BOSTON – Massachusetts Governor Charlie Baker has appointed Sushil K. Tuli to the MassHousing Board of Directors. Mr. Tuli is the Chairman and President of Leader Bank.
“Sushil Tuli is a qualified banking professional with over 30 years of distinguished experience in the field,” said Governor Baker. “He will make an excellent addition to the MassHousing Board as we continue to work together to support and develop affordable housing opportunities for residents here in the Commonwealth.”
Mr. Tuli has been one of the leading figures in lending and banking in Massachusetts for more than three decades. After a successful career in mortgage lending, Mr. Tuli founded Leader Bank in May of 2002, opening a single branch in East Arlington with seven employees and $6.5 million in assets. Mr. Tuli has guided Leader Bank to become one of the top community banks in the country, with well over 250 employees across seven full-service branches and seven mortgage offices, and more than $1.2 billion in assets.
“I am honored to join MassHousing’s Board of Directors,’’ said Mr. Tuli. “Providing affordable housing solutions for low- and moderate-income borrowers has long been a significant goal of mine, and I have long admired the work MassHousing has done helping promote the American dream of homeownership throughout Massachusetts. I could not be happier to be working with MassHousing in this mission.”
Under Mr. Tuli’s leadership, Leader Bank was recently named to Inc. Magazine’s Honor Roll after ranking as one of the 5,000 fastest growing private companies in the country for the eighth time. In 2013, Banker & Tradesman named Mr. Tuli as a Community Bank Hero, and in 2015, Mr. Tuli received a Lifetime Achievement Award from TiE-Boston for his work mentoring and supporting entrepreneurs and small businesses.
Mr. Tuli’s leadership extends beyond his work with Leader Bank and MassHousing, as he currently serves as a member of the Federal Reserve Bank of Boston’s Community Depository Institution Advisory Council, the Massachusetts Economic Development Council, and the Massachusetts Growth Capital Corporation.
“MassHousing’s lending, especially for home mortgages, is steadily increasing and the timing is just right to have someone of Sushil’s caliber join the Board,” said MassHousing Chairman Michael J. Dirrane. “We appreciate the Governor’s thoughtful appointment and look forward to Sushil’s insight into our work to provide cost-effective affordable housing for the residents of Massachusetts.”
Mr. Tuli received a Master’s Degree in Public Administration in 1975 from Punjab University in India and graduated from the Harvard Business School’s Owner, President and Management Program in 2010.
MassHousing Board members are unpaid volunteers who are appointed by the Governor, typically to seven-year terms, although in the event of a vacancy a new member can be appointed to fill out the remainder of a former member’s term.
MassHousing (The Massachusetts Housing Finance Agency) is an independent, quasi-public agency created in 1966 and charged with providing financing for affordable housing in Massachusetts. The Agency raises capital by selling bonds and lends the proceeds to low- and moderate-income homebuyers and homeowners, and to developers who build or preserve affordable and/or mixed-income rental housing. MassHousing does not use taxpayer dollars to sustain its operations, although it administers some publicly funded programs on behalf of the Commonwealth. Since its inception, MassHousing has provided more than $22 billion for affordable housing.