL SECURITY NUMBER PRIVACY
  
    
    publicly display social security numbers; or
    
    use or transmit more than four sequential digits of a social security number over the
Internet or computer system or network unless the connection is secure or the transmission
is encrypted; or
    
    include more than four sequential digits of a social security number in or on any
document mailed or otherwise sent to an individual if the numbers are visible on the
envelope or packaging.
  
    
    Verify an individuals identity, identify an individual, or do another similar
administrative purpose related to an existing or proposed account, transaction, product,
service, or employment;
    
    Investigate an individuals claim, credit, criminal, or driving history;
    
    Detect, prevent, or deter identity theft or another crime;
    
    Lawfully pursue or enforce a persons legal rights, including, but not limited to, an
audit, collection, investigation, or transfer of a tax, employee benefit, debt, claim,
receivable, or account or an interest in a receivable or account; or
    
    Provide or administer employee or health insurance or membership benefits, claims, or
retirement programs or to administer the ownership of shares of stock or other investments.
Records and information containing social security numbers are accessible only to
authorized individuals who have a valid, demonstrable need to obtain such records or
information.
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XI. POLICY PROHIBITING HARASSMENT
  a.
    
    submission to such conduct or communication is made either explicitly or implicitly a
condition of employment; orb.
    
    submission to or rejection of such conduct or communication is used as the basis for
decisions affecting employment; orc.
    
    such conduct or communication has the purpose or effect of unreasonably interfering with
anothers work performance or has the purpose or effect of creating an intimidating,
hostile or offensive work environment.
  a.
    
    unreasonably interfering with or adversely affecting anothers work performance; orb.
    
    creating an intimidating, hostile or offensive work environment.
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etc.
    XII. OBSERVING APPLICABLE LAWS
  XIII. ADMINISTRATION OF THE CODE
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XIV. MONITORING COMPLIANCE WITH THE CODE
  XV. REPORTING VIOLATIONS OF THE CODE OR OTHER QUESTIONABLE ACTIVITY
 Complaint Procedure, .
 XVI. PENALTIES FOR VIOLATIONS OF THE CODE
  XVII. TRAINING
  XVIII. UPDATING THE CODE
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Employee Acknowledgement
   (Employee Signature)
    
    (Date)(Print Name)
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