Carver Federal Savings Bank
MICHAEL PUGH is President and Chief Executive Officer of Carver Federal Savings Bank, the nation’s largest publicly traded African- and Caribbean-American operated bank, with approximately $600 million in assets and 140 employees. A banking veteran of more than 25 years, Mr. Pugh has led teams of up to 600 associates in retail, business banking, commercial and residential lending, and call center operations. He has also been a critical leader in bank technology integrations, launched new lines of business, and executed new growth market strategies. He started his career in banking as a bank teller while earning his undergraduate degree from Eastern Michigan University.
“Over the past 30+ years, roughly three quarters of African American banks have disappeared. This is not good for our country or for the African American community,” shared Pugh. “Communities lose their voice when the financial institutions that serve them are left unsupported … Looking at today’s landscape, we need more banks that are fully vested in their local community. Where you bank can have a powerful impact on the economic vitality of your local neighborhood.”