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                                                                      EXHIBIT 14

                                PVF CAPITAL CORP.

                                 CODE OF ETHICS

                               GENERAL PHILOSOPHY

      The honesty, integrity and sound judgment of directors, officers and
employees is essential to PVF Capital Corp.'s reputation and success.

      This Code of Ethics governs the actions and working relationships of
directors, officers and employees of PVF Capital Corp. and its subsidiaries and
affiliates (collectively, "PVF Capital Corp.") with current and potential
customers, consumers, fellow employees, competitors, government and
self-regulatory agencies, the media, and anyone else with whom PVF Capital Corp.
has contact. These relationships are essential to the continued success of PVF
Capital Corp. as a financial services provider.

      This Code of Ethics:

      -     Requires the highest standards for honest and ethical conduct,
            including proper and ethical procedures for dealing with actual or
            apparent conflicts of interest between personal and professional
            relationships.

      -     Requires full, fair, accurate, timely and understandable disclosure
            in the periodic reports required to be filed by PVF Capital Corp.
            with governmental and regulatory agencies.

      -     Requires compliance with applicable laws, rules and regulations.

      -     Addresses potential or apparent conflicts of interest and provides
            guidance for directors, officers and employees to communicate those
            conflicts to PVF Capital Corp.

      -     Addresses misuse or misapplication of PVF Capital Corp. property and
            corporate opportunities.

      -     Requires the highest level of confidentiality and fair dealing
            within and outside the PVF Capital Corp. environment.

      -     Requires reporting of any illegal behavior.

                              CONFLICTS OF INTEREST

      A "conflict of interest" occurs when an employee's private interest
interferes or appears to interfere in any way with the interests of PVF Capital
Corp. Employees are expected to avoid all situations that might lead to a real
or apparent material conflict between their self-interest and their duties and
responsibilities as an employee, officer or director of PVF Capital Corp. Any
position or interest, financial or otherwise, which could materially conflict
with their performance as an employee, officer or director of PVF Capital Corp.,
or which affects or could reasonably be expected to affect their independence or
judgment concerning transactions between PVF Capital Corp., its customers,
suppliers or competitors or otherwise reflects negatively on PVF Capital Corp.
would be considered a conflict of interest.

                                 CONFIDENTIALITY

      Nonpublic information regarding PVF Capital Corp. or its businesses,
employees, customers and suppliers is confidential. PVF Capital Corp. employees,
officers or directors are trusted with confidential information. Such
confidential information is only to be used for the business purpose intended.
Employees are not to share confidential information with anyone outside of PVF
Capital Corp., including family and friends, or with other employees who do not
need the information to carry out their duties. Employees may

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be required to sign a specific confidentiality agreement in the course of their
employment at PVF Capital Corp. All employees remain under an obligation to keep
all information confidential even if their employment with PVF Capital Corp.
ends.

      The following is a non-exclusive list of confidential information:

   -  Trade secrets, which include any business or technical information, such
      as formula, program, method, technique, compilation or information that is
      valuable because it is not generally known.

   -  All rights to any invention or process developed by an employee using PVF
      Capital Corp. facilities or trade secret information, from any work for
      PVF Capital Corp., or relating to PVF Capital Corp.'s business, is
      considered to be "work-for-hire" under the United States copyright laws
      and shall belong to PVF Capital Corp.

   -  Proprietary information such as customer lists and customers' confidential
      information.

      Only authorized persons are permitted to make public or media
communications involving PVF Capital Corp. Any requests for statements involving
the PVF Capital Corp. or any of its subsidiaries should be directed to Senior
Management.

                             CORPORATE OPPORTUNITIES

      Using confidential information about PVF Capital Corp. or its businesses,
directors, officers, employees, customers, consumers or suppliers for personal
benefit or disclosing such information to others outside normal duties is
prohibited.

      Title 18 U.S. Code, Section 215, makes it a criminal offense for any PVF
Capital Corp. employee to corruptly:

   -  Solicit for himself or herself or for a third party anything of value from
      anyone in return for any business, service or confidential information of
      PVF Capital Corp.; or

   -  Accept anything of value (other than normal authorized compensation) from
      anyone in connection with the business of PVF Capital Corp., either before
      or after a transaction is discussed or consummated.

      Directors, officers and employees are prohibited from:

   -  Personally benefiting from opportunities that are discovered through the
      use of PVF Capital Corp. property, contacts, information or position.

   -  Accepting employment or engaging in a business (including consulting or
      similar arrangements) that may conflict with the performance of
      their duties or PVF Capital Corp.'s interest.

   -  Soliciting, demanding, accepting or agreeing to accept anything of value
      from any person in conjunction with the performance of their employment or
      duties at PVF Capital Corp.

   -  Acting on behalf of PVF Capital Corp. in any transaction in which an
      employee or their immediate family has a significant direct or financial
      interest.

      There are certain situations in which an employee may accept a personal
benefit from someone with whom they transact business such as:

   -  Accepting a gift in recognition of a commonly recognized event or occasion
      (such as a promotion, new job, wedding, retirement or holiday). An award
      in recognition of service and accomplishment

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      may also be accepted without violating these guidelines so long as the
      gift does not exceed $100 from any one individual in any calendar year.

   -  Accepting something of value if the benefit is available to the general
      public under the same conditions on which it is available to the employee.

   -  Accepting meals, refreshments, travel arrangements and accommodations and
      entertainment of reasonable value in the course of a meeting or other
      occasion to conduct business or foster business relations if the expense
      would be reimbursed by PVF Capital Corp. as a business expense if the
      other party did not pay for it.

                     SENIOR EXECUTIVE AND FINANCIAL OFFICERS

         To the best of their knowledge and ability, senior executive and
financial officers of PVF Capital Corp. (the CEO, CFO and CLO) performing
management oversight, accounting, auditing, financial management, public
disclosure and reporting under the securities laws or similar functions must:

   -  Act with honesty and integrity and avoid actual or apparent conflicts of
      interest in personal and professional relationships.

   -  Provide colleagues with information that is accurate, complete, objective,
      relevant, timely and understandable.

   -  Comply with applicable laws, rules and regulations of federal, state, and
      local governments (both United States and foreign) and other appropriate
      private and public regulatory agencies.

   -  Act in good faith, with due care, competence and diligence, without
      misrepresenting material facts or allowing independent judgment to be
      subordinated.

   -  Respect the confidentiality of information acquired in the course of
      employment.

   -  Share knowledge and maintain skills necessary and relevant to PVF Capital
      Corp.'s needs.

   -  Proactively promote ethical and honest behavior within the PVF Capital
      Corp. environment.

   -  Assure responsible use of and control of all assets, resources and
      information of PVF Capital Corp.

         Particular care is required in the preparation of PVF Capital Corp.'s
filings ("Securities Reports") with the Securities and Exchange Commission
("SEC") pursuant to the Securities Act of 1933, as amended and the Securities
Exchange Act of 1934, as amended and the rules and regulations of the SEC there
under (collectively, the "Securities Laws"). It is essential that PVF Capital
Corp.'s Securities Report contain full, fair, accurate, timely and
understandable disclosure and otherwise comply with the letter and spirit of the
Securities Laws for the protection of PVF Capital Corp. and its stockholders and
to engender public confidence in the information provided by PVF Capital Corp.
in its Securities Reports. Accordingly, the senior executive and financial
officers of PVF Capital Corp. must use their best efforts to ensure that PVF
Capital Corp.'s Securities Reports and other public communications made by PVF
Capital Corp. contain full, fair, accurate, timely and understandable disclosure
and that PVF Capital Corp. at all times complies in all material respects with
the letter and spirit of the Securities Laws.

                                 INSIDER TRADING

      It is both unethical and illegal to buy, sell, trade or otherwise
participate in transactions involving PVF Capital Corp. common stock or other
security while in possession of material information concerning PVF Capital
Corp. that has not been released to the general public, but which when released
may have an

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impact on the market price of the PVF Capital Corp. common stock or other equity
security. It is also unethical and illegal to buy, sell, trade or otherwise
participate in transactions involving the common stock or other security of any
other company while in possession of similar non-public material information
concerning such company. Directors, officers and employees are advised that they
are required to comply with the PVF Capital Corp. Policies and Procedures
Governing Trading in Securities (the "Insider Trading Policy"). Any questions
concerning the propriety of participating in a PVF Capital Corp. or other
company stock or other security transaction should be directed to the Chairman
of the Board and Chief Executive Officer or the Chief Operating Officer and
Chief Financial Officer at (440) 248-7171. Copies of the Insider Trading Policy
are available from the Compliance Department and are included on the PVF
intranet website at http://www.pvf4u.com/.

                              EXTENSIONS OF CREDIT

      PVF Capital Corp.'s subsidiary bank may extend credit to any executive
officer, director, or principal shareholder of PVF Capital Corp. only on
substantially the same terms as those prevailing for comparable transactions
with other persons in accordance with Regulation O of the Board of Governors of
the Federal Reserve System and the Bank's Loans to Insiders and Affiliates
Policy.

                         OUTSIDE BUSINESS RELATIONSHIPS

      Before agreeing to act as a director, officer, consultant, or advisor for
any other business organization, employees should notify their immediate
supervisor.

      Directors should disclose all new directorships or potential directorships
to the Chairman of the Board of Directors and Audit Committee in order to avoid
any conflicts of interest and to maintain independence.

      PVF Capital Corp. encourages civic, charitable, educational and political
activities as long as they do not interfere with the performance of an
employee's duties at PVF Capital Corp. Before agreeing to participate in any
civic or political activities, an employee should contact their immediate
supervisor.

      Employees who are considering outside employment should notify their
manager or supervisor. The law prohibits employees in some positions of PVF
Capital Corp. from holding outside employment. Managers will review outside
employment requests for potential conflicts of interest.

                                  FAIR DEALING

      Each director, officer and employee should undertake to deal fairly with
PVF Capital Corp.'s customers, suppliers, competitors and employees.
Additionally, no one should take advantage of another through manipulation,
concealment, abuse of privileged information, misrepresentation of material
facts, or any other unfair-dealing practices.

      Employees must disclose prior to or at their time of hire the existence of
any employment agreement, non-compete or non-solicitation agreement,
confidentiality agreement or similar agreement with a former employer that in
any way restricts or prohibits the performance of any duties or responsibilities
of their positions with PVF Capital Corp. Copies of such agreements should be
provided to Human Resources to permit evaluation of the agreement in light of
the employee's position. In no event shall an employee use any trade secrets,
proprietary information or other similar property, acquired in the course of his
or her employment with another employer, in the performance if his or her duties
for or on behalf of PVF Capital Corp.

      Employees should not directly or indirectly accept bequests under a will
or trust if such bequests have been made to them because of their employment
with PVF Capital Corp.

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             PROTECTION AND PROPER USE OF PVF CAPITAL CORP. PROPERTY

      All directors, officers and employees should protect PVF Capital Corp.'s
property and assets and ensure their efficient and proper use. Theft,
carelessness and waste can directly impact PVF Capital Corp.'s profitability,
reputation and success. Permitting PVF Capital Corp. property (including data
transmitted or stored electronically and computer resources) to be damaged,
lost, or used in an unauthorized manner is strictly prohibited. Employees,
officer and directors may not use corporate, bank or other official stationary
for personal purposes.

                   COMPLIANCE WITH LAWS, RULES AND REGULATIONS

      This Code of Ethics is based on PVF Capital Corp.'s policy that all
directors, officers and employees comply with the law. While the law prescribes
a minimum standard of conduct, this Code of Ethics requires conduct that often
exceeds the legal standard.

      Certain PVF Capital Corp. business units have policies and procedures
governing topics covered by this Code of Ethics. These policies and procedures
reflect the special requirements of these business units.

   REPORTING OF ILLEGAL OR UNETHICAL BEHAVIOR AND VIOLATIONS OF THIS CODE OF
                                     ETHICS

      All directors, officers and employees are expected to demonstrate the
ability to properly manage their personal finances, particularly the prudent use
of credit. PVF Capital Corp. recognizes that its customers must have faith and
confidence in the honesty and character of its directors, officers and
employees. In addition to the importance of maintaining customer confidence,
there are specific laws that outline the actions PVF Capital Corp. must take
regarding any known, or suspected, crime involving the affairs of PVF Capital
Corp. With regard to financial affairs, a bank must make a criminal referral in
the case of any known, or suspected, theft, embezzlement, check/debit card
kiting, misapplication or other defalcation involving bank funds or bank
personnel in any amount.

      Fraud is an element of business that can significantly affect the
reputation and success of PVF Capital Corp. PVF Capital Corp. requires its
directors, officers and employees to talk to supervisors, managers or other
appropriate personnel to report and discuss any known or suspected criminal
activity involving PVF Capital Corp. or its employees. If, during the course of
employment, an employee becomes aware of any suspicious activity or behavior
including concerns regarding questionable accounting or auditing matters, they
must report violations of laws, rules, regulations or this Code of Ethics to the
E-mail address SECfiling@parkviewfederal.com or to the COMPLIANCE HOTLINE AT:
1-877-211-0788. Reporting the activity will not subject the employee to
discipline absent a knowingly false report. All calls to the Compliance Hotline
are anonymous and confidential.

                   ADMINISTRATION AND WAIVER OF CODE OF ETHICS

      This Code of Ethics shall be administered and monitored by the PVF Capital
Corp. Compliance Department. Any questions and further information on this Code
of Ethics should be directed to this department.

      It is also the responsibility of the Compliance Department to annually
reaffirm compliance with this Code of Ethics by all employees and officers, and
to obtain a signed certificate (see attached) that each employee and officer has
read and understands the guidelines and will comply with them. The provisions of
the Ethics Policy will be included in the PVF Capital Corp. Employee Handbook.
The Employee Handbook will be issued to all new employees and officers at the
time of employment and reissued to existing employees and officers from time to
time. Employees will be required to sign a receipt form for the Employee
Handbook indicating they have read this Code of Ethics and comply with its
provisions.

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      Directors, officers and employees of PVF Capital Corp. are expected to
follow this Code of Ethics at all times. Generally, there should be no waivers
to this Code of Ethics. However, in rare circumstances conflicts may arise that
necessitate waivers. Waivers will be determined on a case-by-case basis by the
PVF Capital Corp. Human Resources Department with the advice of the PVF Capital
Corp.'s attorneys. However, the Board of Directors must determine waivers for
directors and executive officers. For members of the Board of Directors and
executive officers, the Board of Directors shall have the sole and absolute
discretionary authority to approve any deviation or waiver from this Code of
Ethics. Any waiver and the grounds for such waiver by directors or executive
officers shall be promptly disclosed to stockholders in a Current Report on Form
8-K.

      Known or suspected violations of this Code of Ethics will be investigated
and may result in disciplinary action up to and including immediate termination
of employment.

Revised: February 6, 2004
Approved by Board: February 24, 2004

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                                PVF CAPITAL CORP

                                 CODE OF ETHICS

                           EMPLOYEE CERTIFICATION FORM

I have received and read the PVF Capital Corp. Code of Ethics Policy and agree
to abide by its provisions at all times.

                                            ____________________________________
                                            Signature

Name _____________________________________________

Location/Department_______________________________

Date ________________________________________,2004

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