An automatic transmission having high pressure actuation and low pressure lube includes a hydraulic circuit (110) having a source of pressurized fluid (112), an actuation circuit (114) that delivers pressurized fluid to actuate components of the transmission, and a cooling circuit (116) used to cool components of the transmission. The source of pressurized fluid includes a motor 118, a first pump 120 operatively driven by the motor 118, and a second pump 122 selectively driven by motor 118. A clutch mechanism 124 is connected between the motor 118 and the second pump 122 so as to selectively engage and disengage the second pump 122 in driven relationship with the motor 118 so that the second pump 122 selectively supplies pressurized fluid to the cooling circuit 116 when the clutch mechanism 124 is engaged.