Michael T. Pugh, president and CEO of the Local Initiatives Support Corporation (LISC), returned to his alma mater to deliver the winter commencement address to the latest crop of students graduating from Eastern Michigan University (EMU). Click here for link to speech starting at 55:33
In addition to his role as a keynote speaker, Pugh also received an honorary doctoral degree in Commercial Science at the ceremony.
A native of Detroit, Pugh earned a bachelor’s degree in health care administration at EMU, making him the first person in his immediate family to graduate from college. He attended the university while simultaneously working full-time as a bank teller to put himself through school, handling a sometimes-difficult balancing act that has impacted both his personal and professional world view.
“At times it felt like a heavy weight, and possibly, some might even say a burden,” he told the graduates, “but today, what I have come to understand, is what a reward it truly was to have had the opportunity to build my skills and to also be a part of something incredibly special at this wonderful place of higher education.”
Pugh spoke at the December 14 ceremony, using his own story to inspire the current class of graduates to “build authentic relationships, be present for your journey, and remain in a constant state of learning.”
In his speech, Pugh also shared a lesson he lovingly attributed to the single mother who raised him, recalling a meaningful conversation between them.
“I shared with her that was struggling at the time because I didn't feel that the work I was doing was actually making a difference. I had 1,200 colleagues who were part of my business line, but there weren't many people that looked like me in the rooms that I was in, and the conversations were seldom ever about the communities and the people,” said Pugh. “And so she asked me, ‘Do you believe that you can make a difference?’ My answer was yes. She asked if I believed there was any part of the work that I was doing that mattered? And I said yes. And she said, ‘Well, if something matters, never give up.’”
That perseverance has carried him through a career that spans more than three decades. Pugh has been a leading advocate for creating economic paths to prosperity and generational wealth building, most recently in his position at LISC, where he has overseen the deployment of more than $2.4 billion to bridge gaps in affordable housing, small business growth, health, education, safety and jobs.
Prior to leading LISC, Pugh served as president and CEO of Harlem-based Carver Federal Savings Bank, the nation’s largest publicly traded African American-operated bank, for more than a decade. His previous experience includes stints as a senior vice president at both Capital One Bank and Citizens Financial Group.
“EMU is a special place for me because it represents the intersection for higher education and the opportunity to advance professionally,” said Pugh. “I’ve developed skills here that I've been able to carry forward throughout my career and I am grateful for the opportunity to come back and share my experiences with my fellow EMU alumni.”
Specific to the Michigan area, since 1990, LISC Detroit has invested more than $200 million in Detroit's neighborhoods to create good places to live, do business, and play. It successfully coordinates and invests resources that contribute to sustainable neighborhood revitalization and community growth, building positive environments to ensure that all residents of any income level have the opportunities and tools to build assets, become part of the economy and participate in the benefits of their communities.
About LISC
LISC is one of the nation’s largest community development organizations, dedicated to forging vibrant, resilient communities where people and places can thrive. LISC’s mission is to close systemic gaps in health, wealth, and opportunity, advancing racial equity across America. Since its founding in 1979, LISC has invested $32 billion to create more than 506,000 affordable homes, develop 82.5 million square feet of commercial and community space, and help tens of thousands of people secure employment and financial stability. For more, visit https://www.lisc.org/.
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